The property prices in Portugal started in 2014 to recover and have been rising since then.
2015 - 4.9%, 2016 - 5.7%, 2017 - 7%, 2018 - 9.7%, 2019 - 11.7%, 2020 - 6%.
The demand is recovering strongly, according to INE ( Portugal's statistics bureau) the year of 2021 the number of house transactions rose by 25,4% compared with previous year, to 153 076 units.
While the value of the transaction rose 33.3% to 24.86 billion Euros.
The house market is still rising, mostly because of the recovery in the demand. The number of consumers that are willing and able to buy, have been ben increasing.
Aveiro - Portugal
The construction activity is rising, in general in 2021, rose 12.5%, the regions in Portugal with the highest increase of new homes are: Algarve 43%, Alentejo 17.9% Lisbon 15.2% and the North of Portugal 12.7%
The index of production in construction increased 2.6% in 2021 year-on-year terms, and the, Employment, and wages and salaries, grew 1.7% and 9.6% respectively
The interaction point of both curves, supply and demand, is the way to find the market equilibrium.
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Source: INE (Portugal's Statistics bureau) press release – February 11th 2022