The Portuguese are disappointed in buying and selling houses

Buying and selling homes remains a challenge in Portugal. Half of the Portuguese population is disappointed about buying and selling property, according to a survey by Imovindo of more than 5,000 respondents, including owners and potential buyers, conducted between April 26 and May 8.

The expectations of those who want to buy or sell a home are unlikely to continue to be met, as house prices, according to the European Commission, will continue to rise. Half of those surveyed consider property prices to be the most important decision factor.

Participants were split regarding the challenges they face in the home buying and selling process, with 32.7% blaming a lack of supply, 21.2% citing financing as the main problem and 13.5% blaming the bureaucratic process.

For those who sold a home in 2024, financial circumstances were the main reason, 13.9% did so due to family changes and 8.3% for professional reasons, in a year in which 60.4% of respondents to this survey felt that house prices had risen. 57.7% say that demand for real estate is greater than supply, compared to only 23.1% who believe that the opposite is true.

Regarding the buyer profile, 49.1% of people feel that they are investors, 30.2% say that they are families, 13.2% are young workers and 7.5% are foreigners.

An overwhelming majority of the Portuguese people (81.1%) say that the new government should not only review the More Housing programme, but also make it a priority. Aiming to provide an “immediate” response to the housing crisis, the government of Luis Montenegro presented the “Building Portugal: A New Housing Strategy” program on 10 May. The duration of implementation of the 30 measures taken by the executive authority ranges from 10 days to four months. Here are some:

– Making public property available for affordable housing (90 days)
– Taking advantage of vacant or underutilized public property (10 days)
– Amending the Soil Code to allow the use of rural land – at controlled costs – for affordable rent, temporary accommodation or the provision of job housing for teachers, security forces, agricultural and industrial workers and the tourism sector (60 days)
– Establish a constructive bonus in cost-controlled housing projects, affordable rentals or temporary accommodation (90 days)
– New urban centers surrounding urban pressure areas, with sustainable urban plans and in coordination with transportation provision (study in 120 days)
– State guarantee on credit for construction of cooperatives with delivery of public lands (90 days)
– Lines of credit for promotion Building for rent (60 days)
– Agreement with sector agents to increase construction capacity – stabilization of production capacity, manufacturing process, and attracting and qualifying resident workers
Reducing the value-added tax to a minimum of 6% for rehabilitation and housing construction works, with limits that depend on prices (until the end of the legislative term)
– Opening 25,000 PRR homes with the approval of the liability condition from the municipal chambers (10 days)
– Increased funding to enable the development of thousands more nominated homes, but not funded in the Standing Response Report (30 days)
– Strengthening the promotional capacity of the Institute of Housing and Urban Rehabilitation (IHRU) through public construction of the EPE programme, in implementing affordable rental program housing (10 days)
– Forced rent cancellation (10 days)
– Cancel the Mais Haitação procedure that guarantees and replaces the state as lessee (30 days)

Regarding the poll, there remains a split split on reinstating the golden visa policy, with 45.1% agreeing and 41.2% opposing.

When asked what the priority action to address the housing crisis was, some supported “simplifying city hall licensing processes in major cities” and “reducing taxes on purchases, sales and construction.”