The sale price of real estate on mainland Portugal has risen by more than 15 percent in the space of this year. According to the Confidencial Imobiliário Residential Price Index, the cost of property was up 15.6 percent in September 2018, when compared with the same month the year before. The research also found year-on-year increases of over 10 percent have now been recorded every month since July 2017.This year alone, valuations were consistently above 13.5 percent, reaching a high of 16.4 percent in May and settling in at around 15 percent ever since.
The housing price recovery cycle began five years ago, Confidencial Imobiliário says, in the last quarter of 2013, but for two of those years, year-on-year increases remained below three percent. It was only in 2016, according to the national real estate specialists, that the pick-up really began to accelerate, with prices rising by between 3.5 percent and nine percent by the middle of last year, and significantly increasing the pace of growth since then, with double-digit year-on-year variations.This cycle of successive increases led to prices being 10.6 percent above the pre-crisis period (2007) and having recovered 41.4 percent from their lowest level in June 2013. More good news for the national real estate sector is that Lisbon has been announced as the number one European real estate investment destination for 2019.