Portugal in international property recovery
14 September 2009
Portugal’s property market has shown indications of recovery in a new survey.
The Knight Frank Global House Price Index revealed that the country saw a 1.7 per cent increase in house prices in the second quarter of 2009.
Such a rise follows a gradual slowdown in the rate at which values were falling in Portugal over the three previous quarters.
The three months to the end of September 2008 saw a fall of 1.9 per cent, followed by a one per cent drop in the last quarter of 2008 and a 0.3 per cent dip in the opening three months of this year.
Buyers of international property may conclude that on the basis of this trend the current quarter will see a greater increase in property values.
One reason for possible optimism for this is the upturn in the Portuguese economy, which emerged from recession in the second quarter.
Recent figures produced by Eurostat showed that the country experienced an economic expansion of 0.3 per cent during this period.
Source: Halifax International