Portugal’s property prices fall again

Confidence in Portugal’s property market has taken a further knock as demand falls in Lisbon, Porto and the Algarve.

The latest survey from the Royal Institute of Chartered Surveyors (RISC) shows that price falls have gathered momentum with weakening demand identified as the main factor.

RICS Senior Economist Josh Miller said: "The Portuguese housing market can be characterised by falling prices, falling activity levels and deteriorating confidence.

"This is set against a backdrop of rising inflation, elevated unemployment and a shrinking economy."