Portugal - the country of all charms
When we travel the country from North to South and if we have the opportunity at each point to contact with a local, we certainly will not leave that part of the country without getting to know about a charming story, a superb delicacy, an unforgettable landscape or a regional music. It is certain and known that everything seems to have already been said about our country, the famous "corner planted by the sea", full of sun, good people and friendly traditions. Owner of an unparalleled historical and cultural heritage, this country gathers the most beautiful mountains and the vastest plains, a unique coast and a very rich gastronomy. To know this nation is a unique privilege which once experienced will not be forgotten. It is with pride and vanity that we listen to the reasons why our clients, coming from all corners of the world, intend to live here, be one of us, learn the language and get to know Fado. I fondly remember an experience that involved two French clients / friends who, after buying their beautiful villa - which they decided to call "A Casa" (portuguese for The House) - asked me for help in a route to get to know the Alentejo. In a journey all done on two wheels, the photos taken in each stop were sent to me as well as the description of the smells they felt, the taste of the traditional dishes, the unmistakable wine and the Cante (folk lament) they heard in village taverns. This is an example of the soul that Portugal imprints on people... Those who visit it surrender to it, those who live there envy every compliment. This is also our role as real estate agents. To know how to welcome and guide those who come to us, full of dreams and eagerness to meet a new people. After this period that we are currently living, this sharing of ours will be even richer and more responsible. All over the world we hear news about Portugal and the way we have reacted to the pandemic and we will continue to do so, so that in the future, the new Portuguese legend will be the heroic way of how we have known to fight all fears. Portugal is waiting for you and its charms too! Text: Lurdes Duarte Picture: Martine Auvray by Pixabay
Goldman Sachs and Morgan Stanley already foresee signs of global recovery!
Based on an article published on May 5th by the notorious financial information platform "Bloomberg", some economists from Goldman Sachs and Morgan Stanley report that there are signs of recovery in the world economy, regarding the impact of the coronavirus and restrictions imposed on businesses and consumers. It is likely that economic activity has already reached its lowest point, it can be read in a report by the chief economist of Goldman Sachs. Goldman Sachs forecasts an average slowdown of 32% in the current quarter; a growth of 16% in the next quarter and 13% growth in the last three months of 2020 in countries with advanced economies. Meanwhile, Morgan Stanley's chief economist writes in a report published last weekend that there are already several indicators that the global economy was reaching its lowest level. With this, we can predict that consumer expectations are rising again, mobility has increased in relation to minimum taxes and household spending is falling in a slower fashion than in the first weeks of the pandemic. The expert's reading is that China's economy has already reached its lowest level in February, the Euro Zone is expected to hve hit it in April and the US will hit it by the end of May. HSBC, through economist James Pomeroy, warned of overly positive interpretations of the global economic recovery, preferring a more conservative stance. He quotes that figures from China show a slower recovery profile, which indicates that consumer spending may take time to recover because people are still afraid to buy or go back to work. With the easing of restrictions to combat the virus, the possibility of a second wave of the outbreak is real and could further disrupt activity. Therefore, the greatest negative risk to the global economic outlook is that infection rates will again accelerate sharply as the economy reopens. We also do not know today what the political reactions will be and what health control measures will exist in the future, as this crisis has also served as a lesson to what can and should not be done in a future public health threatening crisis. But at the same time these measures will also have to serve the well-being of current and future generations of the world population, whether or not they have been severely affected by Covid-19. If the word solidarity were to change from the simple word of an international treaty to a clear and definitive act of society, then this would be the greatest achievement! Text: Paulo Lopes Picture: Victor by Picjumbo
Teleworking - The challenges and the future
Before the current covid-19 pandemic, our daily work routine was essentially a trip to the office where we spent our 8 hours in a shared space with colleagues, and a trip back at the end of the day. When quarantine was imposed many companies were forced to send their workers home for their safety, and to implement remote working as the new standard. This was an easy swap for the companies who were already familiar with it and technologically prepared, but for others this change was almost painful. A first week with several phone calls, video conferences, technical problems, trouble organizing tasks, and some difficulty distinguishing work from personal life – Does that sound familiar to you? Yeah, you're not alone. Teleworking is nothing new and is even quite common in other countries, as it offers some advantages over traditional work. For example, it can eliminate the need of having a physical office, freeing up space and resources, and open up the range of options when hiring employees, as there is no longer a geographical limitation. For the employees, it saves them trips and meals away from home, and the increase in daily comfort results in greater motivation and productivity. There has to be, of course, a relationship based on trust and communication between the worker and the company, which can be maintained by the numerous technological tools available today. This flexibility of the workplace and working hours has been a growing trend for several years, but now it was accelerated by the current situation of the pandemic. Since many of us were forced to take the leap knowing that the next few months will be a return to a new "normal", what can we learn from the current experience? Everything indicates that many companies have embraced remote working and intend to expand more towards this option, either for hygiene and safety reasons of those involved, or as a way to stimulate the autonomy of their workers and project success. For some it means working permanently in this condition, while others may choose the option to rotate the work days between office days and teleworking. For the success of teleworking, the most important check points are: To ensure that the necessary at home work conditions exist; The employer and the worker agree beforehand on how the tasks will be performed and what goals need to be achieved; Regular contact between the team is maintained, in order to strengthen bonds and avoid any feelings of helplessness. For those who are experiencing some resistance to teleworking, remember: This is not a normal situation. We are working in our homes in the middle of a pandemic, anxious for our own and for the future, with children having classes at the same time, partners in the same on the same boat, lack of adequate equipment... that is, numerous factors that can easily have a negative impact on our assessment. Once this phase is over, who knows? Remote working can become your preferred (and your boss’s) work method. With the uncertainty of what will happen in the coming months, teleworking will continue to increasing as it is essential for the maintenance of jobs and the survival of many companies. It may even become the new norm. Text: Inês Bergmann Picture of: Anrita1705 by Pixabay
What will be the price of the house I'm selling or looking for after Covid-19?
The biggest question for Real Estate professionals on this day is to know what to tell their clients about what will happen to the prices of real estate in Portugal caused by the Covid-19 pandemic crisis and its consequences? For many analysts and specialists from the most varied areas, such as professional associations, banks, appraisers, economists and journalists this has been, in a way, the main question these days not only in Portugal, but all over the world. In a way it is yet too early to answer this question conclusively, however some direct and indirect effects can already be seen in the real estate sector. Somehow it is predicted that there will be some trend to hit the Real Estate market, but it does not mean that there will be a sharp drop. Real Estate has always been a thought-out and planned long-term investment, so we believe that prices will also adapt to the new circumstances and criteria in the search for the property. It is natural that there will be a price correction, but not just yet. There have always been those who, for reasons of balance, have sold their property for less value, but this will not be a general trend. This is due to the still exixting lack of supply of new properties and construction for new dwellings especially in the largest urban centres in Portugal. A greater price drop will be felt in central areas of the country with less population and less industry, but this is due to the existing lack of demand in these regions, which is not a new issue either. In these less procured regions, the knowledge of many real estate companies can come in handy in exploring their international contacts to attract more foreigners to find a second home at a lower price. As for the demand for investment properties in Portugal by foreign investors, the engine of the Real Estate boom in Portugal, interest has not slowed down. An economy reviewed and evaluated as a B+ by several rating agencies, renewed and more competitive as ours is today with lower household debt in the last 8 years to levels of 67% of the national GDP, and the Portuguese response to the outbreak of Covid-19 are signs of great interest in the Portuguese market. The international consultant Cushman & Wakefield, in an article from few days ago also referred; as well as did other analysts. However, there are signs and indicators of change, as revealed by the National Statistics Institute (NSI) last Monday, and for the first time in the last 4 years, there was a decrease in the average price of house valuation in March. On the same line and unrelated to the pandemic, Lisbon is registering lower figures than the national growth, with prices rising 7.9% in the capital city, against 8.5% in the rest of the country. We are doubtful that the March figures may already be reflecting the effects of the Covid-19 Pandemic, since after December 2019 there was already a trend towards stabilization, even though there were still small increases in the monthly valuation figures. We also do not believe that statistical data from April can already tell us which way we are going, taking into account the fact that transactions have practically ceased to exist, which makes it difficult to respond exactly to what effect that this unprecedented pandemic may have on prices. We have to be realistic however, with a world going into recession, with significant falls in our GDP, it will be very likely that our Real Estate market will follow a downward trend in prices. We believe, however, that there will not be an abrupt decline, but rather, as already mentioned, an adjustment to demand and the new reality. We believe that properties with more space and a larger leisure areas will be the ones to come out of this crisis better. The paradigm of customer demand can already be seen in the online portals and on our website: isolated housing is being the most sought after at the moment. And also condominiums with green spaces and gardens, spacious balconies are more important criteria than ever before. For this and other factors existing today we do not believe in a scenario of steep price drops, but a gradual adjustment. Text: Paulo Lopes
12 steps to sell your house - The last 6 steps of preparing to sell your home
Welcome back! After getting to know in the previous article some of our tips for preparing to sell your property, I bet you're excited about the idea of knowing the following. Do not forget! If you have been on our social networks, enjoy and put your like...on our posts. There you will find many other suggestions that can help you. Ready? 7 - Take care of the outside of your house If it is a villa, think about painting or washing the outside walls. Trim the hedges, pick the leaves, mow the lawn, clean the entrance, remove cobwebs and bird droppings. If necessary, paint the main door and polish the hardware. Give your garden a new life by adding flowers and colour. Remember, a messy garden can give the image of a crazy house and the outside is the first thing buyers will see. In the case of an apartment, confirm that doorbells, video entry, outdoor lamps and common areas are all in working order. 8 - Deep clean You will want your house to smell good all the time, so it's time to put on your gloves, pick up your detergents and start cleaning. Get the entire family in this process as it can be very tiring. Do a thorough cleaning all over the house, it might even seem easier than last time, you'll have fewer objects to clean, don't you think? And when you're done, start cleaning again: you'll want your house spotless at visiting time and smelling nice. Try to always keep everything organized and clean including those stains on the shower glass door as you never know when you will have a last minute visit. This is a continuous process. 9 - Eliminate smells After deep cleaning most smells will have disappeared, but if any persist don't opt for incense or electric air fresheners. This will only disguise the smells and you don't know if buyers like the smell of that red berries’ candle. So choose to find the origin of that smell and eliminate it. It could be the fridge, roast from the previous dinner or pets. Beside cleaning, air the house well before a visit. If there are smokers in the house, forbid smoking inside for a while before you decide to put the house on sale. There is nothing more upsetting than the intense smell of cigarettes. A very useful tip is to make a good coffee minutes before the customers arrive. No one can resist the aroma of a freshly brewed coffee, can they? 10 - Add plants Start preparing the ground for the next stage by adding some plants to your house. The plants create a more welcoming environment and some purify the air. Add colourful fruits to your dinner table. This environment conveys calm and freshness and most people like these elements. Go to the florist, but remember do not over do it, we do not want the room turned into a jungle. 11 - Do Home Staging By now, and with all the tips I've given you, your house will be perfect to be launched on the market. Home Staging consists of cleaning and reorganizing the spaces. It's like a staging for the photo technician to take the maximum potential of the property. The goal is to value your home, make it more attractive and distinct from the others. When choosing your agent, always ask if you can help him on this point. As they say "the eyes eat first". 12 - Choose CASAIBERIA as your mediator Finally and so important is the choice of your real estate agent Casaiberia. Beside being able to give you all these free tips we will surely be your biggest ally in the sale of your property. We have a large team spread throughout the country working daily for the success of our customers. For us, a client is a friend, someone I want to trust me in one of the most important decisions of their life, the sale of their property. The success of selling your home starts when you choose a Casaiberia agent. Texto: João Molha Sources: Realtor/Trulia Picture of Merio by Pixabay, Igor Schubin by Pixabay, Jesse Bridgewater by Pixabay
12 steps to sell your house
When we think about selling our house, several thoughts haunt us. The first, and perhaps the most difficult to overcome, is to weigh the emotional side of our home, after all, it was our first home or where we saw our son grow up; where we lived all those family moments: the best and the not so good ones. Another thought that worries us is: What now? Where do I start? What documents do I need? ( https://www.casaiberia.com/blog/casaiberia-documentos-vender-a-casa-escritura-521 ) Should I contact a real estate agent? What can I do to make the house more attractive? In this article, I give you 12 simple and creative tips to make the selling of your house is as simple as possible, free of worries and in a fair amount of time. Shall we do it? 1 - Decide if you are really ready to sell This is one of the most important points, it is the starting point and the moment when you really decide to sell your house. In this case, it is not only your house that must be prepared to sell, first of all you have to prepare yourself. Getting emotionally, mentally and physically detached from the house can be a very difficult process, but once you make the decision, everything will be easier. Focus and put your energy into what your new home will be like. 2 – Turn it into neutral ground This is the moment when you really get down to business and start working on your home to receive the much desired buyers. Start by removing all the frames with pictures of you and your family. We don't want the buyer to be distracted by that picture of you on the beach or at dinner with friends. Other personal items, such as fridge magnets or your degree, should be removed. The focus of the buyer will have to be your home. Keep everything in boxes, well packed and put in the garage, or ask a relative with some extra space to keep them away... be creative. By removing these objects, you will add space to your home and make it lighter, and that is precisely what we want. 3 - Arrange the room We will now devote ourselves to tidying up. The goal is to keep taking everything we don't need. Start by packing some pieces you don't need and that you can live without for a few months. For example, that stool in the lobby, the hallway table, children or pets’ toys Arrange closet drawers and wardrobes, remove as many objects from balconies, window sills, tables and also remove that beach umbrella that has been behind the door since last summer. This way you create more space, make the house more appealing to others and help buyers to imagine their own furniture and objects in the property. Less is definitely more! 4 - Hide valuable objects Art, Jewellery, all objects that are of value must be stored and placed out of reach. We do not want the potential buyer to be distracted from contemplating these objects and, as the old saying goes: "Better Safe than Sorry!". Be careful. 5 - Renew Your house screams 1985? Here everything depends on you and whether you are willing to spend some money on renovation and add value to the property. If not, opt for some little works. Do a detailed survey of the house and detect small problems, such as faulty light bulbs and switches, blinds that do not close completely, loose cables and skirting boards, damaged doors and locks, to name but a few. No buyer will go ahead and buy na uncared house and a lot of work and expenses in sight. A house that is not very presentable may arise thoughts such as:: "what else could be broken? 6 - Paint Finally, get rid of that red wall from your room and paint the entire house in neutral colours. Even if they are boring colours to you, they may not be for the buyers, and by having a neutral colour you can paint it any color you want, maybe green. What you want is for buyers, when they first see your home, whether physically or online, to feel that they are seeing their future home. After these 6 steps, let me congratulate you because you are doing a great job! In the meantime, take a look at our website www.casaiberia.com and start looking for your new home. What do you recon? In the next article, I'll present you the remaining tips to complete the presentation of your property before putting it on the market. Until then, have a great day! Texto: João Molha Sources: Realtor/Trulia Picture: of Merio by Pixabay, Igor Schubin by Pixabay, Jesse Bridgewater by Pixabay
Why do real estate funds prove to be mostly crisis-proof?
For those familiar with the subject, it is not surprising that almost all categories of assets recorded heavy losses in March, with the exception of real estate funds. The question is whether prices are reacting slowly to the new situation, or whether real estate is the stonghold of stability.No one can say for sure that this is the case, but there are many good reasons to consider the second possibility. When the stock markets began to fluctuate in the first weeks of March, property prices were also affected showing to be part of this trend.Or rather, the prices of open real estate fund units in mid-March were even lower than they would have been justified by fundamental data alone - that is, by the values of the underlying homes. From mid-March onwards, the prices of some of the largest real estate funds traded on the European stock exchanges fell, on average by about 10 percent. No one can say for sure that this is the case, but there are many good reasons to consider the second possibility. When the stock markets began to fluctuate in the first weeks of March, property prices were also affected showing to be part of this trend.Or rather, the prices of open real estate fund units in mid-March were even lower than they would have been justified by fundamental data alone - that is, by the values of the underlying homes. From mid-March onwards, the prices of some of the largest open-ended real estate funds traded on the European stock exchanges fell, on average by about 10 percent. But only for a short period of time. The lowest point in the price trend was between March 14 and 22, by the end of the same month the difference between stock values and house values was only seven percentage points. Since then, it only observes the upward trend in stock prices, resulting in a decrease in the gap. Throughout the first quarter, real estate funds have even achieved something that almost no other class of stock has been able to do. There was a record of a price increase. Although it is small, being only 0.3% according to the Scope rating agency statistics, it is still an increase. https://www.scopeanalysis.com/#search/research/detail/163332DEDE However, we are not communicating that there is a recovery, as it is very difficult at this time to create any prognosis for the future. Several factors and variables have to be analysed, such as how long the closure of hotels, restaurants, shopping centres, industries, offices will last, because the income from the funds comes from the tenants, as does the profit for the distribution of dividends to investors. Therefore, the decisive factor will be the financial aid from the state, from the banks and from subventions to strengthen the cash flow of companies and individuals. And how many companies and jobs will survive the crisis? Bearing in mind that most of the properties in the funds' portfolio are office, retail and residential properties. It is necessary for each one of us to understand the great importance of fulfilling the duty to pay rents, so that the funds can continue to show good numbers and remain active in the acquisition and arrangement of real estate for rent. Conclusion: Real estate continues to be an excellent investment option, both institutionally, in the case of funds, or privately, in the case of individual acquisition. However, it also and above all depends on the assumption of your contractual commitments to pay your rent or your loan. Because otherwise, we will all suffer the consequences of a collapsing economy and an unprecedented increase in unemployment. Text: Paulo Lopes
What will the corona virus crisis change?
What we have noticed at first sight is that while the stock market fell by 40%, the real estate market has simply frozen in the short term. This is due to longer periods of business or simply to the transaction of the real estate: it is common for a viewing of the property to sometimes take a few days or weeks to be scheduled, however consultations and exchange of information, requests for credit and finally scheduling a notary. All this takes time and as such the property is not as vulnerable to highs and lows as the stock market. This plays in favor of the property as an investment and will not cease to be so in the future, because the uncertainty is dangerous. The longer the property is exposed to comparison with the stock market and its ups and downs, the more it gains in the condition and confidence of the investor. As the old saying goes, "A bird in the hand is worth two in the bush". That is why we can say that (residential) real estate continues to have a stable business model. Unlike the car industry, for example, which has problems both on the supply side (lack of supply parts and employees) and on the demand side (buyers are absent due to shop closures and insecurity of income), while in real estate, for example rented out, the following applies: contracts remain in force and tenants' demand remains. Market trends The hotspots will continue to be hotspots, however the countryside, because it has more space for the ordinary citizen and lower acquisition values of a property, may become an alternative for those who live on the cramped coast in houses and apartments, in the search for a more spacious solution for the family. We doubt that, in the future, property with less than 80m2 will be property for a family, but we believe that new concepts of living in communities with extended common spaces and green areas will attract more and more young and lonely people of various age groups. The construction of new apartment units, as well as villas, will in the future undergo a rigorous pre-study of demand and a pre-analysis of location. Places close to large centres that were seen as comfortable because of their proximity to the workplace will be more difficult to sell, since there will certainly be greater preference for space and quality of life. In view of the large offer of real estate funds from bad loans which are being resold and which will now, more than ever, flood the market in the coming months which is mostly in these former strategic points. Political changes Political changes, which have always been desired by some, will now have a better chance of being implemented. Assuming that, as a result of real and perceived social distortions, the housing market of the future (!) will be more regulated, there may be a new property tax contribution or an income tax reform, generating increased revenues for the state, and certainly some reform of the property transfer tax will be postponed so as not to reduce income for the state. As far as taxes and the legislator's restrictions are concerned, such news is always bad news at first, but only in the short term. In the medium term: when restrictive policy measures want to influence the housing market, the result is, and always has been, a disinvestment in construction, thus increasing shortages. The shortage itself leads to higher rents and higher purchase prices, which then finally launch the new (privately financed) buildings again - but now again at a higher price level. The real estate sector is for long-term investors, not for the adventurous. Text: Paulo Lopes
What will be the short and long term effects of the corona virus crisis, on the property market in Portugal?
Short-term effects Based on information from Market Analytics of the CASAFARI website, 210,233 properties have been withdrawn from the national real estate market in the last 30 days. This is due in first line to the difficulty of payment of the advertisements by individuals and some real estate companies. In the same period 148,745 Properties entered, thus having a reduction in supply of more than 25%. 6,259 Properties went up in price, i.e. 30% of the Properties compared to the 16,812 Properties that went down. But in the same period 2,367 properties were sold and 1,699 more were reserved. But these figures reflect a structural break in advertising and not a real effect on price: presumably the low cost properties were taken away because the (digital) marketing effort now needed is not worth it in this case. In contrast, higher quality properties aim to stand out in price for their longevity in value. Medium-term effects: The dent Throughout the year, price developments will depend on GDP: the deeper and longer the recession, the stronger the price effect. Since a recession is inevitable, this also applies to purchase prices. In general, we expect a decrease in purchase prices in the coming months, which will probably be between 10 and 20 per cent. Rents will fall considerably less and probably only for a short period, then continue to stagnate, as was the case before the COVID-19 crisis. Long-term effects: Recovery in sight We believe there will be a sharp recovery in GDP in 2021, assuming that the recovery of tourism next year on new quality paradigms can bring better quality and added value tourism as was already reflected in the last two years.In the last five years alone (as the Observador reported on 12.11.19), the growth in the number of tourists in Portugal showed an upward curve, with a sustained increase in a variety of indicators, such as the number of hotel guests (from 17.3 million in 2014 to 25.2 million in 2018) or tourism revenue (from 10.4 billion in 2014 to 16.6 billion in 2018). It is enough to say that in 2018, the share of tourism revenues represented 8.2% of GDP and reached 18.6% of global exports. In 2019 (preliminary data), the tourist accommodation sector (Hotels, Local Accommodation, Rural Tourism and Housing Tourism) registered 27.0 million guests, which generated 69.9 million overnight stays, corresponding to variations of, respectively, +7.3% and +4.1%, compared to the previous year. We have a more differentiated export industry and less dependent on one or two markets. The National Statistics Institute advanced in January 2020 that exportations increased 4.2%, due to the two types of trade, "corresponding to a deceleration in relation to the previous month (+5.5% in December 2019)". Conclusion: In the coming weeks and months, the market will have to be monitored very closely. There may be individual "bargains" after the freeze and a sharp drop in purchase prices, but special attention should be given to the signs of an upcoming recovery in purchase prices. Above all we will have to prepare ourselves for the changes that will come in the future, in what matters most after this confinement to the customer. Because in a way there will be gradual changes in preferences. We won't all go right after the crisis starts at home! But more than in the past we are prepared and equipped for this, together with the experience of remote contact and curfew systems, the specific characteristics of our homes will therefore take on greater or lesser importance than in previous times. In addition to the location and equipment, these include above all the number of rooms and the presence of a large balcony, or better still, a private garden, as well as a large storage room.In this context, we believe that concepts and forms of housing such as micro-apartments and house-sharing will have to be re-examined and reviewed from a new perspective. Text: Paulo Lopes
Frozen prices in the Portuguese property market for now? How could the future of the real estate industry in Portugal be?
There is already a lot of talk about this Corona virus crisis, and opinions are as different as the codfish dishes in my country, they differ from region and political colour as well as from the flag interest of each one who talks about it.In our opinion, it will not completely disengage the real estate market in Portugal, neither that of other countries. In our opinion, it will not completely disengage the real estate market in Portugal, neither that of other countries. However, as happened after the 2008 financial crisis, it is very likely that gradual changes will take place. These changes will affect supply and demand, the main factors determining the price - whether it is the purchase price or the rental price. Let's start at the beginning of our review After 20 years of internal migration to the expanding cities, eight years of tourist immigration and second residence in Central and Northern Europe. Following a wave of Residence Visa Investment from China, Brazil, Turkey and the Middle East, demand in the real estate market has not slowed to date. Therefore, the lack of supply is still felt in the demand that rose in the months of January and February and that made the 1st Quarter of 2020 have an increase compared to 2019 (year of all records in Portuguese real estate) of 11.4% in real estate transactions. Portugal is the European country with the lowest average of new housing construction per 1,000 inhabitants, reveals a study by the German institute IFO, quoted by Jornal de Notícias on 17.02.2020. The study analyzed 19 European countries and found that in Portugal there is an average of less than 1.5 new dwellings per thousand inhabitants, while in Finland, Austria and Switzerland there are more than 6 new houses built annually per 1,000 inhabitants. On average, in Europe about 4 new housings are built per year per thousand inhabitants. Portugal, which is at the bottom of the table of 9 countries, goes along with Italy and Spain, a country that at the beginning of the decade was facing a sudden correction in the real estate market. Text: Paulo Lopes
Properties for sale
Go to Page Nº: