Latest news and stories about housing costs in property in Portugal for expats and residents.
In 2023, Portugal ranks among the EU countries with the lowest purchasing power, with its average annual income allowing for the purchase of only 11 baskets of essential goods, significantly less than the 24 baskets that can be afforded by an average Luxembourger. This disparity highlights the economic challenges faced by Portuguese residents, particularly in the context of rising housing costs.
Portugal has experienced significant increases in house prices since 2020, according to data from Pordata. Despite this rise, the country still ranks among those with the lowest purchasing power, with only Greece having higher housing costs relative to income.
The headline of DN on Wednesday, 18 February, highlights that despite an increase in the supply of rental homes, rents continue to rise, particularly in major urban centers where costs exceed one thousand euros. Government measures are anticipated to enhance supply, but their effects are expected to manifest in the medium to long term. The edition also features a report on social media access for young people, an interview commemorating the 40th anniversary of the first heart transplant, discussions on fame in sports, cultural insights into Lídia Jorge's novels, an obituary for civil rights advocate Jesse Jackson, and economic statistics regarding female workers' earnings.
“The largest supply of rental homes has not stopped the rise in rents” is the headline of DN this Wednesday, 18 February. More homes are entering the rental market, but the cost in major urban centres exceeds, well over, one thousand euros, according to data from the Imovirtual portal. Government measures are expected to boost supply, but the impact will only be felt in the medium to long term. Download below the electronic edition of the newspaper: The photographic highlight features a report that listened to young people and experts about the ban on access to social networks. “But my mother is always glued to her phone,” is the title of the article to read in this edition. Other topics: Interview on the 40th anniversary of the first heart transplant - João Queiroz e Melo: “Medicine cannot be dissociated from the environment and the circular economy”. Sports - When the dream of fame belongs to the children, but also to the parents. Culture - From The Day of the Prodigies to Mercy. The stories behind Lídia Jorge's novels. Obituary - Jesse Jackson (1941-2026): Civil rights advocate who fought to “keep hope alive”. Economy - Only one in five female workers earns more than 1500 euros gross per month. International - Kiev focuses on "practical issues, but Moscow is cutting into “very tense” negotiations. Economy - “The strategic aim for Portugal is to know how to say no,” says António Ramalho.
Households with mortgages tied to the six-month Euribor — the most commonly used term — will see their monthly instalments increase in February. The change raises borrowing costs and is likely to squeeze household budgets as loan repayments climb.
Seven in ten young people say they cannot achieve financial independence, and most earn below the national average salary, according to a study that identifies housing costs as one of the main barriers to their emancipation.
The Euribor rate, the benchmark for mortgage credit, fell on Wednesday for three and six months but rose for twelve months, reaching its highest value for the longer term since April. The three-month rate decreased to 2.082%, down from 2.088% on Tuesday, and remained below the six-month rates.
For thousands of families, the month of December brings an unwanted gift: the end of the decrease in house payments. For the first time since January of last year, holders of variable-rate mortgages indexed to the 3 and 6-month Euribor, whose contracts are reviewed in December, will see [...]
If you are reading this news in an app, access the quiz 'Buying a house in Portugal has never been so expensive'. The median value at which banks assess properties for mortgage loans reached its highest level ever in October, according to the statistical series that dates back to January 2011. Also, last week […]
Average Euribor rates have increased across all terms used in home loans. Loans with a 12-month Euribor are still decreasing, but only slightly.
