Average house price increase in Portugal

villa3House prices in the eurozone were reported by have declined by -1.4% in the final three months of 2013 compared with the same time in 2012.

Following a slight upturn in June 2011, prices in the region have been steadily falling since, Eurostat reported.

In Portugal, prices were found to have gone up by 1.4% in the last three months of 2013. In fact, mild growth was registered from April 2013 until the end of the year.

Compared with 2012, however, annual prices dropped by -0.6%.

The figures are for all of Portugal.

The largest annual falls were experienced in Cyprus (-9.4%) and Spain where prices continue to drop (-6.3%). Foreigners were still buying property in Spain, making investments increase for the fourth year in a row. Last year €6.5 billion was invested, a 16% increase over 2012 and the highest figure since 2004.

According to the society of property registrars, the biggest number of foreign investors in property are Britons (15.1%), followed by the French (9.8%), Russians (8.6%) and Belgians (7.3%).

Ireland, another bailed-out nation, saw an annual price rise of 6.3%. Other eurozone countries where prices were rising include Estonia (15.6%) and Luxembourg (4.8%).

Annual prices in the UK recorded a rise of 5.5%.