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November 2019

CONDITIONS REMAIN SUBDUED ALTHOUGH SALES PICKS-UP SLIGHTLY

  • Enquiries and instructions fall again
  • Agreed sales rise slightly at the headline level
  • Prices marginally higher

Ricardo Guimarães

Director at Ci

“The market remains steady, however there are positive signs that the recent slowing trend may now be reversing to some extent. Interest rates prospects might be one of the main factors keeping a lid on demand for now. As such, for the agents in this survey, it is not quite clear whether prices will decline in the near future. This means that uncertainty is likely to persist in the coming months. Feedback from respondents suggests that sellers are still open to negotiations and want to reach an agreement, a result a much more cautious approach from buyers that have also become increasingly price sensitive. This points to a critical issue in the market; the need of house prices to be compatible with buyer purchasing power.”

Simon Rubinsohn

Senior Economist at RICS

“The Portuguese economy grew by 0.3% in Q3, a notceable slowdown compared to the solid rate of 0.6% posted in both Q1 and Q2. Meanwhile, the European Commision’s survey shows consumers’ confidence in the general outlook for the economy has faltered slightly over recent months, in keeping with the generally stagnant housing market backdrop at present.”