Portugal’s swift coronavirus response has been widely heralded one of the more successful attempts to contain the virus around the world. The country has seen a big increase in interest from foreign buyers in recent years, including from China, and has an attractive tax structure and visa requirements. New data from Imovirtual now suggests that Portugal may become even more attractive to outside buyers as property prices fell to an average of €359,497 representing a 1% drop nationwide in May year on year and a 0.8% drop compared to April.
Much like many property portals around the world that we’ve reported on in recent weeks, the Portuguese challenger portal has registered a significant uptick in traffic in recent weeks as home-hunters return to its pages looking for an upgrade.
In neighbouring Spain idealista recently reported similar figures around house prices for May and it will be interesting to see the relationship between traffic to property portals and house prices in the coming months.