The prices of the Portuguese real estate grew slightly in June 2013, but compared to last year - continued to decline. According to information from the Portuguese Statistics, the square meter in Portugal in June amounted to €1014, down 1.8% on a monthly basis. However, compared with the same period last year, prices fell by 2.4%. Despite the fact that it is less than in May (-5% annualized), the fall in prices is still disappointing investors.
In Lisbon and Porto average price over the last month grew by 2.5% and 1%, respectively, but year on year reduced by 3.2% and 2.1%.
Portugal, like Spain, will have a long road to recovery, although the situation is not so grim. In addition, foreign investors still consider Portugal as one of the priority countries for investment. Real estate strongly underestimated, and the prices are very attractive for the lease.
Recently there has been an influx of Chinese investors who have invested €25 million in the Portuguese real estate for the last 2.5 months. It was possible because of a new system of "golden residence permit", the so-called "golden visa", in exchange for a €500,000 investment in the Portuguese real estate.