Why is it the best time to get on the Property Ladder here in the Golden Triangle, Algarve, Portugal?
Our Answer: With a stronger Pound, the French property acquisition “Invasion” and the Market Stabilization, bargains are dried up and good opportunities harder to find. Lack of available select quality properties and price hikes will follow.
That is why, we are here to assist you in finding that special property, at the right time…which is…Now!
We have our ears on the ground, so our clients have smiles on there faces!
See you soon! The Team at Ferrada Properties
Agreed home sales in Portugal rose at their fastest rate in the last five years, prices are expected to rise 2% in the next year and sales expectations reached a new high in May, according to the latest market index.
The national confidence index, a composite measure of near term price and sales expectations, jumped from +33 in April to +46 in May, a record for the RICS/Ci Portuguese Housing Market Survey (PHMS).
At the same time, agreed sales rose at the sharpest rate on record since the survey was launched in 2010 and have now improved for 15 successive months.
There was also good news in the lettings sector, with tenant demand rising at the quickest pace since August 2014. Rents are stable, but they are expected to rise over the next three months.
RICS Chief Economist, Simon Rubinsohn is cautiously optimistic. “Genuine confidence appears to have returned to the market in recent months, with the recover y in both sales and prices expected to gather speed going forward. However, risks to the economy have not passed yet and the potential for these to derail progress should not be taken lightly.”
In the sales market, new buyer enquiries increased at the quickest pace in three months with growth accelerating in Lisbon, the Algarve and Porto, which the PHMS covers.
Against a backdrop of sustained growth in demand and activity, prices continue to recover at a steady pace, as has been the case in the last five reports. Near term price expectations are now stronger than at any other point in the survey’s five year history, reflecting the firming market fundamentals.
Over the next 12 months, agents, developers and other industry professionals that have contributed to the survey, anticipate prices will rise by around 2% nationally.
The strongest gains are expected to come in Lisbon and the Algarve at around 2.5% and in Porto prices are expected to rise by just over 1%.
Ricardo Guimarães, Director of Ci, concludes, “For the first time in a few months, real estate agents are star ting to mention the European situation as a source of potential risk. Nevertheless, positive comments are dominant, especially due to the improvement in credit availability and the reduction in spreads.”
The RICS/Ci Portuguese Housing Market Survey is a monthly sentiment survey of estate agents and developers who operate in the Portuguese residential sales market in Lisbon, the Algarve and Porto. The data is regionally weighted and operator (agent /developer) weighted.