The European Commission recently revised its forecasts on Portugal stating that the country would do better in 2010 than previously expected. According to the commission, rather than suffering a 3.7% contraction this year as had been previously predicted, the fall would only be 2.9%. It also said the country would see its economy grow by 0.3% next year, instead of declining by 0.8%. The new projection came after Portugal was revealed to have come out of recession in the third quarter. Such a situation could help bolster the property market as the country’s economic conditions improve, analysts said.