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Real Estate Briefing - Categorized | Finance, Market Moves more

Portuguese real estate prices plummeting

Posted on 08 January 2013

Demand for Portuguese property is reducing by the day due to continuing declines in transaction expectations, rents and residential real estate prices. The Eurozone debt crunch along with the worldwide financial crisis bears responsibility for the poor performance of the country’s real estate industry. An unemployment rate of 16.3 per cent coupled with stringent lending conditions has made it difficult to ensure a recovery anytime soon.
Confidencial Immobiliario and the RICS (Royal Institution of Chartered Surveyors) conducted a survey on the housing market in Portugal, reporting that weak demand has resulted in a decline in rents and property prices in the country………………………………………..Full Article: Source


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