House prices falling in Portugal

Weak demand and falling confidence in the Portuguese property market is causing residential home prices to fall in the country.
This is according to the latest survey from the Royal Institution of Chartered Surveyors, which noted that property values in February have continued to decline at roughly the same pace as the previous two months.
Indeed, many real estate agents are recording large price falls and the outlook for prices remains negative, the data shows.
The news may lead a number of individuals to consider making a property purchase in Portugal, with current low prices meaning that there is an opportunity to pick up a bargain home.
According to a spokesman from the firm, the main concerns of Portuguese real estate agents and developers relate to the financial constraints felt in the market.
"These concerns are being amplified by higher unemployment and political uncertainty," he said. "On the other hand, some expect a boost from tourism due to the political changes taking place in competitor countries in the Maghreb."
Amanda Lamb, presenter of A Place in the Sun, recently named Portugal as one of the most popular destinations to buy property.