Homes in Portugal are among the most overvalued, according to European Commission 😔

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House prices in the EU have risen significantly, with Portugal being one of the most overvalued markets. A report from the European Commission highlights a 50% average increase in EU house prices from 2014 to 2024, with Portugal's prices overvalued by about 35%. Factors contributing to this include high interest rates, demand from wealthier families, tourism, and a lack of new construction. The report also points to the impact of short-term rentals and institutional investments on the housing market. Portugal faces challenges with vacant properties and a low public housing stock, leading to criticism of government responses to the housing crisis.