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According to the latest price index from Idealista, house prices in Portugal rose by 1% in the third quarter of the year, despite the challenges brought on by the pandemic.
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The latest sales figures are in: house sales in Portugal fell by 23% in the second quarter of the year, an “official” sign of the Covid-19 pandemic. The biggest drop was registered in the Algarve region.
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The period of recovery of the Portuguese real estate market since early May seems to be slowing down, says a monthly report by property consultants Imovendo.
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Investment in real estate is likely to be one of the main winners of the crisis resulting from the pandemic, said Miguel Maya, CEO of Millennium BCP bank. Americans lead the way in terms of foreign interest.
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Portugal’s Golden Visa scheme, which grants Portuguese citizenship to non-EU nationals, will soon be offered to British investors once the transition period of Brexit ends in January 2021.
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