PROPERTY PRICES FALL IN 2019

PROPERTY PRICES IN PORTUGAL ON THE DECLINE

Property prices in Portugal, and second-hand homes in particular, are adjusting downwards. 70% of owners who have lowered the sale price of their homes have found buyers, said Pedro Lencastre, managing director of property consultancy JLL.

Pedro Lencastre said that over the last few months, 70% of houses that have applied a reduction in their selling price, particularly in the case of "second hand" homes, have managed to sell their property more quickly than those under construction or new homes.

Last year, the market real estate commercial reached "an all-time high", with transactions worth more than three billion euros. This year, it could fall to two billion, a reduction which, according to Pedro Lencastre, is linked to "two or three very large shopping centre transactions".