According to this article from The Portugal News, house sales dropped by 25%. The drop was felt most by Algarve while sales dropped by 27% in Lisbon.
Yet various reports and data showed that prices per sqm keep going up.
Here comes a very interesting fact: if demand drops, which is now evident, so will the price. At least theoretically. However in order to provide sufficient condition for the price to drop significantly, the supply must also be surplus. Where is the supply in the Portuguese real estate market? Isn’t that the reason why prices are not coming down, according to experts?
