House prices set to leap 4% in Algarve and Lisbon

There is good news for property owners looking to sell in Portugal as a new survey shows that houses prices are set to grow 4% in the Algarve and Lisbon this year.

The Portuguese Housing Market Survey (PHMS) was released last week and is based on feedback received from around 150 estate agents in Porto, Lisbon and the Algarve.

“Prices are growing in all markets, though more intensely in Lisbon and the Algarve,” said Ricardo Guimarães from Confidencial Imobiliário (CI), one of the PHMS promoters.

The main reason for the increase is that demand is outweighing houses for sale or rent available.

Meantime, the number of houses coming onto the sales market “grew in January for the first time in six months.”

The PHMS is a monthly review designed to show “the index of confidence and expectations in the metropolitan regions of Lisbon, Porto and the Algarve”.

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