Portugal – Now Selling A House Every 3 Minutes!

Boil yourself an egg. By the time you are ready to dip the toast, another house has been sold in Portugal! That’s the new remarkable statistic reported by CNN Portugal. 2022 has seen continued demand and growth in Portugal and the appetite for both eggs and property hasn’t gone away!

Not only this but prices continue to rise. House prices grew by 12.9% in the first 3 months of this year according to data from the INE (The Institute of National Statistics). The statistics show the housing pricing index rose by 12.9% in the first quarter, compared to the same period in 2021. This compares to an increase of 11.6% for the 3 months ending December 2021.

Price increases were more pronounced for second-hand homes 13.6% compared to 10.9% for new builds. This is reflective of the lack of product in the marketplace.

Also according to the INE in the 90 days between January – March 2022, 25% more homes were traded than in the same period the previous year. The majority of these homes were purchased by families.

Can it continue? That’s what everyone is asking? Right now it seems the world’s problems are fuelling the demand for property in Portugal. Voted the best country in Europe for expats – safety, quality of life and cost of living – more and more clients keep coming. Are you ready to join them?

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