Portugal Home Prices Surge 18%, Biggest Jump Since Records Began

Home prices in Portugal posted another record jump in the third quarter, with the deepening housing squeeze fast becoming one of the country’s biggest political flashpoints.

The average price for a dwelling rose 17.7% from a year earlier, according to the National Statistics Institute. It’s the biggest increase since the agency began tracking the data in 2009, and the third record in a row. Existing homes drove much of the surge in the third quarter, with prices climbing 19.1% year on year — outpacing the broader market.