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February 2020

ACTIVITY LARGELY STABLE BUT FORWARD LOOKING INDICATORS DETERIORATE

  • Enquiries and sales resilient over February
  • But outlook weakens on coronavirus concerns
  • Prices still rising but expectations turn negative

Ricardo Guimarães

Director at Ci

“February was a transition month from “before” to “after” Covid-19. Some agents were already concerned about this new challenge and reflected that in their comments, pointing out the new phase that is expected to come. Others, despite still seeing the market in a normal framework, were also apprehensive about the future. These players were feeling the market losing strength. This comes as a natural effect of the cycle, but also from several law and fiscal changes put on the ground, limiting the investors willingness to invest. So, the question arises about the opportunity of re-evaluating those measures."

Simon Rubinsohn

Senior Economist at RICS

“The ongoing coronavirus pandemic is clearly going to carry significant repercussions for the global economy, with output set to drop sharply in H1 2020 at the very least. The situation is evolving rapidly, making forecasts incredibly difficult at this point in time. Nevertheles, the measures put in place to prevent to spread of the disease are likely to restrict housing market activity in Portugal for a period of time going forward."