There are risks in home prices in Portugal, but measures are “sufficient”
In a report published today, released through a statement from the Bank of Portugal (BdP), the CERS reported on the “results of the assessment of transversal risks and term vulnerabilities of the specific real estate markets of the Member States of the European Union (EU), Iceland , Liechtenstein and Norway, carried out during the year 2021”.
Regarding Portugal, the “signed entity has estimated prices” and that “overvalued” and that “overvalued”.
“While part of this dynamic can be attributed to the existence of a prior understatement, such as proposed BdP estimates” from the European Central Bank which recorded an assessment in 2018.
The CERS warns that both estimates, however, do not have a higher uncertainty, because in some factors such as demand from a segment of residents not related to tourism will count.
“In 2020 and in the first half of 2021, the growth in house prices continued despite the pandemic”, says the entity, indicating that the average price growth was 8.6% in 2020, compared to 9.3% in 2019 and further highlighting that the number of transactions was already at pre-pandemic levels at the end of 2020.
According to financial customers, provided 20 with customers and payment costs, allowing customers to strangle payment.
Even so, the CERS warned, that is, the CERS of Portuguese families, which was going down until recently, but which has risen again, namely housing finance, which represents a relevant percentage, are variables a “source of risk”.
According to the international banks committee with 38% of the total quarter of the first quarter of last year.
In, the CERS considered that the “appropriate policies in this regard are applied in Portugal”.
In the statement BdPou recalls that “in 2019, its ESRB addressed to five countries (Germany, France, Norway and the Czech Republic) the alert is to six (Belgium, Denmark, Finland, Luxembourg, the Netherlands and Sweden) “as specific measures of the ESRB , are being designed as specific measures that are specific to the ESRB, are being designed and other policies, to make policy risks.”
“they were addressed to the authorities of the countries that, in 201 countries, received alerts regarding the situation or systemic risk in the residential real estate market and that have already received alerts regarding the institution or residential risk worsened”.
Currently, countries present a risk level of Sweden, today in countries that present a risk level of Sweden and today in the remaining countries present a risk level of Sweden this risk was small as”.
Thus, as a result of this assessment, “alerts were sent to five countries (Bulgaria, Croatia, Hungary, Liechtenstein and Slovakia) and addressed to two countries (Germany and Austria)”.
“In Portugal, the risk was assessed as medium level and the macroprudential policy by the Bank of Portugal was considered adequate and sufficient for the protected risks”, reinforced the entity.
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