House prices rise in February
House prices in Portugal went up by 1.5% in February, bucking a recent slowdown in prices trend seen in December last year and January this year.
According to Confidencial Imobiliário house prices had shown signs of stabilising in the second half of 2022.
“For now it is too early to say that the market will bounce back from previous gain rates when increases across the board were consistently around 2%. We need to look at the behaviour of prices over the coming months, since February’s percentage gain has probably not yet reflected the impact of housing measures announced by the government”, says Ricardo Guimarães, director of Confidencial Imobiliário.
“What we do know right now is that there continues to be a structural lack of supply, and that demand, even in a possible cooling market, is higher than the capacity to put new product on the market, resulting in an imbalance that is fuelling a continued increase in house prices.”