What is the history and overview of the Real Estate Market in Portugal?

Like the rest of the world, Portugal suffered through many economic troubles in the past. The real estate market got its share of the 2008 global economic downturn. The average value of homes lost around 11% between 2011 and 2012. Luckily, after a low point in 2012, the market started to recover in 2013. A successful recovery occurred between 2013 and 2014, and the market began to grow steadily from 2015 onwards. The real estate market closely mirrors the overall Portuguese economy. Since 2016, Lisbon’s real estate has been growing in value at an annual rate of around 2.5 percent. But, that’s not the most impressive market growth in Portugal, some areas such as Santa Maria da Feira have shown unprecedented annual growth of about 12 percent. As you know, the secret with real estate purchases is location, location, location. Some areas in the Portuguese real estate market did not perform as well growth-wise.