Portuguese property sales are sustaining their momentum this year, despite a slight slowdown in Lisbon.
The latest RICS/Ci Portuguese Housing Market Survey found that contributors once again noted an increase in transactions in June. However, the pace of growth softened, mainly due to a slight dip in activity in Lisbon. In Porto and the Algarve, on the other hand, readings remained similar to the previous month. Indeed, sales are projected to increase in all regions over the next three months.
Meanwhile, demand growth lost a little impetus in the latest results (on a non seasonally adjusted basis), with a net balance of just 16 per cent of respondents citing an increase in new buyer enquiries (relative to 36 per cent in May). Again, this was most visible in Lisbon, where demand grew at the slowest pace since December 2016. New sales listings fell further in June, for a third successive month, with a decline reported in all three regions.
Confidence remains strong among property professionals, edging down from +38 in May to +29 in June, but still pointing to solid momentum expected across the housing market going forward, as the country’s improving economic conditions fuel the real estate recovery.
