Portugal's housing market still weak
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Portugal’s housing market is still in the doldrums, though recently the situation has improved. During the latest quarter, property prices in Portugal rose by 0.2% q-o-q (-0.95% in real terms). But of course, this is only one quarter.
For the full year to June 2013, the average property price in Portugal fell by 2.4%% y-o-y to €1,014 per square metre (sq. m.), based on the figures released by Statistics Portugal (INE). When adjusted for inflation, property prices actually fell 3.4% over the same period.
All regions suffered annual price declines, but the Algarve had the sharpest price decline, with a 5.8% fall y-o-y to €1,256 per sq. m. It was followed by Alentejo, with a 5% price drop to around to €885 per sq. m.
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