House price increases in Portugal “almost double European average”

A new report shows house prices in Portugal are increasing at “almost double the European average”.

While prices nationally registered growth of 7.9% for the first quarter of 2017, other Eurozone countries could only muster 4%, reports Expresso.

The figures were reached by comparing data for the same period last year, and translate into “the highest increase ever reported” by Portugal’s statistics institute INE.

The country’s rosy property panorama has only been topped by three other countries: Lithuania (where house prices increased by 10.2%), Latvia (+10.1%) and Ireland (+8.9%), says the paper.

Set against data for the last three months of 2016, the news still translates into one of the Eurozone’s highest increases, at 2.1%, adds Dinheiro Vivo, stressing the good news “is not just from now”. 2016 was also a boom year, registering a 6% increase in prices on the year before.

If international media has it right, the picture can only get better.

Only last month property news service Property Wire suggested prices were set to rise as much as 30% during 2017 due to Portugal being “in a unique position to offer political and social stability to foreign investors”.

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