Portuguese Housing Market Survey

“The latest results from SIR (Residential Information System), referring to August, point out another quarter with a very high level of transactions, after a recent record of around 50 thousand transactions in the previous 3 months. That dynamic is above the level registered before the pandemic, at the end of 2019, when the market was posting its best performance ever. Summertime always brings some decrease in activity, but there is no doubt that recent dynamics are boosting the market and pulling up agent’s expectations.”

“Recent data suggests the Portuguese economy continued to recover in Q3, albeit the pace of growth seems likely to have moderated compared with Q2’s 4.9% rise in output. Although the downside risks associated with health situation should not be overlooked, strong domestic demand appears set to be a key driver of growth going forward. This should continue to support activity in the housing market, with survey expectations consistent with a solid degree of momentum being maintained over the rest of the year.”