Portugal housing market remains slow

Property sales are continuing to fall in Portugal although estate agents and developers are finding a less severe pricing environment in the country’s real estate market, according to a report published on Friday.

Confidence though in the market is subdued, the December report from the Royal Institute of Chartered Surveyors shows. The Lisbon Metropolitan Area (LMA) and Oporto Metropolitan Area (OMA) encountered a less severe pricing environment compared to November, but the Algarve did not.

The relative improvement in the pricing environment during December can mainly be attributed to the fall in new instructions to sell property that was concentrated in the LMA and OMA regions. New buyer enquiries continued to fall sharply, but less so than in November and this was evident across all regions covered in the RICS/Ci Housing Market survey.

And the transactions picture continued to deteriorate, with more respondents reporting falling rather rising than sales compared to November.

Source: Propertycommunity.com