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Risk of Real Estate Bubble in Portugal is “Minimal”, Says Faria de Oliveira
30 October 2018
Is there a risk of a real estate bubble in Portugal? The president of the Portuguese Banking Association (APB), Fernando Faria de Oliveira, says no, stating that the probability of a serious risk in Portugal “is minimal.”
“We have reflected a lot on this subject regarding the banking system as a whole, and we believe that, at the moment, the banks are rigorously complying with regards to the concession of housing loans. We are quite serene, “said the president of APB, quoted by Lusa, about the possibility of a real estate bubble in Portugal.
The official admitted that “there would be a need for some readjustment of the domestic supply” and that “prices must be monitored,” adding that “the probability that this constitutes a serious risk is minimal.”
“If we compare the current situation with the one that existed before the crisis began, the volume of lending is considerably lower. The banking system is acting with prudence,” said Faria de Oliveira during the conference “The Future of Money”, organised by Dinheiro Vivo, TSF and EY.
Original Story: Idealista
Translation: Richard Turner