Portugal property prices continue to fall

Consumer confidence appears to be worsening in Portugal's property market, with the Royal Institute of Chartered Surveyors reporting that national real estate prices have fallen every month since December.

Since the resignation of Prime Minister Jose Socrates last week after his austerity budget failed to pass through parliament, it seems the nation is in economic freefal, and property prices are reflecting this, said an RICS spokesman.

"These concerns are being amplified by higher unemployment and political uncertainty", he said. "On the other hand, some expect a boost in tourism due to the political changes taking place in competitor countries in the Maghreb."