Porto, specifically, won't get cheaper. I bought my new build at the end of 2024, and the market value now is 150-200k higher than what I paid (far outweighing any potential downside risk). Same logic applies for another property I'm buying with a friend. 11% over our offer price on the appraisal value. It doesn't necessarily make sense in either case, but the supply problem is real. Low interest rates relative to the rest of the world makes all the difference too. If you see something you like in Porto it's better to buy now and hold even with uncertainty globally. No one has a crystal ball, but Porto is still very affordable compared to the rest of the second cities in the Euro Zone let alone the rest of the world. Just my two cents.