What's happening in real estate Portugal?

What's happening in real estate Portugal?

Before the global financial crisis of 2008-2009 real estate prices in this country, unlike the U.S., Ireland and Spain, grew at a moderate pace. "Bubble" in housing and Portugal are not puffed up, and therefore does not have to wait and devastating collapse in prices, analysts say.

These findings are contained in the report of Portugal's largest bank Caixa Geral de Depósitos (CGD). Experts estimate that from 1996 to 2006 in Portugal, as well as in Germany, rising real estate prices did not exceed 10%, the The Portugal News.

During the same period housing in the United States, Netherlands and Greece increased in price by 80%, in Spain - 110% in the UK - 140%, while in Ireland - 180%.
The real estate market of Portugal also offers an overabundance is not observed, characteristic, such as Spain or Ireland. Therefore, when the economy starts to recover, the country is likely to face the need to inventory the "excess" housing, analysts say.

However, the lack of bank financing and rising unemployment continued to negatively impact on prices and sales of real estate in Portugal