House prices in Portugal with the 4th highest rise in Europe

  • ECO News
  • 16 January 2020

House prices rose 10.3% in Portugal in the third quarter of last year. Only Latvia, Slovakia and Luxembourg recorded higher increases in Europe.

The house prices continue to rise. In Portugal, in the third quarter, they increased by 10.3%, well above the European average. This valuation puts the country at the top of Europe, according to Eurostat. Only three of the 28 countries recorded more significant rises.

According to data from the European Statistics Office, average house prices grew 4.1% in the European Union between June and the end of September. The same rate of change was recorded in the Euro Zone.

In a disaggregated manner, with a 10.3% increase in property prices, Portugal appears in fourth place among countries where prices rose the most in the last three months of 2019.

“The biggest increases [year-on-year] were recorded in Latvia (13.5%), Slovakia (11.5%), Luxembourg (11.3%) and Portugal (10.3%),” says Eurostat. Compared with the previous quarter, Latvia and Slovenia showed the highest rates of change, with price increases of 3.9% and 3.1%. In Portugal, prices rose by 1.2%.

In all European countries, there was a year-on-year increase in house prices. However, in most of them, the increases were much less marked, with Italy recording the least significant rise: 0.4%. In Spain, prices rose by 4.8%, according to Eurostat data.