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Strong lettings demand in Portuguese property market continues

Thursday, January 26, 2012

A buoyant lettings market in Portugal continues to benefit from a weak sales market as tenant demand remains strong and rental values continue to decline, according to the latest RICS/Ci Portuguese Housing Market Survey.

The December survey, published today (Wednesday 25 January), shows that the sales market remains subdued, with demand, supply and prices continuing to fall. That said, sales activity whilst still falling, did so at a slower rate than November.

The National Price balance moved from -70 to -66, while the National Confidence index improved slightly, from -60 to -52.

With new vendor instructions continuing to fall (supply), house price declines are being driven primarily by anaemic demand, says the report.

Source: PropertyWire.com

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