House prices up 70% in Portugal since 2010

• 18 July, 22

During the last 12 years, house prices soared by 70% in Portugal, a pace well above the 45% rise recorded in the European Union (EU) as a whole, according to Eurostat data.

The country sits near the middle of the table among different member states, with rents rising by 25% over the same period. Estonia leads the way in the biggest increases, while Cyprus, Italy and Greece saw price declines.

Between 2010 and the first quarter of 2022, house prices in the European Union (EU) soared by 45% and rents by 17%. These indicators still had similar evolutions in the first year of the period, but the trajectories diverged significantly from the second quarter of 2011. Although rents have increased steadily over these 12 years, house prices have fluctuated considerably.

Estonia appears at the top of the table with an almost 180% jump in house prices and rents. Behind appears Hungary and Luxembourg. On the other hand, prices and rents fell by around 25% in Greece. Also noteworthy is Italy, where rents rose by around 5%, but prices dropped by around 10%.

Portugal appears in the middle of the table, but above the European average, as shown in the Eurostat chart. In national territory, house prices soared 70% in the last 12 years and rents 25%.

Cre: Portugalnews