Hi there, hope you and families are doing fine and enjoying the time together.
Below is a summary of Cushman and Waikfield survey on Portugal Real Estate Market:
“With regard to investment in real estate, international investors continue to be very interested in Portugal, and although there are some uncertainties, investors show interest in closing deals as soon as the market starts to return to normal and many investors demonstrate their availability for opportunistic businesses at this time.
In the residential market, a significant price adjustment is not expected while in the offices there are still no signs of significant impact on the lease values. In the industrial and logistics segment, the prospects are less positive. In the hotel industry, the scenario is bleak, although Cushiman considers that the fundamental bases of tourism have not changed, so the activity should gradually return.”
These past weeks we did have more interest on our houses coming from abroad (England, Denmark and Russia – I have call on Tuesday) and we had more clics on our advertisement, which is in line with the survey. However, I did notice a decrease on the rental rates as well as saw some offices being put back on the market (including a neighbour door), differently from what Cushman is reporting. So far, prices for our houses have not been questioned. I am waiting to see what banks will report.
In regards to the construction, we continue moving ahead without major hurdles. This past week we concreted the first walls on the basement and are preparing the floor for ground level on Lot 6. Lots 8 and 9 are still in analysis with the Camara (processes slowed down due to Quarantine).