A consumer survey reveals that seven out of ten Portuguese individuals (70%) already own a home, despite high property prices being the main challenge (28%).
“The majority of respondents value the stability of owning a home, although they face significant challenges such as high prices, difficulty obtaining credit, and economic uncertainty,” according to a statement.
The same note indicates that home ownership is a reality for 70% of the population, citing data from INE. However, the report shows that 43% already have their home fully paid off, while 26% are still making payments.
Meanwhile, renting remains a solution for 25% of those interviewed, with 5% living in properties provided by family or friends and 1% in other situations, such as living with parents.
Another finding is that a large portion of respondents (52%) live with a partner, while 15% live alone.
Co-living arrangements with parents or other family members account for 17%, with 13% residing with children. Less common situations include living with friends or colleagues (2%) or sharing a house with strangers (1%), as in the case of room rentals.
Among those who do not own a home (31%), 9% plan to purchase a property within the next 12 months, and 18% aim to do so within one to three years.
However, 33% express a desire to buy but have not yet set a specific timeframe. Currently, 40% have no intention of acquiring any type of housing. Regarding consumers’ preferred type of property, houses, specifically detached homes, represent 67% of responses. Only 25% prefer apartments, and 8% have no preference regarding property type.
Notably, for those who choose to own a home, the main benefits indicated are a sense of security and stability (23%), the freedom to make changes or personalize their space (21%), and long-term investment potential (19%).
Avoiding rent increases (15%), property appreciation over time (12%), and family life planning (10%) are also highlighted as important advantages by respondents.
Price is the main challenge
The greatest obstacles to purchasing a home continue to be high property prices (28%) and the lack of money for a down payment (19%). High-interest rates (17%) and economic insecurity (15%) also negatively influence consumers’ decisions, as do difficulties in obtaining credit (12%).
Furthermore, 4% indicate a lack of properties that meet their needs, 2% cite a lack of information or guidance, and 3% point to other reasons, such as concerns about the safety of the area where they intend to buy, not currently facing difficulties, or not intending to purchase a home soon.
