Prices in Portugal are among the lowest in Europe

In a comprehensive article, the Global Property Guide highlights the Portuguese real estate market, enhancing its growth and dedicating an article to the increasing prices and economic recovery.

 

"The housing prices are rising quite Portugal, as well as a recovery of the economy. The prices of properties in Portugal increased by 3.66% (2.78% in real terms) in January 2016 compared to the previous year, an average price of € 1,047 (US $ 1,168) per square meter (sq. m.), based on data released by Statistics Portugal (INE). After more than three years of depression, housing prices in Portugal started recover in 2014, "so begins the article.

 

The Global Property Guide is an RX to the market from price developments, geographical areas: "In Lisbon metropolitan area, home prices rose 3.69% (2.81% in real terms) over the previous year in January 2016, to an average of € 1,266 (US $ 1,412) per square meter. "

 

It also states that in the foreign buyer perspective, the prices of Portuguese real estate are exceptionally low. In Portugal the price of the house in relation to GDP per capita is one of the lowest in Europe, according to Global Property Guide research. Again, in terms of square meters prices, Portugal has some of the lowest prices for property in the city center in Europe, according to Global Property Guide research.

 

It also affirms that interest rates on loans have reduced continuously: "Interest rates on home loans fell to a record low of 1.2% in January 2016 to 1.34% in January 2015 , 1.43% in January 2014, 1.54% in January 2013, and 2.72% in January 2012 respectively, according to the National Institute of Stastistics. This was partly due to the recent rate cuts from the European Central Bank (ECB), 1.5% in October 2011 to 0.05% in September 2014.

 

in Diarioimobiliario.pt