Portuguese Housing Market Survey

Agents are all very clear: the lack of supply is the main constraint on their activity and also the main factor determining how prices are changing. This appears to be a topic that will dominate trends over the coming months. In the meantime, prices are starting to move up, and not only in the main cities. Price growth is becoming more widespread and this may induce a turning point, enabling the development and financing of new properties, thereby reducing the gap between demand and supply. But this will take time to occur.”

“Employment growth has accelerated across the Portuguese economy in recent months, with the latest figures showing an annual increase in excess of 3%. This sustained improvement continues to support housing market activity and prospects for further growth over the year ahead look promising given the current macro climate.”