The market in Portugal seems to be recovering but I think the banks still hold a lot of respossessed stock and will continue drip feeding it into the market. This will likely act as a short to medium term drag on prices
I work for Century 21 Tipy Family in Portugal as a Real Estate Consultant, and another great site that we use constantly to obtain statistics, prices etc. is called CASAFARI . COM I hope it helps Have a great day!
I´m going to copy my previous answer to you in another thread here...
According to the statistical data of SIR-Turismo Residencial, managed by Confidencial Imobiliárioom, it confirms that Brexit did not negatively affect the demand for tourist accommodation in Portugal by UK investors. Not only did the British account for almost half of the transactions of international origin (46%),but they achieved the highest average investment, investing around 2.1 million euros per transaction. Overall the property market in Portugal is rising still in prices as well as in demand since the offer is still not enough, but it is starting to slow down its pace, however we do not forsee any decline in property values in the next few years. New constructions are coming up now and within the next 2 to 4 years.
Hello @realdeals According to the latest announcements from the Portuguese government, they will take all necessary steps to make things as easy as possible for real estate buyers and UK tourists after Brexit. Even if the UK leaves the European Union without an agreement, Portugal will not be requiring visas from UK citizens to enter the country. The Portuguese government's plan is based on the expectation of reciprocity from the UK side, as Prime Minister Theresa May has given assurances that, even without agreement, rights for citizens will be assured in any way. Portugal is definitely not indifferent to the consequences of Brexit, especially when the UK investors have been the main investors in the Portuguese real estate market in recent decades. UK citizens have always had a special interest in buying a home in Portugal, especially in the south of Portugal, the Algarve region, and even with the entry of new nationalities in search of Gold Visas, the UK has never ceased to be one of the main countries of investment. Although there is currently some slowdown in purchasing decisions, due to the need for official clarification of the exit of the UK from the EU, interest in investing in the real estate market in Portugal still remains today. Isabel Monte