“Even in this challenging macroeconomic context, the real estate market continues to show strong resilience”, said Patrícia Barão, Residential Partner at Dils Portugal, in a report by idealista.

This strength in real estate is reflected in the sales of houses carried out by market agents. From the developer VIC Properties, sales director Marcos Drummond says he has felt “a very strong dynamic since the beginning of the year”, both from Portuguese and foreigners. And CEO Alfredo Valente of real estate agency iad Portugal reveals that the first quarter of 2025 “was very good, with significant growth”, “I would say remarkable at all levels for the real estate market”.

“At the moment, what we feel is that developers are very attentive to opportunities, with an average of new project launches around 20% higher than what we had in the same period last year”, comments the person responsible for Dils, who believes that this dynamic will continue because “the new product has been absorbed very quickly”, reflecting the high demand for houses.

João Oliveira, CEO of Realty One, also says he is “certain” that developers will continue to bring more homes to the market, “especially because the market is selling quickly.” And he explains: “We recently put a development up for sale and investors buy without fear, because they realize that it is a safe way to earn more money, to monetise if they intend to put the houses on the rental market.”

What has been felt since Trump's announcement of tariffs is that there has been a “very significant fall in the stock markets” and that “assets considered safer are more valued in this context”, as is the case with gold. “Real estate is also, from a certain point of view, a very safe asset in the medium and long term”, especially because “it tends to appreciate, and can be a refuge for investors”, comments Alfredo Valente, from iad Portugal.

This means that real estate is considered “a much safer way to invest than bitcoins or shares, because it is a certain thing, the property is always there and tends to increase in value”, as summarised by João Oliveira. And Marcos Drummond, from VIC Properties, also confirms that “the public from a higher segment is already clearly taking money out of banks, taking money out of stock portfolios and migrating a little bit to real estate”.

Claude Kandiyoti, CEO of Krest Real Estate Investments, comments that in Portugal “there is a new group of investors who are more sophisticated”, a “new middle class, who want to invest but don’t know where. For them, investing in banking is more difficult given the uncertainty of the markets, so they prefer to invest in real estate”, he adds.

It is in this context that experts are confident that the real estate sector should remain lively and dynamic throughout 2025. “Portugal remains well-positioned within the European space to attract investment, whether European or outside Europe”, says the representative of VIC Properties. And Patrícia Barão, from Dils, really expects that the sale of houses and the volume of investment in housing registered during last year will be surpassed this year.