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November 2017

Supply pressures intensify

• Demand growth softens

• New sales instructions continue to fall

• Price growth remains firm

Ricardo Guimarães

Director at Ci

“Almost all real estate agents participating in the survey have the same concern: the lack of houses that are available to respond to demand is limiting activity and squeezing prices up. This is true both for the sales and the rental markets. The latest figures from Confidencial Imobiliário show a huge increase in the number of new residential projects in the pipeline. A year on year comparison shows a growth rate of 66% in the Lisbon region, with the rise standing at 82% in Porto’s region. New developments will benefit from price pressure and help to stabilize the market.”

Simon Rubinsohn

Senior Economist at RICS

“The Portuguese economy has maintained solid momentum in recent quarters, with 2017 looking likely to have delivered the strongest growth in over a decade. The outlook for 2018 is similarly positive. Strong employment gains alongside low inflation should continue to provide support for consumer spending and ensure the housing market backdrop remains favourable going forward.”