Activity in the Portuguese property market picked up in September, following a poor previous month.

According to a new housing survey in Portugal, while there was a rise in property prices, confidence in the market is still fairly poor as many people do not have faith in the housing market and are holding off buying property in Portugal.

This has prompted many sellers to reduce their asking prices – making now the ideal time to buy in parts of Portugal. If a property has been on the market for a while there is a very high chance of the seller lowering that price or accepting a much lower offer, because the many vendors are desperate to sell.

A senior economist in the country had this to say: “It is the demand side of the equation that is weighing down on prices in Portugal, with the double-digit unemployment rate feeding through to weaknesses in new buyer enquiries.” He also noted that although prices are falling, it is at a much slower rate than previous years.

To browse a full range of property for sale in Portugal visit the Portugal listings on Rightmove Overseas.

To understand the full step-by-step process to buying a property in Portugal, collect The Overseas Guides Company’s ‘Portugal Property Buying Guide’