Portuguese Housing Market Survey

Transcrição

1 Pugu Hug Mk Suv Rlói n p Mnl SETEMBRO 2014 mnhl Rp SEpTEMBER 2014 Ril mnd i Lbn nd Algv Pcu iil umn m Lb n Algv Nív cnfç cm, m cni piiv; Vlum ivid cnlid ccimn; Pç nã cmpnhm d umn d ivid Cnfi fll hpl bu m piiv; Acivi fu; Bu pic nd n hv pick up O S/Ci Pugu Hug Mk Suv () f um vliçã quliiv mnl c cmp vnd ndmn cm b m cc 100 p quéi O cném um piçã gl qu cb Lb, P Algv Th S/Ci Pugu Hug Mk Suv () pv quliiv mnhl mn l nd lg c bd n und 100 gul pn Th cn gl bkwn cvg Lbn, P nd Algv Mc Cmp Vnd Sl mk Mc Andmn L mk % SALDO % BALANCE OF SURVEYORS % SALDO % BALANCE OF SURVEYORS SET SET O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S Sl p cmp Bu Enqui Vnd cdd Agd Sl Sl p liv pç Pic Bl Índic Cnfç Cnfi Inx Pcu d fmíl Tnn mnd Inuçõ ppiái Lndfd uc Expciv vlum Vlum xpc Expciv nd Rn xpc Rnd Rn Fn / Suc: Ci/S Hug Mk Suv Fn / Suc: Ci/S Hug Mk Suv Api

2 Pugu Hug Mk Suv PORT UGUE N/C i N f di Inquéi Cnfç Expciv Qu ndê pç vnd mc? Qu xpciv n póxim 3 m? Cm vlum nd pcu n ndmn? Acmpnh mc vé, um quéi mnl mdi pm imbiliái S p n mc, g pl cmuniqu u cnc lmn É gui! Sib m m wwwcnfiilimbiliicm Picipm n : Api SE HO USING MARK Acc ET SU RVEY A Ci d Ci AG - Cnfi OSTO d il Im AUGU p biliá ST 201 p i é 3 umpor md f fçã m TUG pues vnd c m d E SING MAR c id dhou ã qu pn n É pci im n SUR uvey f n, KETAb ál lizd v biliái, Ci AGOSTO m xclu Cnfi im m n p AUG n n cn çã iv fgu b c, duçã cd il Im x UST d b ég dif n 03 nig i D uppl iliái índic uã u n d n éi b cv vnd b dic Núm icl f l gic mi pnn l fg ci E índic imbiliá c- mk m, c d c mp n c Índ Pl m i m mk quid k p mpn ic Ci m lh p u iv llig n pl P g Ci didb à dibilid vlizç ugl, c qu é mê Punid cportug dic bh l wi p i v Sb: duese m m m : gl ã c, m h HOUSIN cili MARKET hig uppl n gdg im SURVEY n G m B pn G zd O Ci/R h g óv 20 AGOSTO vn d h g d p nd O uln ICS Pug Cn dêi, AUGUST i n 02 Pu T Inx g phic duc x ug u Hu é im l Eu guê l l c Ag jun mk nd x g gum pu f n d cndiçõ n m n pp Pu Ci, which b i Mk lçm, u clu h bil mc gl Du pm civ cd Bv i l On Suizçã pcil v i S Ci cn cmp il vndpó é umb ibu m nqun mc u i m, pic cv Th Augu mdid quéi d b i c n InCi ndmn ll wi O In c Bnk h clíni ul highlig Rg dibili fd mn m Ab im, nnh iõ: n h iu pc mk h ii biliá N mc u: h l pil : P n i d nd u nid bil ug p fç O lik qucp cndi cmp d fllwg pic Th- l nl vnd, l l nu m nçõ cc mk d Eup pn x cl S/Ci ÁuM p iái C gul l c çã m whil lg P pp n bu -8 li liv gdup u Hu p -1 llug x mp In Im ugu n Cn, Inx unn ê g nv uçnlmn p l g u m n l biliáv cíci l cpug, p Gv iõ f õ cmp P M g g m fun v n d c u d c InCI, IP mk nmn Bnk, M Algv : Á çã (In n nd k Su v -13 p índic -1 ivid,nw CI, c nu bl O dd il li A mm IP laju ibu pnnd iáipd Abuimpv vlp çã l Rg bu ) é cnfç, qu ip +2 fm mp p nqui m, íul -8 mnhl n cilb InC d mk p i i ã wh nn mn é um mdid n pç (pg pn um, : hbilibl Th d impv i im hil, Mnw cmp zn O ul mc xpc fm n Iniu Thg ddiv m cmp n bil p gibd uldl cnfid nã liv ic lid:, giv pn i mu d c g x,which A um p iiv u m iv f did gul d C bd M ixu n cl -13 pêm jumvnd ), n n p cmp iz k c uçã nu u n- li vé pic nd up InCI uçã i +5 E n l, Quõ lcnç fm ég xpc çã z A nbili ã umn l -13, im nl +5 mlh cl md nlid, Op g d ic p bch qu ul cm f All l (h cd qué bil- M bv fll fild z Imb n i fi ib d dli civ m d p Cnu, 1 Núm wcç u : lnç m Sm n) d c g iliái cn uv w igh mp In li i lhid p luh n pa pç b umi b 2010 ãd ndd di d cic i d c n dg:nu S (In RELATÓRIOMENSAL MENSAL AGOSTO AGOSTO Sp c -pm d nd p c mb n p liv vnrelatório, Lb h m 2010cmp Hu um lcdj - cn mpu calg n c CI, IP) did 2 Núm pic ci, (g I hn/d fl iivm iz n AUGUST cnv iiv InC n Th Núm MONTHLY pç)? MONTHLY REPORT REPORT l wi vlic, n hl l n ivi I id Th ffc c v n: fllg úlim AUGUST iu m -22 ill, mlh 3 Ev c -22, lhull S/C n llp hiw i nu iv P ê m m ugv ul E fi, gh dju i d gulpic vn igh c ) u luçã Sb nd, wih gul p n nn h (cn Hu mp cuj vnd á d n ug bl b fç dâmic fc R p, d n im imp n n pp ç u l nd Onl Ldl gm g cp m ng n g cd p g k ii c u 4mc mn nd g Su ci um mp l p Qu cii ngi N mê v ngivmk iiv vi d mn m á n úlim c ix v qu vific 49 çãd gic? - Núm d Mi fild dnm nic hn kd: d há 0 mi w u h nd 1 wlv ii nn Sl ni, viçã mnh 20 wih u nd w l ui pnib6ê 12 Numb g iv ll m n ugh liz O mc Th R 01 5 u lg viw iliz? 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Ap d uc l R lndl pç b b p Sld 00dbugw 0,0 00 pcuc mnh vmn p c imbch ngnd? ivp m m ww p d c h nd p gó cin u d bl 6 m ê iliái m quil n hhwilb d uçõ p p l wi ildg n nhnw ul viçã nm wl Ov did ccid pbl v nd 79 p L l h 45 Augu núm c póxim 48,00 l duv n dug m l nh, 1,7 fw mnh n c c i? mi 0 mi 00 L b chng Sld L mp m m ll Ag, Sl cm ll nwp ê mw ix wlv n nh n hq mnid u vnd ul p cm ph 7 Ov wk dun ww Rp S mnhd? Nwblndhw nq did quéi M g mê M vcmp uii v gph d R c www b Mi ligimn m p lng Th lp n, fb mnh úlim Sldc A c PROi mn g llnn póxi- lwwn lv nwnx h qu Ex n m m: cm mi ium f 1,2 ng mnh nnw 8 Ov l chlndl um p iuiçã ã É n m um Rp p bc wh Th ng d uc bv n uc m hw 00 u m dic bndmn picu 12 cu h? N bl m ubi dexm = há 6i B p n- wwwll u ll C h m uç gm á ái, qu qud ( p v cn gd nx ui xpc p m uc p çã fll nl cl p dic 3 p n põ p l hu nh nd m mcil P - which p ppi cm qu vlu iii p lng hw (nã qu chng qud pçãadq pic d? hv nd - c gup cmbi uwih lng -qu guê uld cimnd cnu N vn pn m umun ub d N bl O dd qu uxp fnpúlim h fi xpc n, bl mnh vl c p úlim d c 5% ld n )fc fic n mê á quid íc qu d lg ilu décd Abf gvd ific cmbi ummu m mk fll i: ) ufu umi pi qu cn 25% cm, m b i p vc cm mudnn uu d pnhbl Mi O m vi ld, b cm B Th c d ãiv ugu i p xp nnhm =l Slpxpc ivll iliz B cp m uld ç fc P ium b n iv ê u p b jc d wn qud h lhm bcp p P P pí m p fuu, +100 nd nw pub ugu piiv p l í fmíl cv mnvi & S áv, n i n u v g gi iõ c mn ngbgfll ê d d g n ll ; nã Hj,l qu fll, givn uv iv p 5 c h lh p Um ld g M qu p N g i Al (if ni niu Bng licç pd h p n bl jn n A xpvi içõ ci, n ânic, bl éc 3 ã p d iv nic m d Ov d ficliv vi Cm pic h chng B p p will lb vnd cil g25% gdw m -100 Milln xclê nun un iiv m d l umn jn p Mn p impnm- ip m Pu piv h n nd culu ) lic qu ll unl b fw ê i niu g vz giõ bng bl d;ic n guê m g will Pu d ucc5% m d dimuiç p vi id dimqué ppiiv vi uiç i mp, n bl vç A piiv 21 cniu p gu nd h w õ m ngivpl ç n h qu (n ã, c fu implic õ u illu mn n nif f n blbng qu h vz ã, c ni pjc n l qu mi viávl ubjc d c mpê Mllm imp -100 i A um igul núm umn h cuci l g iu +10 pi liz h c, cm n up p l um ld pnn n) Um n im, um d B p h n mn bl B0 m imp n nnsb gd vi cm um liu P ( 21 m u n pn c l Pu hn i RI p nul ficm vifiqu -100 imp O cun guê pig lu und lnhcu & n CS l m um pnd n (u l i S g imp lic n nd M g nv vibl qu Sé vic Alân çõ n z N n pp dimuiç lic 5 c ), n qulif, w pn Th pnn ic,, c m p nd n ng c nã vific ), um õ f n ic Td cni bl iv liu n f, çã p c n m g ld hn nu g nã n dim f+10 imp -100 icl x c, Ric nã w u Td uiçõ i 0 implí vi fuu g i v p unl Guim dg i n qu, b nívlf p llic qu gv çã l n, Dic d cã d l mund impl nd c n,(u Nu mçõ lu ivm dci: pd n ( Mi D c iv mu n pn b ) ll il d mi pg h chng n n á n cm cm ninqu n,iz quii gn ), nd n pn nnium b xclc ç um çõliu m qu PHM i n cç p ub, - cd Ab c, p n +100 mã nd, pi Szfim +10cd b ug c c pç (vz u m m n p lng c pi S dg imp ( Spkmn umpu b dd cm CI v nm 1 um qu áip S/C S é n, m n umn n ch, Ric Cndiçõ Cndiçõ mc cmp cmp vnd vnd bilizm; bilizm; ê l h i pic Um cm z m nid m pd bilg; cndi S g qu mc úlim, mc Guim duz l ng) w p p n d g up m msl ci Sl mk cndi mk ãbl Acc p pç m - : dg l b fiç fbilg; fi m, 1 nh cçãcnu p pmpn +30 S/Cld xig gn xpiv vz d 1 cn i l, dg, n h bui nl % p c)il m In, pic ci dimui hcimm +10 nn dg ivid c umh cc n 1 Rgiõ bngid pl quéi cm xpciv Rgiõ bngid pl quéi cm xpciv, mn éi m d á m, wh g quh umn ndm n c çõ A c pp h 3 n pic d ch ld wh imn im % hund l di +60 p é n uni lif dcbi, ng bnd Ngiv xpc l wpd; Ngiv xpc l wpd; nãlid uhd g cil biliá b nd nk ic pic uld bl p fm ign c qu ph d i pic piiv; lnv i p3 plíic pi pic ím liv vlum liv m vlum piiv; b nd i qu iliái +30h d, já im ific fi m(v cidqu M b whn m nqui pn v p cmm D vz um dim vi v p - m n +60 i nl-n i di dl nd pâ n mb6 d i c c bpliic cn i cm mm áv np p quii n lhmcivi p 1000 m mmb ixpc il g g h Lg civi wk nd n cnu fll Lg h nd n cnu fll l bili i - ím Hw f d c p nd m fm, uiçã liv u nl nm p n v, 00wk l n Jh Mill wic bi wuld i n g nu u Aivid n ndmn ndmn cl Aivid n nh u f vi m cl 6 nl pi m izh d u, mup )c gu Ecn Ov l upp l, d n d m p O um nd ip m n c ivid vi v g um fic n c ign p Séni 10 bl g v u nx nw p d S: d pi u v m n u Lik h ific qu um 0 O ul cn S é um nmwn nizd m í nd g c, bix mp pp nd id, um blh 00 um m i n-if w n 0p xm cnfi vd qué umn ni g hic bu k pp Sni m guls S, i, +90 d n g d n n ill p, mnç l qudim viu pu f Ag l m, mn Ecn dêçã %pp p i, p cum bi p Th dd Mill d n- h i mi uiçõ i um g p n l, nv pid dõ+5% md m n m p g lizçã n liu d mcjh gg, d b b,pp, p c gniz g Augu : p cm nl cídmc - S f, ávviu uv p picug -9 dnív p mfll dm p v c l nd g n d lmn w c n i ul fm cmp ll, bu mi Th l, mi () Hug ic n OOS/Ci S/CiPugu Pugu Hug Mk Mk Suv Suv () () f f um um ThS/Ci S/Ci Pugu Hug Hug Mk Suv Suv () pv mp m vid ng mnd pvid n -lh m n Pugu +90ki cli m mpv ng dm liud lm mu ul mmk p, p fu n; nlvnd n nbili p -5% ivid ic ndil ill bdh nn p mb im nv v bm h umn u mb cnfi chqu c +5, i ll n ; m mk mj nç c ng l nd vliçã vliçã quliiv quliiv mnl mnl c c cn cmp cmp vnd vnd, -um quliiv quliiv mnhl mnhl mn mn l l nd lg lg c c pn, um i nw h ign Ev, civi pic p cíd w hil n h nd ull n S nd p i qu cn lific qu, d hif ld cu d cnfid O m p dmic g cc, mc c d mp hn fim wih p nfim g mi Bg pnd fu pn cn liud S v m hv ndmn ndmncm cmb b m m cc cc p p quéi quéi bd bd n n und und gul gul pn Th cn cn c n ul ig imbil uá, fm ll, bu pth flln dm n bld dim cn iái nd vid pc ui m nw g g, b S h Índic g d çõ m hck n fm dim cn pvid b icll p uiçõ m u di u h -90 dh OO cném um umpiçã piçãgl glqu qun cb cb Lb, Lb, gl bkwn bkwvg Lbn, Lbn, P P nd nd Algv Algv ump vz c gw, Ac likl chã bi P gl pd -5 h di cném ng hv cvg hu S/ fund fl fgc O Índic ivid mk p S h Ci hn S/Ci Índ Algv Algv pl ng un hig i c w Th Acivi Ind ll liv Acivid d cli hldwi x nd S/Ci ic Cn à cnul n h n f S/ Ci é um p cl Enquii S/ Ci Acivi wk SbOÍndi c gu médi ç S/C Cnfi n MERCADO MERCADO ARRENDAMENTO ARRENDAMENTO MERCADO MERCADO Pu COMPRA COMPRA EEf VENDA VENDA Cn Inx i: f Hu, à Pugu Hug Mk Suv Sl Sl mk mk bgng bgng bil bil Mc Mc cmp cmp vnd vnd pgu pgu bilizçã bilizçã n SALES SALES MARKET MARKET O Pug u à ld P bl md, g LEASE LEASEMARKET n v içõ S/Ci Mk MARKET xpng g Inx: Amb Hui é um Suv à vn p c Vn Th Sl n blnw Mk iv mé m- d p Suv SALDO %%SALDO SALDO di In O ucn S/ Ci (PHM %%SALDO Nw uc bjc S) p vnd Exp fçiv é ld Cn %%BALANCE BALANCE OF OF SURVEYORS %BALANCE BALANCE OF OFSURVEYORS SURVEYORSi % qué SURVEYORS n bl Bu ém p i mn n pçum B c n fi Ind i n cv í c mc l liz nd mdid h il pug x bl m di pci n 6 ic b uê um 6 n v c ín d ci i nd c - Cnfid Picil giõ m Cd g E quéi vid Índic Cnfi ExpcImbil cn nç fi pl 4 nd umm n d iái S Sl 4 Lb, P nu pí pl mp Expciv n bl, pn m chnd u cul, pl qu gá Algv O pm çã mdiçã m lcun ul cmp n pl civimbiliái k áv lm cb cm u qué -3-3 lmn i qu S liz Abu Pugu -5-5 Hug Mk Th Pugu Hui Suv ng Mk Suv (Ci) nd Rl () -7-7 Iniu mnhl nim Chd Suv l n -8-8 uv -8-8 mk Th (S) vlpd 2012 PMHS gn2011 dicl cmp pnhip b S SOONNDDJ J F FMMA AMMJ J J J A AS SOONNDDJ J F FMMA AMMJ J J J Abl AS SOONNwih DDJ J F FMMA AMMJ J J J A A OO Nnd N DD vl J J F F MM A A MM J J J J A A S S OO NN DD Cnfid J J F F MM A A MM J J J J A A il S UK Hui p Imbiliái wh ng Mk Suv Pcu Pcu d d fmíl fmíl Tnn Tnn mnd mnp Inuçõ Inuçõ ppiái ppiái Lndfd Lndfd uc uc Blnç Blnç Pç Pç Pic Pic Bl Bl Pug Índic Cnfç Cnfi Inx Blnç d Vnd Sl Bl Índic Cnfç Cnfi Inx Blnç d Vnd Sl Bl Expciv vlum Vlum xpc Expciv nd Rn xpcu Rnd Rn Expciv vlum Vlum xpc Expciv nd Rn xpc Rnd Rn i nil ç ng Fn Fn / Suc: / Suc: Ci/S Ci/S Hug Hug Mk Mk Suv Suv Api Api Fn Fn / Suc: / Suc: Ci/S Ci/S Hug Hug Mk Mk Suv Suv 04

3 Pugu Hug Mk Suv SETEBMRO 2014 SEPTEMBER Em m ivid, quéi Smb c cupçã cnínu n mc cmp vnd p cm ccimn livmn ávl c ndmn Cnu, m mb gmn umn ivid nã duz d n pç mc, qu êm pnn m u mn áv n mc cmp vnd m qud n mc ndmn O l p liv pç mnv- l m -3, dicn qu pç pnm m u mn áv Cnu, há um difn vluçõ n pm mdi, cm pimi pnm um cupçã pç gun um cid (l p +9 n pimi -9 n gun) O índic cnfç - um mdid cmp d xpciv vnd pç pu +23 p +9 P qud ul, pvvlmn, f umn 10 pn vific n mê ni Cnu, p d qub v fli mbém nfqucimn d ppciv cnómic n Zn Eu Ad im, índic pmu m iói piiv N c ndmn, pcu p p ndái ubiu, nqun uçõ p p ppiái cím mb fm bn cnud cln im qud d nd Ap nd pnm qub íci quéi m 2011, ã g ci im m ln lgum vz g A qud cnínu d nd v-, m p, um xc ck n mc ndmn, qu p u vz ul um n n ip c m ip c pcud A nívl gl, l- ubid d pcu n giõ Lb Algv N P, c- cmpmn d nd, qu cni ci In m civi, Spmb uv highligh ngg cv l mk civi lngi livl bl gwh nd lg c Hwv, bh mk gmn g civi h fd hugh vlu nd pic, which m l fl l mk nd fllg nl mk Th hdl pic bl w uhngd -3, dicg m l bl pic Ingl hwv, vlp f m picg pw hn gn; pic bl f fm +9, wh i -9 f l Th hdl cnfi x - which cmpi mu m up l nd pic xpc - fll hpl, fm P h fll likl pbck fm pviu mnh hp 10 p Hwv, p fll likl flc wk cnmic ppc Euzn Ovll, hwv, x m piiv i In lg c, nn mnd nd nw lndld uc fll - bh fil hpl - lwg pc cl n Whil n hv bn fllg i uv bgn 2011, fllg i lw pc d Th cnud fll n p wn n vhng nl ck n mk nd p h bcu mmch bwn p nd ck vilbl nd p mnd A gl lvl, i nwh h n ill fllg qui hpl P Ric Guimã, Dic d Ci: A pcu á umn Vái gn mm qu, m p, l á lc cm nd pqun vi n mc imbiliái, vi c vimn nu cl iv mbém cm um fm pcçã fc pblm n b cm c cnmn Jh Mill, Ecnm Séni S: A ivid n mc cmp vnd á cup pç d c ã biliz Pém, p nqun, d nã m f pig A qud índic cnfç vificd mê lmb-n qu mc puguê cnu vulnávl à fgilid d cnmi d Zn Eu cm um CI Spkmn, Ric Guimã: Dmnd ig Svl gn mn h pl ld mll v ng l mk du k cl nd l fm pc fm bnk vn lik n h hv cnl ccud S Sni Ecnm, Jh Mill, : Acivi l mk cvg nd hu pic bilg Hwv, w n u wd ju Th dp cnfi h mnh md u h Pugu mk m vulnbl nwd cnmic wkn Euzn whl Sb Pugu Hug Mk Suv O Pugu Hug Mk Suv () é um quéi mnl liz m pci n Ci - Cnfiil Imbiliái S O u bjciv é mc iil puguê um Índic Cnfç Expciv, phn cul lcun n cv íic b c E quéi n pl mp pmçã mdiçã imbiliái cb giõ mpl Lb, P Algv O n pllm cm u quéi qu S liz nu pí, pl qu gá ul cmpáv lmn Abu Pugu Hug Mk Suv Th Pugu Hug Mk Suv () mnhl nimn uv - vlpd pnhip b Cnfiil Imbiliái (Ci) nd Rl Iniu Chd Suv (S) - gn nd vlp wh p Pugu il l mk Th PMHS dicl cmpbl wih S UK Hug Mk Suv

4 Pugu Hug Mk Suv SETEBMRO 2014 SEPTEMBER N/Ci N f di Núm l mp n pl: Sb: O Ci/S Pugu Hug Mk Suv é um quéi mnl nimn jun pm mdi imbiliái qu pm n mc iil Rgiõ: O l l c ê giõ: Á Mpl Lb, Á Mpl P Algv O d ã pn glmn m funçã ip p (pm u mdi) Ajumn znlid: O d nã êm jumn znlid Quõ clcd: 1 Núm c vndid n úlim ê m (cn- -pm)? - Núm 2 Núm c cuj vnd á m ngciçã? - Núm 3 Evluçã pç ii n úlim ê m? Sl Rp 4 N mê ni, viçã núm vnd m ng ciçã? Sl Rp 5 N úlim mê, vluçã núm cnul p nv cl? Sl Rp 6 N úlim mê, vluçã núm nv ngiçõ? Sl Rp 7 Expciv viçã pç d c n póxim ê m? Sl Rp 8 Expciv viçã núm vnd c n póxim ê m? Sl Rp Sl Rp Exm: Sl Rp Exm = ppçã qui qu pm um ubid mn ppçã dqul qu pm um qud ( 3 pm um ubid 5% um qud l p (nã pn) á 25%) O d l p ã b m piõ; nã qunificm mudnç fciv viávl qu lh j cid O ul l p pm vi n Um l p piiv implic qu m pnn ã vific umn m vz dimuiçõ (n viávl ubjcn) Um l p ngiv implic qu m pnn vificm dimuiçõ m vz umn um l p nul implic qu um igul núm pnn vifiqu umn dimuiçõ Aim, um liu -100 implic qu pnn nã vificm umn (u lçõ), um liu +100 implic qu pnn nã vificm dimuiçõ (u lçõ) N c l p luiv pç, um liu +10 nã v pd cm fim qu pç d c á ubi n m 1, m qu m 1 qui pm umn pç m vz dimuiçõ ( lng ê úlim m) Um lçã +3 p +6 nã ignific qu viávl nh cci m 3 pí m 6 n pí gu, m l dic qu b qui pu um umn m vz um dimuiçã livmn pí ni D mm fm, f vificd um bix +9 p +5%, l cnu ignific qu xm, m gl, m pnn p umn qu dimuiçõ, p d mpliu umn p cí dmicmn; nn, um lçã n liu -9 p -5% cnu ignific qu, fm gl, m pnn nm p dimuiçõ m vz umn, p d mpliu dimuiçõ pd cí dmicmn Índic Acivid S/Ci Índic Cnfç S/Ci: O Índic Acivid S/Ci é um médi l p liv à cnul p cl, à ngiçõ à vnd pi O Índic Cnfç S/Ci é um médi l p fn à xpciv vnd pç Amb m- pn mdid ín d civid d cnfç mc Tl b uv cnibu: Abu: Th S/Ci Pugu Hug Mk Suv mnhl nimn uv gn nd vlp wh p Pugu il l mk Rg: Th g mk up nl (hdl) dg: Lbn Mpl A, Op Mpl A nd Algv Th d gll wighd nd p (gn/vlp) wighd Snl djumn: Th S/Ci Pugu Hug Mk Suv d n nll djud Qu kd: 1 Numb l v l h mnh? - Numb 2 Numb b pmd l? Numb 3 Hw hv hu pic hv chngd v l h mnh? N bl 4 Ov l mnh hw did b pmd l chngd? N bl 5 Ov l mnh hw did b nw nqui chngd? N bl 6 Ov l mnh hw did b nw uc chngd? N bl 7 Ov nx h mnh hw u xpc hu pic lvl chng? N bl 8 Ov nx h mnh hw u xpc b gd l chng? N bl N bl d: N bl = Pp uv pg pic mu h pg fll (if 3 pd nd 5% pd fll, n bl will b 25%) N bl d p bd; i n qunif cul chng n unlg vibl N bl d cn ng fm A piiv n bl impl h m pnn g i hn c ( unlg vibl), ngiv n bl impl h m pnn g c hn i nd z n bl impl n qul b pnn g i nd c Thf, -100 dg impl h n pnn g i ( n chng), nd +100 dg impl h n pnn g c ( n chng) In c S/Ci pic bl, dg +10 huld n b pd S/Ci g h hu pic gg up b 1, bu h 1 m uv pd i hn c pic (v l h mnh) A chng fm n mn h vibl gw b 3 n pid nd b 6 nx pid, bu i dic h wic mn uv pd n i cmpd c hn pviu pid Likw, if w g dg dppg fm , h ill mn h m pnn pg i hn c vll, bu bdh h pg i h flln dmicll; mnwhil, hif dg fm ill mn h m pnn pg c hn i vll, bu bdh h pg c h flln dmicll S/ Ci Acivi Inx nd S/ Ci Cnfi Inx: Th S/ Ci Acivi Inx n vg Nw Bu Enqui n bl, Nw Vn Inuc n bl nd Pmd Sl n bl Th S/ Ci Cnfi Inx n vg Sl Expc n bl nd Pic Expc n bl Bh dic nd umm mu mk civi nd cnfi

5 Pugu Hug Mk Suv SETEBMRO 2014 SEPTEMBER Acc d Ci A Ci - Cnfiil Imbiliái é um mp pnn, d p fçã d id fmçã p mc imbiliái, n cnx d md cã qun vimn ég vnd É pcilizd n pduçã difuã dic nál mc, n índic b d xcluiv b vnd fg, cm lh à fgui D u cv c- Índic Ci qu é m nig éi b imbiliái m Pugl, cm m 20 n E índic m vlizçã imóv ii Pl u cdibilid pndêi, é fi p nid cm B Cnl Eupu, B Pugl Gvn Puguê Abu Ci Cnfiil Imbiliái n pnn cmpn dicd uppl l mk pl wih icl fm quid i vmn nd gic c mkg Ci pcilizd pducg mk llig dic, g x nd xcluiv db gdg hug mk h cv bh uppl nd nc ppciv, picll wih high ggphicl il On i m cnn Inx Ci, which m fd hu pic x Pugl Du i cdibili nd pn, Inx Ci ud b ni lik Eupn Cnl Bnk, Bnk Pugl nd Pugu Gvnmn Sb InCi O Iniu d Cnuçã Imbiliái (InCI, IP) é nid gul c d cnuçã imbiliái Cmp InCI, IP, ibui íul hbil p xcíci d civid p i guld A u cuçã v d pi um mc d cnuçã imbiliái mn cmpiiv, vé um fciv cçã gul fcliz, bm cm pi dmiz iciiv égic p mlhi d cmpiivid unbilid d mp c, n m v f cnumi Abu InCi Th Iniu d Cnuçã Imbiliái (InCI, IP) gul l nd cnuc civi I InCI l ibu licn p fild pcic h fll wih i gul cp In ddi, InCI h l ugg mn nd cmpiiv cnuc nd l du hugh ffciv gul nd upv wll uppg nd ugg gic iiiv imd impvg cmpiivn nd ubili cmpn fild wih viw b pcg public lg Sb Ldl Onl Mi 2001, LcLcm g cc 490 mil uiliz 7,9 milhõ pág p mê, dpnibilizn p cnul 450 mil imóv, 1700 mpndimn 4,5 milhõ fgf, gn m m pd vi fmçã b imóv, gn cnn punid ngóci p m 1200 mp c imbiliái pn n pl M fmçõ m wwwlclcm www PROicmp Abu Ldl Onl i M 2001, bu 490,000 u nd 79 mill pg chd p mnh n LcLcm M hn 450,000 buildg nd 1,700 pp vlpmn vilbl wih 45 mill phgph, gng m hn 48,000 qu v mnh f 1,200 l cmpn M fm n wwwlclcm nd wwwproicmp Sb Millnnium bcp A cniuiçã B Cmcil Puguê fi íci um pcu uc ccimn, qu hvi d igm mi gup fi piv puguê A lng d úlim décd, pjc ub gg vn mui cpiliz pígi iuiçõ ã ilu cm B Puguê Alânic, B Mll B P & S M, n hj pn m 21 pí, n 5 cnn Hj, licç culu vçã, cmpêi écnic xclêi viç, cni, cm mc Millnnium pp fuu Abu Millnnium bcp Th blhmn B Cmcil Puguê w bgng h gwh nd ucc h h givn lg piv Pugu fil gup Ov p fw c, h pjc h mngd uni will mn nd cpiliz n pig iu illuiu B Puguê Alânic, B Mll nd B P & S M Td w pn 21 cun 5 cnn Td, bd n u culu nv, chnicl xp nd xclln vic, w cnu, un Millnnium bnd, pp f fuu Sb S O S é qulificçã lí nívl mundil n qu pi nm p livmn, ppid cnuçã Num mun m qu cd vz m p, gvn, gnizçõ bá cmci xigm um mi cz cc nm p éic, gi u S é mc cnhcimn plm m m d civid imbiliái M p d á imbiliái qu blhm n piip cnm blcid mgn mun cnhcm já impâi gu u S, nn- mmb O S é um gul n u mmb dividu cm mp, pmi-lh mn m lv pdõ fn b p um cnfç impávl cl n c O S pui um nívl mundil Abu S S wld ldg qulific whn i cm pl ndd lnd, pp nd cnuc In wld wh m nd m ppl, gvnmn, bnk nd cmmcil gniz mnd g c pl ndd nd hic, g S u cgnizd mk pp plm Ov pp pl wkg mj blhd nd mgg cnm wld hv ld cgnizd imp cug S u b bcmg mmb S gul bh i dividul mmb nd fim nblg i m high ndd nd pvidg b f unpllld cl cnfi c S h wldwi nwk

6 Pugu Hug Mk Suv SETEBMRO 2014 SEPTEMBER Pl Inqui Cnibui il Abl Silv Nln Pláci, Ld wwwnlnplcip Adlb Ml imbiml wwwimbimlcm Afn Hniqu Rnbiliz, Ld wwwnbilizcm Alic Bg Fáim Vii & Alic Bg wwwfimbiliip An Mch Imxpnã, Ld wwwimxpnp An Pul Gnçlv PAULA IMOBILIÁRIA wwwpulimbiliip Anbl Fl Fm, Ld wwwfmp Anni Albuququ O Fil f@filcm wwwfilcm Anóni Cvlhi Mhu cvlhi@mhup wwwmhup Anóni Azv Cuh Anóni Azv Cuh Ld c@zvcuhp wwwzcup Anóni Mcl Mcl Ppid f@mclppcm wwwmclppidcm Anóni Ribi Fi Pdiu, SMIU Ld pdiu@pdiup wwwpdiup Au B Au B - Mdiçã Imbi ub67@gmilcm BNv Oói Eupdil nvi@updilcm wwwupdilcm Blã P Mdiçã Imbil Rmx @mxp wwwmxp/1000 B Hvé M Picnç B Picnç- MdImb, Ld gl@bpicp wwwbpicp Bun M Bl Club Cmp bunm@plnblp wwwblclubcmpp Cl Cl G Imbiliái, Ld g@gimbiliicm wwwgimbiliicm Cl Figui Mximu, Ld cfigui@mxp wwwmxp/p D Alv Dilv gl@dilvcm wwwdilvcm D Gnçlv Whi Pp SMI Ld Imbilii@whippp wwwwhippp Dmg Ci Juiqud mgjuiqud@gmilcm wwwpugl-vimncm Dmg Ci Juiqud mgjuiqud@gmilcm wwwpugl-vimncm Edu Ségi Cximóvl, ld ducx@p wwwp/cx Fáim Cvlh Pnnlié Imbiliái gl@pnnliimbilii wwwpnnliimbiliicm Fim Figui Cni Alnic cnilnic@pp pp-vill-puglu Fnn Silv Rig Imbiliái fnnilv@igp wwwigp Fc B Su Jpdi, Ld fcu@jpdip wwwjpdip Fc Mn Só N Cmp, Ld fmn@mpp www-gupcm3 Fc Mxi Alv FSlui, SA fcmxi@fluicm wwwfluicm Hl Silv Jã Silv - Md Imb Ld jilv@imguicm wwwjilv-imbiliicm Hl Anun Rimgic Lux Ld imgiclux@gmilcm wwwimgicluxcm Hniqu Rch Ri Pp hniquch@ippp wwwippp Hug Mi Gln Algv hmi@glnlgvcm wwwglnlgvcm Humb Rdu REILAR gi@ilp wwwilp Humb Rdu REILAR gi@ilp wwwilp Idléci S Idléci S, Ld idlci@pp wwwidlci-p Jck Rbl mkg ld mkg@millpcp Jã C Imk jc@imkcm wwwimkcm Jg Mh AjMh - Imbilii gl@jmhp wwwjmhp Jg Póp Sn Gup INS jgfpp@lbp wwwp Jé Mnul Clh Fnágu, Ld jclhcnf@gmilcm wwwfnágup Jé Pix REMAX Bg bg@mxp wwwmxp/bg LIl M R Mágic - Md Im Unip, L pii2@mxp wwwmxp/pii2 Luí Azv Mdpc cmcil@mdpcp wwwmdpcp Lu Mi Nun R CmpC lunun@cmpcp wwwcmpcp Lu M lmmi, ld gl@lmmip wwwlmmip Mnul Pi c n ld gl@cncm wwwcncm Mc Cvlh HmF Imbiliái cmcil@hmfp wwwhmfp M Andé Gup ABBIS mnd@gupbbcm wwwbbp

7 Pugu Hug Mk Suv SETEBMRO 2014 SEPTEMBER Pl Inqui Cnibui il M Andé Gup ABBIS mnd@gupbbcm www,bbp M Figui M Figui mfpfigui@gmilcm w Mh Bic Mgmb, Ld mgmb@mgmbcmp wwwmgmbcmp M Ilfn RE/MAX Tvi - Mxlj milfn@mxp wwwmxp/vi Migul Sã Dmu Scllb, Ld mucllb@gmilcm Migul Sã Dmu Scllb, Ld mucllb@gmilcm Nídi Figui Dilpg gl@dilpgp wwwdilpgp Némi Ináci Mdili, Ld gl@mdilip wwwmdilip Nun Cmp ROTAPLUS - Md Imbiliái,Ld p@plup wwwplup Nun Filip Sn Hll Nunn@hllp Hllp Nun Vidl IMOVIDAL nunvidl@imvidlp wwwimvidlp Pici Bi Gvu Sc Md Imb SA mkg@gvup wwwgvup Pick Ln BAZIN Pugl pickln@bz-pugl wwwbz-puglp Pul Pi Epç Zn, SMI pulpi@pcznp wwwpcznp Pul P Rmx Mh pbp@mxp wwwmxp/mh Pd Gbil Gld Tm pdgbil@gld-mp wwwgld-mp Pd Ph NOVIMED pph@nvimdp wwwnvimdp Ric Cliç E Vilmu/Qui clicvilmu@p wwwp/vilmu Ric Qum Oh AUC qum@huccm Rui Alv Pdipóv - Sc Md Imb im@pdipvcm wwwpdipvcm Rui Cnn Mdgóci, Ld uicnn@mdgcic wwwmdgcicm Rui Filip Ln, Mdiçã Imbiliái Ld uifilip@nglvlkcm wwwnglvlkcm/lb Rui M ERA Cc mcc@p wwwp/cc Rui Pi d Silv Cbu p@cbup wwwcbup Sgi Cx CENTURY21 P Alnj plnj@cnu21p cnu21p/plnj Sgi Cx CENTURY21 P Alnj plnj@cnu21p cnu21p/plnj Ségi Cx P Alnj Ld plnj@cnu21p cnu21p/plnj Tig Guvi Fullhu guvi@mxp wwwmxp/m Vlm Sn vldn imbiliái vn@vldnimbiliip wwwvldnimbiliip Vc Mnç Cnl Lbn vcm@cnllbnp wwwcngllbnp Vic d C hculn & Vi SMI Ld gi@cmpcp wwwcmpcp/l&f Vi Md hbiu hbiu@gmilcm wwwhbiup P m fmçõ pf cnc F fu fm pl cnc Cnfiil Imbiliái Ric Guimã guim@cnfiilimbiliicm Tl: S P Offic (Pugl) Gb Impn S Eulli Pn pn@icg Tl: S Jh Mill jhumill@icg Tl:+44 (0)