Portuguese Housing Market Survey

“The escalating number of virus cases emerging across Europe is adding further pressure to the economic outlook, with new measures imposed to contain the spread likely to hamper the recovery in the final quarter of the year. Consequently, this is likely to have negative implications for the housing market, which has been reflected by a slightly more cautious set of expectations returned in the latest survey.”

“Market data is consistent with the view that aggregate prices are stable and activity, measured by the number of transactions, is recovering. Nevertheless, this general framework is composed by very different market performances, segment by segment, and location by location. Specifically in central markets, previously oriented to tourist uses, both demand and prices are compressed. The same with some high-end product, oriented to international demand. Therefore, despite the market recovery, sentiment is conditioned and driven by uncertainty over the future.”