O que esperar do Mercado Imobiliário em Portugal (A partir de 2027)

House prices in Portugal continue to rise because the problem is no longer just a "market issue": it's structural. Demand is growing much faster than supply, driven by immigration, foreign investors, tourism, real estate funds, and easy credit, while construction remains slow, expensive, and bureaucratic. Licensing a building in Lisbon can take almost two years, construction costs continue to rise, and new housing is only viable at high prices. The result: waiting for a significant price drop could mean waiting indefinitely. Even if there is a slowdown, this doesn't mean more affordable housing. Historically, large price drops only occur during severe crises—precisely when families lose jobs, access to credit, and purchasing power. At the same time, those who already own property continue to grow richer with real estate appreciation, while young people become increasingly dependent on inheritances or family assistance to buy a home. Without profound reforms in construction, taxation, transportation, and public housing, prices are unlikely to fall significantly in the coming years.