RICS/Ci Portuguese Housing Market Survey

Market Report provided by RICS

The September 2020 RICS/Ci PHMS results remain consistent with a generally subdued backdrop across the sales market, as consumer confidence continues to be negatively impacted by the pandemic. Nevertheless, in the lettings market, demand does appear to be recovering, with feedback pointing to a second successive monthly improvement. At the headline level, a net balance of -11% of respondents cited a fall in new buyer enquiries during September. This is more or less unchanged from the reading of -10% posted last month and continues to signal generally soft momentum behind buyer demand at present. When looking at the regional breakdown, new buyer enquiries were broadly flat in Lisbon, while both Porto and the Algarve continue see a negative trend in demand. Alongside this, new instructions coming onto the market also remain in decline, evidenced by a net balance of -16% of respondents noting a deterioration (net balance was-23% previously).