Real estate prices, activity and confidence have all taken a hit as a result of the economic situation in Portugal, the latest report has found.

The April housing market survey from the Royal Institution of Chartered Surveyors (Rics) and Confidencial Imobiliario (CI) shows that the country’s beleaguered property market continues to suffer.

Real estate agents are experiencing much sharper price declines than developers but overall the market is very depressed, it also shows.

The national activity index fell a further six points in April to –32, while the national confidence index declined by two points to –53.

CI spokesman Ricardo Guimaraes said that the housing market can be characterised by falling prices, falling activity and depressed confidence.

"This is set against a wider economic backdrop of accelerating inflation, elevated unemployment and a shrinking economy that was -0.7 per cent in the first quarter of the year," added Rics senior economist, Josh Miller.

Reports have suggested that the property market in Miami is "definitely heating up".

In an interview with Overseas Property Professional, Marie-Charlotte Piro of MC2 said that there had been an increase in the number of international buyers looking for real estate in the region.

"We’re seeing a surge of interest from international buyers who appreciate the South Florida climate and lifestyle as well as the potential of appreciation in real estate values going forward," she said.

"And, of course, ‘location, location, location’ is still the real estate mantra, with waterfront properties commanding better prices and moving at a quicker pace."

Meanwhile, Property Frontiers recently claimed that now is the ideal time to buy property in Florida.

The market has been in a steady decline ever since the boom years of 2006-07, with residential home values falling to levels previously seen a decade ago. Savvy investors have been quick to see the opportunities which exist in the market and many are taking advantage of cheap prices.