Portuguese Housing Market Survey

“Instability is the key word from all agents that left a comment along with their response to January’s survey. This was either referring to fiscal uncertainty, to new lease law changes, or to international investment new rules. The market is constrained by exogenous and political factors that threaten its attractiveness to new investors. Nevertheless, agents are confident about its value and do not see price correction as an alternative, especially in a context of increasing costs from licencing and construction activities. Therefore, sales are slowing, in a context of prices’ resilience.”

“The latest results hint at a slight improvement in sales market momentum over the survey period, with buyer enquiries rising for the first time in several months. This is consistent with a modest pick-up in consumer confidence towards making a major purchase at present, reported by the European Commission.”