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Economics

Portugal House Prices Rise Most Since 2010 as Lisbon Struggles With Shortage of Homes

  • Lisbon is trying to increase the supply of homes in the city
  • Country has attracted foreign investors seeking golden visas
Residential buildings in Lisbon, Portugal.

Residential buildings in Lisbon, Portugal.

Photographer: Jose Sarmento Matos/Bloomberg
Updated on

Portuguese house prices had the biggest annual rise in at least 12 years as a shortage of real estate available for sale helped to further bolster property values.

Home prices rose 13.2% from a year earlier in the second quarter, according to the country’s statistics institute. That’s the biggest increase since the institute started collecting data on the housing market in 2010. Prices rose 3.1% from the first quarter.