Euribor rates are expected to remain high in the coming years and according to Bankinter's most recent forecasts, these rates will evolve as follows. This means that high interest rates should continue to cool the demand for houses to buy and housing loans, which will have an influence on prices, despite housing supply being scarce.

In this context, Bankinter assumes a clear drop in house prices in 2023 (+1.6%) compared to last year's appreciation (+12.7%). And also predicted that in the next two years house prices in Portugal will fall: -2% in 2024 and -2% in 2025, according to a report by idealista.