RICS, in partnership with Confidencial Imobiliario, produces the Portuguese Housing Market Survey, a sentiment survey that collects and analyses the opinions of professionals in agency and development about the prices, availability and demand of residential property in three areas of the country: Greater Lisbon, Greater Oporto and the Algarve.
The latest iteration (June 2024) of the PHMS portrays a sales market
in a somewhat downbeat state, with demand slipping from last month
and promised sales remaining flat. Whilst current conditions appear
subdued, respondents have cited cautious optimism on how the sales
and lettings market may progress in the coming few months.
Looking at buyer enquiries to begin with, the latest net balance
reading came in at -12%, which marks a noteworthy dip into negative
territory from last month’s figure of zero. Similarly, there was also
a noticeable decline in the net balance for new instructions. This
indicator, slipped further into the negative zone and stands at -23%,
down by 18pp from May 2024’s reading.