Markets, Business & Tech Briefing -- Sunday, 22 March 2026

PSI Index Holding Steady

The PSI index closed the week around the 9,000-point range, with a session high of 9,021 and low of 8,905. The index has posted annual gains of over 2,000 points, with a 2026 high of 9,329 and low of 6,194. EDP was among the top performers, gaining 1.58% to close at 4.45 euros in recent sessions.

EUR/USD at 1.159

The euro traded at 1.159 against the US dollar on Friday, maintaining strength above the 1.15 level. The currency pair reflects continued confidence in the eurozone economy, though global trade tensions and US monetary policy decisions remain key watchpoints.

House Prices: Fitch Projects 15% Rise

Fitch Ratings expects Portuguese property prices to climb 15% in 2026 following an 18% surge last year. The agency cites limited supply, strong domestic demand, and sustained foreign investment interest. The Bank of Portugal's prudent lending rules provide a buffer against bubble risk.

Construction Investment Hits 28 Billion Euros

Investment in Portugal's construction sector reached 28 billion euros in 2025, up 5.5%, according to AICCOPN data cited by the housing minister. Public works tenders totalled approximately 10 billion euros, described as an unprecedented figure.

Rental Market Shows Early Stabilisation

Rent growth in the Lisbon Metropolitan Area has decelerated from 5% to 1%, while national average asking rents fell 2% between 2024 and 2025. The Porto Metropolitan Area saw rent increases slow from 5% to 3%. Government reforms targeting vacant properties and inheritance deadlocks could further ease supply constraints.

Fuel Prices Climbing

Diesel is expected to rise 16 cents to approximately 2.09 euros per litre next week. Petrol will increase by 9 cents to around 1.95 euros per litre, according to DGEG data. This follows a broader trend of rising fuel costs despite a recent government-approved price reduction measure.

Aveiro Shopping Centre Gets 2.2 Million Euro Upgrade

Aveiro Centre shopping centre has launched a 2.2 million euro infrastructure and common areas modernisation plan. The investment signals continued confidence in regional retail despite the broader shift toward e-commerce.

Tourism Revenue: Slower Growth at 1.6 Billion Euros

January 2026 tourism revenue reached 1.596 billion euros, up 3% year-on-year but a significant deceleration from the 8.7% growth recorded in the same period last year. Tourism imports rose 5.7%, indicating Portuguese consumers are also spending more on travel abroad.

CP Railways Heading for Record Profit

The infrastructure minister confirmed that state railway CP will post a significant profit, marking a historic turnaround for the traditionally loss-making operator. The financial improvement comes alongside broader public investment in rail infrastructure.

Golden Visa Programme: Constitutional Limbo Continues

Proposed changes to extend citizenship requirements from five to ten years for Golden Visa holders remain in constitutional limbo. The Constitutional Court rejected four of seven proposed changes in December 2025, and the bill has been returned to parliament for revision. Discussion is scheduled for April 2026.

Lourinha Social Housing Requalification

The Lourinha Municipal Council unanimously approved a 926,000 euro tender for the requalification of the Areia Branca social housing neighbourhood, reflecting continued local government investment in affordable housing stock.

Transavia Expands Summer Routes to Porto and Faro

Transavia has expanded its summer 2026 programme with increased routes to Porto and Faro airports. The Air France-KLM subsidiary is building capacity around Portugal's proven leisure destinations, benefiting both the Algarve coast and northern Portugal's tourism sector.