Portugal property values 'rising steadily'

The property market in Portugal has been increasing steadily for the past six years, something that may be welcomed by those thinking of investing in the country.

Speaking to the New York Times, Nick Barnes of real estate company Knight Frank explained that values of homes have been rising by around three to four per cent each year since 2003.

"Portugal has never been high growth in terms of values," he told the news source, adding: "It's slow, steady stuff, which is arguably more sustainable."

Mr Barnes went on to say that the country sees relatively few foreign property investors, a fact that could mean reduced competition for those that are thinking of buying property in Portugal.

He noted that the average price of a property at present is around EUR 1,180 (GBP 1,003) per square metre.

Earlier this year the American Chronicle noted that property in Portugal has a high standard of build quality, adding that the country enjoys better price stability when compared to the market in Spain.

Like this? Then share with your friends and colleagues!