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Portuguese property market still deteriorating

Posted on 24 June 2011

All the signs indicate that the Portuguese property market is still slowly deteriorating, as figures from the May RICS/CI Portuguese Housing Market Survey show sales activity and pricing are continuing to weaken.
Further gloom comes in the form of the National Activity and National Confidence Indices which both dropped seven points to -39 and -60 respectively. The country is currently braced for a new wave of austerity measures as the newly elected Social Democratic government is under a lot of pressure from both the IMF and the EU to implement measures they considered necessary in order to secure an EU bailout of about £70 billion………………………………………..Full Article: Source


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