More recent data indicate a decrease in the volume of transactions, at least in the two largest Portuguese cities.
October data from Confidencial Imobiliário indicate, in comparative terms with the previous quarter, a reduction that approaches 10% between new and used.
Since this fluctuation mainly depends on the segment of new units, they show a change in relation to the previous period.
It should be noted that the data refer to the summer period, where there is often a reduction in the volume of transactions, a fact that demonstrates the existence of seasonality that is not always contradicted.
This feeling will be, apparently, contradictory with the increasing values of investment and licensing of new works.
To this reality can be added the growth of average property values, particularly in some geographic spaces. Growth of 0.3 in general and 2.3% for the Lisbon area according to data from the SIR - Confidencial Imobiliário.
Are we approaching a moment of inflection, to which political conditions are not alien? This is even after the European Commission has positively revised the data for economic growth for Portugal.
To which must be added the decrease in unemployment rates to levels below pre-pandemic levels, at least according to the preliminary data presented recently.
In fact, the political situation, with the fall of the government, and mainly with the inexistence of a State Budget (which should be extended for at least another half year), even with the possibility of implementing parts of the Recovery and Resilience Plan, the feelings turn out to be contradictory and will deserve extra attention in the coming months.
To which one can add the evolution of the pandemic, despite the high levels of vaccination that Portugal has, but which is again going through worrying levels in Europe and all over the world with the arrival of winter.
Due to this fact, and according to the Study that was recently published by PWC - Price Waterhouse Coopers, “Emerging Trends in Real Estate Europe 2022 – Road to Recovery”, and as reported in Vida Imobiliária, we are witnessing a distribution , and even alteration, of the type of assets in which investors will tend to invest.
But it will be a topic that we will focus on shortly with the assessment of trends that may be relevant for the coming new year.
At this stage, it is important to keep vigilance in relation to the evolution of the market in its various variants, namely with regard to factors that may affect the evolution of the market, and on which Imobintel maintains its attention.
Now, as in past years, it is necessary to maintain and study the market and consumers and how to approach this market.
Something you can count on for our collaboration.
And what is your opinion of all these movements and evolutions?