In May 2013 property prices in Portugal have increased for the first time since August 2010, reports The Portugal News. The pace of increase still quite small, but even small improvement pleases and inspires hope for "warming" of the investment climate in the market of property in Portugal. The price index is based on information from more than 1,000 companies and real estate agencies in Portugal.
From April to May 2013 housing prices in the country rose by an average of 0.4%. Moreover, the rise in prices was registered in both the primary and the secondary market. The growth was 0.3% and 0.4%, respectively.
Property in Portugal in May 2013 still costs 3.1% less than in May of last year. Nevertheless, the annual decline has decreased since last year, it was about 4.6%. It is noteworthy that a house in Portugal has lost 30% in value compared to the pre-crisis period.