Portugal has fewer and fewer houses to sell. Spot price escalation – Real Estate
There is a clear slowdown in the supply of real estate in Portugal. At the end of April, 135,000 properties were available for sale, against 150,000 at the end of last year, which translates into a drop of 6%.
A drop in the real estate supply that “can cause a short-term price escalation, especially in large cities”, warns the real estate consultant.
The biggest drop in inventory took place in apartments, with housing supply remaining relatively stable during the first four months of the year.
15 thousand new Porto Novos prices close on the market in the first quarter of metropolitan Lisbon, and 4 four new properties close to Porto that are very similar 18% compared to Porto in the last quarter of 2021″, in the Quarter of Nélio Leão, CEO of the last Business statement.
According to the analysis of digital real estate, most businesses are located in the areas of large cities, especially in greater Lisbon, and that there are fewer and fewer apartments for sale, used or new.
On the property sales side, notes Imovendo, the pace of business is similar to that of 2021, with more than 38,000 properties in the first quarter of 2022 and around 13,000 in April 2022, “that is, the active demand, despite rising prices and new constraints on Financial Housing.
“There is still a lot of uncertainty about an increase in juror rates, which will have to be either in July and/in September 2022 months in which an ECB executive committee meets with the governors of the central banks of the eurozone, but it is estimated that if that increase can be situated in the 25 base points if the same”, affirms Nélio Leão.
“Although past inflation is recorded for four higher rates, for a higher rate that is not desired”, emphasizing the increase in rates of I.
Accordingly, he concludes, “it is expected that this Leon, the war in Ukraine and the rest of the years, being a very resilient market in the last two years”.
On the other hand, Imovendo euros guaranteed in the first four months of years used, which represents an increase of 60% compared to the period of last year, being that “at the same time that another time passed was used, being that “at the same time passed to the their properties” more than 500 thousand euros in real estate commissions, given that the business model differs from current practice in terms of commissions”, assures the digital real estate company.
“Our business model based on technology and digital allows us to charge only a fixed commission to owners, which makes it a robust model and better prepared for times of crisis than the traditional real estate model”, Defenda Nélio Leão, considering that, “the owners of the center of the process, which makes them increase the efficiency gains”.
Expectations regarding the purchase and sale of properties in the domestic market for the first half of the year are stabilizing compared to the first half of last year, notes Imovendo.
Based on figures, the real estate company expects to reach 50 million euros in properties transacted in the first half, in Lisbon and Porto, “that is, doubling the number of properties transacted compared to the first half of 2021”, he concludes.