Portugal property prices indicate positive trend

Portugal's property prices have started rising again, new figures have indicated.

The Knight Frank Global House Price Index stated that the country enjoyed a rise of 1.7 per cent in the second quarter of 2009.

It followed a 0.3 per cent drop in values during the first quarter, although that represented a continuation of an improving trend, with the last three months of 2008 seeing a one per cent drop and the July to September period a 1.9 per cent dip.

Buyers of Portuguese property may consider that on this basis the next quarter could provide a greater price rise, making now a good time to invest.

One factor that could justify such optimism may be the fact that the country is now out of recession.

Figures provided by European Union statistical agency Eurostat showed Portugal's gross domestic product expanded by 0.3 per cent in the second quarter of this year.

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