Real Estate
Portugal First Half Home Sales Slump 20% as Golden Visa Ends
- Property prices not expected to drop in the near future
- Amid housing crisis, demand continues to outpace supply
Residential buildings in Lisbon, Portugal.
Photographer: Goncalo Fonseca/BloombergThis article is for subscribers only.
Home sales in Portugal slumped in the first six months of the year as rising interest rates and a government decision to end incentives for some foreign buyers weighed on the housing market, according to real estate services provider Jones Lang LaSalle.
Home sales fell 22% to 68,000 units in the first half of the year from the same period a year earlier, JLL said in a presentation on Thursday. In 2022, about 168,000 units were sold in Portugal, the highest sales volume on record.