The sale of properties in Portugal increased by 23% in May, compared to the previous month, after a huge decrease in April. Yet house prices are not falling, according to Confidencial Imobiliário, a Portuguese databank of statistical data based on real transaction prices, yields, and residential lease contracts.
April was the month with the greatest loss of activity compared to January, although a reduction in sales was noted already in February, with transactions falling. In March, this decrease worsened, when the country adopted the containment measures. However, the biggest retraction occurred in April, with a decrease of 53%.
Even so, this means that, in full confinement, the market was able to maintain an activity level of about half of the pre-COVID, which is still remarkable. It is a sign of the sector’s resilience, which the results of May fully confirm.
The market shows a clear reduction in activity, but didn’t reflect on the prices. In fact, house prices rose 0.9% in May, compared to April.
As price being the variable that sums up all the pressures, this suggests that the market is resisting the price reduction strategy in reaction to the drop in sales, as there is a strong belief that the price levels practiced in the market have a strong probability of being observed again after the end of the pandemic crisis, says Ricardo Guimarães from Confidencial Imobiliário.
It is true that the measures to combat the pandemic have paralyzed an array of sectors around the world economy. This led the International Monetary Fund (IMF) to make unprecedented predictions in its almost 75 years: the world economy may fall 3% in 2020, dragged by a contraction of 5.9% in the United States, 7.5% in the eurozone and 5.2% in Japan.
In Portugal, the Government expects the economy to decline in 2020, obviously, but make up for it in 2021.
A Portugal Homes possui profissionais muito experientes e conhecedores, que trabalham com alguns dos promotores mais reconhecidos em Portugal . A nossa vasta experiência permite-nos guiá-lo pelas melhores opções de investimento.
Seja casa de férias ou uma propriedade para investimento, selecionamos as melhores propriedades para o seu perfil e tratamos de todo o processo do início ao fim. Mesmo após a venda! Os nossos serviços de pós-venda assumem a responsabilidade de mobilar a seu gosto, manter a propriedade na sua ausência, dar apoio ao arrendamento, no caso de querer arrendar e muito mais!
Para saber mais sobre Residentes Não Habituais em Portugal e sobre os nossos serviços pós-venda, preencha o formulário abaixo.
Thanks to Andreia Leite for the comprehensive and timely updates on the construction progress of the new development we purchased!Investidor dos EUA
Very helpful. Work with his heart. Mark is a very nice advisor.Investidor de Marrocos
Tudo correu lindamente. Consegui esclarecer todas as minhas questões.Investidor da Turquia
Ryan was an excellent real estate agent, he really steered me in the right direction based on what I said was important to me. Living in another country, I wasn't as familiar with the city as he is. Where I thought I wanted to live and what I truly wanted were not the same. He took the time to listen and figure out the best spot for me, and we are very happy with it - far more than we would have been elsewhere.Investidor dos EUA
A experiência geral foi ótima desde o acompanhamento até o pós-venda. Gostaria de agradecer especialmente ao Sr. Simon, à Sra. Francisca e à Sra. Mariana.Investidor dos EAU
George Hobson é um jovem agradável, conhecido como conhecedor, experiente, trabalhador, honesto e disciplinado; Senti-me muito confortável em fazer facilmente o meu investimento.Cliente dos Emirados Árabes Unidos