Decline of house supply with increasing demand
The gap between supply and demand causes an increase in real estate prices
The supply of homes on the purchasing and selling markets and leasing declined further in continental Portugal, while demand continued to increase in both markets, according to "Portuguese Housing Market Survey" (PHMs). The pace difference between demand and supply has caused an increase in real estate purchase prices and lease, stated the survey conducted in October, based on 150 companies´ respondents in the real estate sector.
The real estate market analyzed three regions of mainland Portugal: Lisbon, Porto and Algarve, registered a continuous increase in demand. The survey found that this is the third month where the volume of offers on the market falls, which concludes that this dynamism has been reflected mainly in prices, which continue to increase, but this does not affect sales for the time being.
On buying and selling homes, the market transactions continued to grow in October, registering the highest growth since September 2015. There has also been an increase in demand in the rental market, in contrast to a decreasing supply by the few owners. Like the purchase and sale market, the gap between supply and demand also had an impact on the market, causing a rise in rents, which increased for 18 consecutive months.
Economist Simon Rubinshon of the Royal Institution of Chartered Surveyors (RICS) believes that demand for housing in Portugal should continue to rise due to continuous improvement in the labor market and the latest growth forecasts for the Portuguese economy. Real estate entrepreneurs, surveyed at PHMS, anticipate the possibility of a high price rise in Lisbon in the buying and selling market over the next year.
Fonte: Diário de Notícias
Municipal Property Tax will not increase in 2017
In 2017, the year of municipal elections, no Portuguese municipality will increase IMI (Municipal Property Tax). In fact, the tax not only will not increase, as will be cut by
Monthly loan payment for property decreases again in November
The monthly payment installments of the homes will once again fall in the revised mortgage credit agreements in November due to Euribor tax rates, which are continuing to fall. However, in the case of funding attached to the Euribor in three months, the fall in the monthly fee will be the lowest since June 2014.
What are the cheapest areas to buy property in Lisbon?
Find out what are the areas of the city where you can purchase a home at a lower cost. In recent years, many people left Lisbon to live in the suburbs, where besides the tranquility and ease of finding parking lots, one can buy home at lower prices. Due to the increase of tourists in Lisbon's historic city center is intended now more housing for tourists than to the housing of locals.
- Popular Recent