Home / Business / Lack of supply blocks home sales in 24 billion

Lack of supply blocks home sales in 24 billion

Lack of housing on the market slows down the real estate business. It is expected that the year will close with a turnover of around 24 billion euros (24.1 billion euros) as in 2018. The forecasts are from Luís Lima, president of the Association of Real Estate Professionals and Companies of Portugal (APEMIP), who points to the lack of inventories to stop the activity. "This is a year of stagnation," he emphasizes.

Patricia Clímaco, partner of the Castilian real estate agency, admits that "the transaction volume this year will remain around 5% or even decline slightly". In view of the reduced supply of housing, "According to Cristina Arouca, Director of CBRE, both Lisbon and Porto are experiencing a decline in sales" due to a lack of supply and, above all, adequate housing supply in terms of product, location and housing Price is "responding to" high latent demand in the middle class. "A similar opinion predicts Ana Jordão, director of Predibisa, for the available properties in Porto" clearly not enough for demand "and with" little supply for the middle segment "

Source link