Portugal reports Q1 2026 housing price slowdown, budget surplus and lower per‑capita GDP

Portugal’s first‑quarter 2026 data show a slowdown in house‑price growth for the first time since 2024. The INE reported a 17.8% year‑on‑year increase in the Housing Price Index, 1.1 points lower than the previous quarter, while the number of transactions fell 8.7% year‑on‑year to 37,745 units. Sales of existing homes dropped 8.0% year‑on‑year, and new‑home transactions declined 11.6%.

The same period’s public‑sector accounts revealed a modest fiscal surplus. According to INE, the national accounts recorded a €209 million surplus up to March, compared with the 0.7% of GDP surplus booked for 2025. The data also incorporate a revised resident‑population estimate of 11.424 million, which reduces Portugal’s per‑capita GDP to about 76.6% of the EU average, moving the country to roughly 22nd place in the European wealth‑per‑inhabitant ranking.

These releases together provide a mixed picture of Portugal’s economy: easing pressure in the housing market, a small fiscal surplus, and a statistical drop in relative living‑standard rankings.