Portuguese Housing Market Survey

“The latest results show that the market, as well as the whole country, had almost no time to celebrate the vaccine’s arrival. The escalation of the pandemic over recent weeks renews pressure both on demand and supply dynamics, with several respondents stating that new enquiries decreased, conditioning the near-term perspectives. Nevertheless, market predictions for the next 12 months, according to the survey, are pointing to price stability, with a marginal 1.5% adjustment. The success of the vaccine and pandemic controls are the key.”

“With the pandemic continuing to take a significant toll on the economy, it understandable that confidence remains fragile amongst businesses and households. Reflecting this, a strong majority of consumers responding to the latest European Commission survey state they are not confident in making a major purchase during the current climate. The latest PHMS portray a similar message, with uncertainty over the future path of the pandemic likely to continue to constrain activity in the coming months.”