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Portuguese economy recovers

Portuguese economy recovers

The Portuguese economy continues to improve according to the Bank of Portugal. Housing prices are rising rather strongly; they rose by 3.66% (2.78% in real terms) in Portugal in January 2016 from a year earlier, based on figures released by Statistics Portugal.

After years of depression, house prices in Portugal started to recover slowly in 2014 and sales have increased hugely in 2016 with an increasing number of investors/buyers realising the potential of investment or having a second home/holiday home in Portugal.

Construction activity in Portugal has been in decline for quite some years now. However recently, there are some signs of recovery. The number of licensed dwellings in  new constructions rose by 20.2% to 8,153 units in 2015 from a year earlier and slowly we see new off-plan properties coming for sale on Portugues estate market.

With Portuguese economy recovering and house prices still being low NOW is the time to invest in your (2nd) home in Portugal.

 

Source: www.globalpropertyguide.com