PROPERTY PRICES SET TO CONTINUE RISING
Moody's rating agency estimates that property prices in Portugal will rise from 7% to 8% by 2020. Although Portugal is the country where the real estate market has grown the most in recent years.
Portugal is one of the countries where house prices have risen the most in recent years. It should maintain this status in the coming years, according to Moody's estimates. The rating agency predicts that the value of the residential property market in Portugal. Should increase from 7% to 8% by 2020.
For European markets, Moody expects a modest rise over the next two years. But in a report published this week. The agency notes that Portugal, the Netherlands and Ireland stand to benefit the most from rising property prices over the next two years. The Portuguese market is the country with the highest growth forecast.
In response to questions from Mad Money. The agency clarified the reasons that should continue to fuel the real estate market in Portugal. "There are certain areas where the gap between demand and supply is leading to a sharp appreciation in residential and commercial real estate prices."
Moody reports that "house prices have increased since 2013 and accelerated in 2017 to levels corresponding to 2008". According to the latest data from the National Statistics Institute (INE), house sale prices in Portugal have risen by more than 16% since the beginning of 2016. The sales prices in Lisbon and Porto are much higher, with 47% and 34% increase respectively.
