Expert Says Portugal Will Be First to Crash in 2023

Are you looking to buy a property in Portugal? Should you do it now or wait? An article from Value of Stocks was written where one expert predicts that Portugal will be the first housing bubble in Europe to burst in 2023. Why? Josh at ExpatsEverywhere breaks down several factors to consider. Is it foreign investment? Low interest rates? Variable vs fixed rates? Let’s take a look!

Over 93% of all mortgages in Portugal have variable rates, compared with the European average of 15%, affecting 1.3 million families.
With rising interest rates, foreclosures are expected to rise in 2023.
Real wages have decreased 4.6% in the first half of 2022, and the wage increases in 2023 will be lower than inflation.
Rising interest rates will also contribute to increased costs for personal and auto loans.
Higher inflation and higher energy prices will put additional pressure on savings.


Republished by : ITUGAL


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