Home sales recover 23%

in News · 19-06-2020 01:00:00 · 0 Comments

House sales in Portugal increased 23 percent in May, compared to the previous month, after a 53 percent drop in April, according to the Housing Sales Volume Index of Confidencial Imobiliário.

According to the report, “this resuscitation caused the month of May to reduce the slope to 41 percent compared to the activity levels recorded in the pre-covid (January), in a clear recovery in face of the 53 percent decrease that was observed in April”.
These are the first results of the new Housing Sales Volume Index, to monitor the behaviour of housing sales in mainland Portugal.
April was the month with the greatest loss of activity compared to January, although a reduction in sales was noted as of February, with transactions falling by 6 percent compared to the previous month.
In March, this decrease worsened to 17 percent, when containment measures were adopted.
The biggest retraction occurred in April, with a decrease of 53 percent.
“Even so, this means that, in full confinement, the market was able to maintain an activity level of around half of the pre-covid, which is still remarkable. It is a sign of his resilience, now confirmed by the results of May, a month that, with just a few days of deflation, already shows monthly recovery in sales and reduces the slope compared to the pre-covid level”, says, in a statement, the director general of Confidencial Imobiliário, Ricardo Guimarães.


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