Summary:
Median house prices in Portugal exceed €1700 per square meter.
Housing prices have increased by over 60% in the last five years.
Prices have doubled in 27 municipalities across the country.
The upward trend in prices continued even during the COVID-19 pandemic.
Significant Surge in Housing Prices
The median price of houses in Portugal has seen a remarkable increase, now surpassing €1700 per square meter for the first time on record. This trend has been consistent for over a decade, becoming more pronounced since the last financial crisis.
Uninterrupted Growth
Despite the disruptions caused by the COVID-19 pandemic, housing prices did not see any declines; instead, they continued to rise. The situation has escalated, with the last five years witnessing an increase of over 60% in housing prices across the country, with 27 municipalities experiencing prices that have doubled or come close to doubling.
This trend underscores the ongoing housing crisis in Portugal, presenting significant challenges for prospective homebuyers and raising concerns regarding affordability across the nation.
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