Poor economic outlook affecting property market in Portugal

A weak economy and lack of lending is continuing to depress the residential property market in Portugal, according to the September RICS/Ci housing market survey published today (Monday 24 October).

The National Activity index has turned slightly less negative, but the National Confidence index edged lower last month, according to the report from the Royal Institution of Chartered Surveyors and Confidencial Imobiliário.

Demand rather than supply is the main factor weighing down on prices and activity in the Algarve is not quite as negative compared to Lisbon and Porto, it also shows.

The National Activity index edged up from -33 to -27, while the National Confidence index edged down from -51 to -53. The national price balance fell further from -59 to -65, the lowest reading since May.

Source: Property Wire