House price growth experienced “a significant uptick in momentum” during the month, with the net balance rising from +10% in August to +24% in September. Looking ahead to the next three months, the net balance of survey respondents anticipating a price increase jumped from +9% in August to +17% in September. Sales expectations have also shot up by 10 percentage points.
Figures from idealista underpin the picture of stability, showing a 9.4% rise in house prices in Portugal in the year to October 2024. Of the country's largest cities, Faro in the southern Algarve region led house price growth in October, with an increase of 4.
1 %. The RICS/CI report points to three-month sales expectations increasing in urban areas such as Lisbon and Porto. Both cities benefit from excellent and affordable connectivity to the UK, as does the Algarve.
There, Kronos Homes is witnessing the on-the-ground impact of strengthened sales volumes and expectations. The company’s latest launch – a beautifully renovated collection of homes at the coastal Flamingos Salgados development in the central Algarve, saw 40% of properties sold pre-launch. “Demand for both primary residences and second homes in Portugal is very strong right now,” comments Alda Filipe, Real Estate Director at Kronos Homes .
“Looking ahead to 2025, we anticipate robust demand for properties in the Algarve, with buyers seeking both apartments and villas. Sales expectations are high for the coming year, while increased ap.