Introducing the H1 2024 Market Report

A Robust Start to 2024

The first half of 2024 has been marked by a remarkable surge in tourism, continuing the record-breaking momentum of 2023. During these six months, Portugal welcomed over 16 million visitors, resulting in 42 million overnight stays and generating approximately €12.5 billion in tourism revenue. These impressive figures highlight Portugal’s increasing appeal among international travellers.

Portugal's property market has demonstrated considerable resilience. While EU house prices rose by a modest 0.2%, Portugal's market saw a 7% increase compared to the same period in 2023, positioning the country among the top five in the EU for property price growth. This upward trend, consistent since 2016, reflects sustained demand and robust market fundamentals.

Despite ongoing geopolitical challenges, demand for luxury property continues to increase, and our results for the first half of this year demonstrate this well.

Our results in the year's first half put us on course for another bumper year in sales. Leads are up 46% year-to-date, with 761 direct inquiries, and our teams have achieved €76 million in sales so far this year. High property values have enticed more properties onto the market, listed by vendors who will sell only if the offer is compelling. This gives buyers more choice, albeit at a premium.

The Portuguese property market shows no signs of slowing down. High-end properties in the Algarve continue to attract wealthy buyers globally. The enduring allure of Portugal’s lifestyle, climate, and strategic investment opportunities assures us of a prosperous future in the property market. We anticipate another successful year for our clients and our team at QP Savills.

For the full H1 Market Report, please click here!

Stay tuned for the latest updates in our News & Events section!

Alison & Kerstin
Co-Owners, Directors...& Sisters
info@qp.pt | +351 289 396 073 | qp.pt