The March 2017 RICS/Ci PHMS results point to considerable momentum behind the sales market with promised sales rising at the strongest pace on record (in net balance terms). This is matched by a pick-up in both demand and sales expectations. In the lettings market, the shortage of landlord instructions remains a dominant factor pushing rents higher.
Respondents reported a rise in transactions across the sales market over the month, along with an increase in new buyer enquiries. Overall, the March results are consistent with a more buoyant sales market backdrop and activity is expected to gather momentum at a faster pace than previously envisaged. This increase in overall activity is representative across all three regions (Lisbon, Porto and the Algarve). At the same time, sales expectations over the next three months strengthened at the national level for first time in three months. However, there was no change new sales instructions, indicating that the pick-up in demand has not been accompanied by a rise in properties coming onto the market.
Source : RICS