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House prices have risen dramatically across the European Union in the last ten years, and Portugal is on the list of countries where properties are most overvalued.
That's according to a report from the European Commission, "Housing in the European Union: market developments, underlying factors and policies", published on Tuesday.
Between 2014 and 2024, house prices in the EU increased by an average of 50%, "but in Hungary, Lithuania, Czechia, Portugal, Estonia, Bulgaria and Poland, nominal house price growth exceeded 200%," the report said.
The reasons behind the current state of housing in the European Union include higher interest rates, demand for housing from wealthier families and investors, an increase in short-term rentals, and a lack of new construction.
In certain locations, house prices have also diverged from
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