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September 2019

SALES VOLUMES STABLE OVER THE MONTH

  • Price growth regains some momentum
  • Sales hold steady during September
  • Enquiries and instructions continue to fall

Ricardo Guimarães

Director at Ci

“A number of new developments coming to the market simultaneously is being seen by some agents as a factor that is starting to change the balance between demand and supply. The rising volume in the pipeline, combined with high house prices, is reducing market momentum. Developers see as natural a slower market in a context of prices stabilising. At the same time, some have already started to launch new developments for the domestic demand and for middle class buyers, aiming to enlarge the market scope. This is also forcing second-hand owners to be open to lower price proposals”

Simon Rubinsohn

Senior Economist at RICS

“The Portuguese economy is expected to expand by 1.7% throughout this year as a whole, with growth cooling to sligtly furtehr next year. The recent election result appears unlikely to signfiacntly alter the outlook, although it does remove one source of uncretianty. This apeaprs to be translating into a relatively steady house market backdrop for the time being.”