In the third quarter of the year, house prices in Portugal rose 3.7% compared to the previous quarter. This is the second highest increase among European Union countries — only in Bulgaria did they rise more (3.9%), according to data from the European Statistics Office. Compared to the previous year, prices accelerated by 9.8%, above the 7.8% and 7% increases recorded in the previous two quarters.

These figures confirm the trend observed in recent years, with Portugal standing out among the countries where housing has become more expensive. Since 2010, Portugal is one of the countries where prices have more than doubled: they have shot up 113%.

House prices, as measured by the House Price Index, rose in the third quarter of the year by 2.6% in the Euro Area and by 3.8% in the EU, compared with the same quarter of the previous year. These increases surpass the 1.4% and 3.0% increases in the Eurozone and the EU, respectively, recorded in the second quarter.

Among the Member States for which data are available, four showed an annual decrease in house prices in the third quarter of 2024 and twenty-two showed an annual increase.

The largest falls were recorded in France (-3.5%), Finland (-2.8%) and Luxembourg (-1.7%), while the largest increases were recorded in Bulgaria (+16.5%), Poland (+14.4%), Hungary (+13.4%), Croatia (+12.3%) and the Netherlands (+10.3%), reveals Eurostat.