The price of homes in Lisbon recovered 22 percent between the end of 2012 and the end of 2015. According to the Residential Price Index, the recovery of housing prices in Portugal has been underway for eight consecutive quarters. In 2015 alone, the index grew 11.9 percent compared to 2014, exceeding the already promising recovery of 7.5 percent recorded that year. This trend is also visible on home prices nationwide, although the pace is slower outside the capital. Having hit bottom in the 2nd quarter of 2013, the national average in Portugal ended 2015 5.3 percent up. More than half of this growth (2.9 percent) was achieved in 2015, a faster pace than the 2.3 percent growth achieved in 2014. Growth has continued into 2016, with prices rising an estimated 2.6 percent over the first two months of the year.
