House prices in Portugal are set to experience significant growth, with a forecasted increase of over 8% per year for the next decade, according to a study conducted by the IFO Institute at the

University of Munich in Germany. This study gathered insights from over a thousand economists worldwide, focusing on the future of the global housing market.

The data comes from the Economic Experts Survey, a quarterly survey involving economics experts. Notably, this forecast arrives as house price growth in Portugal slowed down to 8.7% in the first quarter of 2023, representing the smallest year-on-year increase since the second quarter of 2021, according to the INE's Housing Price Index.

CNN Portugal's report suggests that Portugal is expected to witness an annual increase of 8.2% in house prices over the next ten years. The country is being analyzed within the context of other Southern European nations. Overall, the economists surveyed believe that house sale values in this region could rise by 10 to 15% in the coming decade.

The projected average growth for Southern Europe is significantly influenced by the expectations surrounding Malta, Serbia, and Albania, as highlighted by Timo Wochner, a researcher at the IFO institute. These countries are expected to contribute notably to the region's positive housing market outlook.