Prediction on the housing market in Portugal
The inflation rate in Portugal reached 5.3% in March, a figure that has not been part of the memory of the Portuguese for almost three decades. This escalation will have repercussions in the medium term on house prices, which have continued to rise since the troika left the country. Last year alone, housing increased by 9.4%. In the construction sector, the shadow of inflation has been felt particularly in energy and raw materials, in addition to the difficulties in hiring labour. This context, which worsened with the war in Ukraine, translates into "a sharp rise in construction prices", leading the industry to "slow down" activity, "decreasing supply in the medium term and contributing to a new rise the prices of the existing housing stock", says economist Pedro Brinca.
Source: " Jornal O Público"