Overview
Portugal’s GDP grew 2.6% during Q1 2022 and then contracted 0.2% during Q2 22. At the same time, the unemployment rate continued its decrease and is now at 5.7%, the lowest value in the last 20 years.
The residential sectors’ transactions during Q1 22 were slightly lower than the figures of Q4 21, although financial institutions are now granting 19% more housing loans during H1 2022 compared to the same period last year, totaling at nearly €7bn. This has incentivized the purchasing of +43k homes, representing a YoY increase of 25.8%.
Portugal is still a key logistics location to serve the Iberian and European markets. The Portuguese real estate sector is estimated to reach a historical maximum by the end of the year, as the hospitality, logistics and office segments are having good results and are all expected to reach or even exceed pre-pandemic levels.
In this report, we have analyzed the evolution of the principal real estate sectors during the first half of 2022.
We hope you find it interesting and helpful.
