With little shortage of demand the Portuguese property market is thriving. Despite increasing prices property sales were up by just over 16% in the three months to June.
A transaction value of €4.6 billion saw the sale of nearly 37,000 homes across Portugal. With continued property interest in Lisbon which accounted for 48% of the revenue of over 13,000 completed property transactions in the Lisbon area.
Figures based on the Residential Real Estate Index show a similar growth of a 6% increase on year on year property values to May 2017, one of the sharpest increases seen since the 2009 financial crisis.
There is plenty of news reinforcing optimism in the Portuguese property market and in the countries prosperity.
Publicly funded projects are up by 90% creating jobs worth €2 billion, and housing investment sitting significantly above the GDP with a continuing rise in house prices being forecast beyond 2017.
The Bank of Portugal acknowledges that investment in the property market has rocketed with a 7.9% increase in the first quarter of 2017. A large portion of the property demand is being driven by foreign investors, and directly contributing to the rise in house prices. As far as foreign buyers and investors are concerned, Portuguese property is still an excellent investment and value for money.