Portugal’s real estate market continues to thrive

February is often overlooked as a prime time to visit Portugal, but it could be the ideal moment to explore the country and begin your search for a new home or investment in the sun. With mild temperatures (by European standards), fewer crowds, and great deals on flights and accommodations, it’s a perfect time to experience what Portugal has to offer. However, there may be an even bigger reason to start your property search now. According to recent data from Eurostat (the European Statistics Office), house prices in Portugal rose by 3.7% in the third quarter of 2024 compared to the previous quarter. This places Portugal as one of the top performers in the EU, just behind Bulgaria’s 3.9% increase. In the last 12 months, property prices in Portugal have surged by an impressive 9.8%, marking a significant acceleration from the 7.8% and 7% increases seen in the previous quarters. Since 2010, Portugal’s property values have more than doubled, with a staggering 113% increase. This growth can be attributed to the country's relatively low starting point compared to other major European markets such as France, Spain, Germany, and the UK. Portugal’s real estate market continues to thrive, with some of the highest value increases and capital growth rates in the European Union over the past year. According to Statista, Portugal’s residential real estate market is projected to grow by 5.51% between 2025 and 2029, reaching an estimated market volume of $1.76 trillion by the end of the period. Now may be the perfect time to make your move in Portugal’s thriving property market!