Homes in Portugal have lost about a quarter of its value over the last 15 years. From an international perspective, this marked the highest level of depreciation in real estate prices of any country. That’s the outcome of a study called Going for Growth that was carried out by the Organization for Cooperation and Development Economic (OECD) – which compared these data in 24 countries. Devaluation of Portuguese homes reach 26 percent, while Spain saw residential properties rise by 25 percent, while even Ireland managed to improve by 11 percent. On the other hand, Japan saw a drop of 20% and 11% in Greece. Housing prices in all other economies analyzed by the OECD are now higher than they were in 2000, particularly in Sweden, New Zealand and Australia where prices more than doubled.
