Overview
Portugal experienced a larger decrease in GDP between 2019 and 2021 than other European countries, since the services sector, most affected by the Covid-19 pandemic, weighed heavier on the domestic economy. However, 2021 saw positive results in the Portuguese economy, with a 5.8% increase in GDP forecasted, as well as a decrease in the unemployment rate.
A gradual growth in the Portuguese real estate sector is estimated, mainly due to the increase in inflation and the protection real estate traditionally gives to sudden surges in. A 15% year-on- year increase in residential transactions was recorded in 2021, with low supply and strong demand motivated by good credit conditions has yielded positive results in the sales market.
Portugal remains to be a key logistics location to serve the Iberian and European markets, and growth has been recorded within the hospitality industry in 2021, with 1.13m foreign tourists visiting in 2021.
In this report, we have analysed the evolution of the principal real estate sectors during the second half of the 2021.
We hope you find it interesting and helpful.
