During the second quarter of the year, the national market recorded year-on-year growth almost three times higher than the European average and, compared to the previous quarter, it was the second country where prices increased the most.
According to data released this morning by Eurostat, property prices in Portugal increased by 7.8% year-on-year during the second quarter of the year, well above the average rise of 2.9%. recorded in the European Union and 1.3% for euro zone countries.
Compared to the previous quarter, the domestic market recorded an increase of 3.9% quarter-on-quarter, a percentage which compares with an increase of 1.8% in the 20 member states of the Eurozone and to an increase of 1.9% among the countries of the European Union.
This is the second highest quarterly growth recorded in the European Union, surpassed only by Croatia, which saw its prices increase by 4.3% compared to the first quarter of the year.
After a slowdown in the first quarter of the year – prices on the national market recorded an increase of 7% year-on-year and 0.6% quarter-on-quarter – prices accelerated again in the second quarter of 2024, at like what happened at the European level.
Among the Member States of the European Union, Poland, Bulgaria, Lithuania and Croatia occupy the podium places in terms of real estate valuation, with respective increases of 17.7%, 15.1%, 10.4 % and 10% year-on-year. Portugal remains in 7th place in this ranking.
Luxembourg, Finland and France experienced the largest price drops between April and June, with decreases of 8.3%, 4.8% and 4.6% respectively.
Compared to the first quarter of the year, France and Belgium lead the declines, with a decrease in prices of 0.2% each, while Croatia (4.3%), Portugal (3.9%) %) and Spain (3.6%) are the countries where property prices have increased the most.
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