Portuguese Housing Market Survey

Transcrição

1 Pugu Hug Mk Suv Rlói n p Mnl OUTUBRO 2014 mnhl Rp OCTOBER 2014 Gwh gd l nu pic hld bl Ccimn d vnd gu bilizçã pç Vlum vnd b; Pç bilizm nívl l; Expiv cni pn p cupçã Sl vlum ; Pic bl nl lvl; Expc p ngg cv 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 OUT 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 O 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 in 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? Sld, L 2 núm upp mk im Nnd l v b bil Numb úlimmnp h mn n p c 7,9 mi m im bnfi i d im g bnfi p d qud bv mê, vnd f ciu dun cn 3 L l?d lhõmk l c v d m p Hw 4,5 ul fm b luçã m h lgum, c m hv Sld mpng v fllu 450 hu n mc c núm p mnh g hld wh 6 N milhõ g qu fmíli ciçã? mil im pá g pu mpn g imóv m hu Abculd pd m? - Num úlim R d cc p pic? n l nh um impd cc vnd cmp p n mê blic cn, um Ldl mê, nvz48000 fg 4 óv? mg, vluçã R id Ndbl g b, 17 On Hw Numb Ov ndmn ign lg pdidh lg f ch fimn mulg v, l hv p p c nv 00 ll mp, d 7 Exp - c cli Pém ngdhv bn,ch gcivi núm p p, ulim pg i M m m civ n l v mn n 00 m nnnwi bnh vi ng nvlm m12pl nbndmn unn 20 hwg u hn p 5 di fd?d m p d mivid viçãêm- vific l h i 01, b PROi ng h did Ov fum uniddg bl mçã fcn ch m n úlim çõçõ h cm n 450,0 u 49 d 8 Exp? Sld d p nn? 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 ificm ummu m mk fll i: ) ufu umi pi qu cn 25% cm, m b i cmbi p vc cm mudnn uu d pnhbl Mi 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 O iv ê u n p b jc d wn qud h lhm bcp p P P pí m p fuu, +100 nd nw ugu piiv p ub l ígi p fmíl cv mnvi & S áv, n i n u v g 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 h n nd culu ) lic qu ll unl b fw ê i niu mi vz g giõ bng bl d;i piv n guê m iug will Pu d ucc5% m 21 dimuiç p vi id dimqué ppiiv d cn p uiçõ, n bl m c p gu nd h w õ m ngivpl n viç, c vçãa piiv n i(n viá h qu n n imp nif f qu um h vz ng fm ã nu, c pjc blb vl ub fuu n l d c mpê Mll illu imp igul núm umn lic qu m mi -100 h cuci l g iu +10 pi liz h c Aim, pnd jcn) Um um, cm p n up p l n d B h n mn bl B0 um n vi l m imp n nnsb gd 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 pn n nd M g nv vibl qu Sé vic Alân çõ), n p z dimuiç lic 5 c ), n qulif, w pn ic, N c n nã vi, c m p nd Thf n p n ng õ f n ic Td cni bl iv liu n ld ficm dim um çã p c n, g hn nu g nã n 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 b nd i qu iliái vz +30h d, já im ific fi m(v cidqu M b whn m piiv; nqui pn v p cmm vi v p um - m n +60 i nl-n i di dl nd D m pâ n mb6 d i c c bpliic cn i cm áv np p quii n lhmcivi p 1000 m fm dimuiçã l 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 u nl nm p n v, 00wk l n Jh Mill wic bi wuld,ndmn ivcl i n g nu u Aivid n ndmn cl Aivid n nh u f vi m 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, P P nd nd Algv Algv ump vz c gw, Ac likl chã bi P gl pd -5 h di cném ng hv cvglbn, hu S/ fgc O Índic ivid mk p S h Ci Ac fund fl hn S/Ci Índ Algv Algv pl ng un hig i c w ll liv Acivid d cli hth ivi Inx nd ldwi 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 SALDO di In O ucn (PHM Nw uc bjc S) p vnd Expc S/ Ci Cnfi fçiv é ld %%BALANCE BALANCE OF OF SURVEYORS %BALANCE BALANCE OF OFSURVEYORS SURVEYORSi % qué SURVEYORS n bl Bu ém p i mn n pçum Ind i n cv í c mc l liz nd B mdid h il pug x bl m di pcn 6 ic b uê um 6 i n 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 OUTUBRO 2014 OCTOBER O ul Ouub 2014 mm qu ivid n mc cmp vnd cnu umn, qu á fli cnlidçã d bilizçã pç N ndmn, um umn un d pcu p p ndái, cnjug cm um qud d uçõ p p ppiái, bnu (m nã mpu) im qud d nd Cmçn cm cmp vnd, nv uçõ cmp cnum cc m Ouub, mcn décim qu mê cncuiv ccimn d pcu Rfimn cécim cniávl d nçõ n úlim mê, vnd cdd umnm im m ápi qu quéi fi lnç m 2010 A mlhi d ivid pc biliz pç d c nívl l, qu êm mni picmn l m cd um úlim ê m Dqui p fn, quii ncipm qu ndêi bilizçã pç mnnh n cu pz Enn, p- qu vlum vnd cnu umn n úlim pí n Cm ul, índic l cnfç ubiu p +14 (gu ul +9 lcnç m Smb), iun- im m iói piiv há 11 m cncuiv Rlv- qu nívl cnfç bv nã é cnn m d ê giõ bngid pl quéi Em pcil n P, n pnn ncipm um vluçã ngiv n pç, nqun vnd ppm p mn um vluçã ln N ndmn, pcu p p ndái cnuu ubi (d qu fm m), nqun nv uçõ p p ppiái cím d m A nd pmm, cnu, m cécim, mb im m ln mp Ep- qu cni ci ligimn lng póxim ê m, m m gn p ndêi ngiv vu- Th Ocb 2014 ul hw l civi cnu, which filg hugh m bl pic ulk In lg c, ud pick up nn mnd, cupld wih dip nw lndld uc, h lwd (bu n hld) pc which n fllg Sg wih l mk, nw bu nqui cnud Ocb, mkg fifnh cncuiv mnh mnd gwh Significnl, ffimg l mnh izbl gwh nc, gd l id quick pc i uv luh bck 2010 Th impvmn civi pp hv bild u pic nl lvl, which hv nw md bdl uhngd ch p h mnh Gg fwd, cnibu nicipg h fl pic nd cnu n m Mnwhil, l xpcd p fu g v m A ul, nl cnfi x dgd up +14 (fllwg +9 Spmb) nd h nw bn piiv i f lvn mnh w I huld b highlighd h cnfi wd ulk n cnn c ll g Ind, pic nicipd fll fu P, whil n m l lk m luggh In lg c, nn mnd cnu (lbi ml) whil nw lndld uc fll bck fu Rn, hwv, m cl lhugh lw pc n cd Lkg hd, n xpcd fll lighl v nx h mnh bu ngiv nd h lgl dimhd Ric Guimã, Dic d Ci: O nimn ul mc pn lgmn p um bilizçã, m bvm- lgum difnç m m g, cm cnfç pn- m lvd m Lb qu n P n Algv O b ã v cm um f chv p pil xpnã d cupçã mc p pí Jh Mill, Ecnm Séni S: A mlhi cnínu d ivid mc cmp vnd pc gnh um mi xpã cnmn, nqun pç cmçm g pm m u mn áv Ap l cni cm um vnç piiv, um pí un ccimn cnómic um f ciçã mpg ã i p qu uj um cmpl cupçã mc imbiliái CI Spkmn, Ric Guimã: Cun mk nimn lgl p bil, bu m vi gl lvl, wih cnfi high Lbn hn P nd Algv Th bnk n k fc pnill xndg mk cv c cun S Sni Ecnm, Jh Mill, : Th ngg impvmn l mk civi pp hv gd dd mmnum cnl, whil pic hv nw md m l bl f p fw mnh Alhugh h cm piiv vlpmn, ud pid cnmic gwh nd ng jb c will b nil if gnu cv hug mk mg 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 OUTUBRO 2014 OCTOBER 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 quii 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 quii 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 quii 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 OUTUBRO 2014 OCTOBER 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 pdi 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 OUTUBRO 2014 OCTOBER Pl Inquii Cnibui il Abl Silv Imbiliái Nln Pláci, Ld wwwnlnplcip Adlb Ml Imbiml wwwimbimlcm Afn Hniqu Rnbiliz, Ld wwwnbilizcm Alic Bg Fáim Vii & Alic Bg wwwfimbiliip2 An Fnc PcilG wwwpcilgp An Mch Imxpnã, Ld wwwimxpnp Anbl D C Anbl C Individul nbldc@gmilcm nblcimbilii Anbl Fl Fm, Ld nblfl@fmp wwwfmp Anni Albuququ O Fil f@filcm wwwfilcm Anóni Azv cuh Anóni Azv Cuh, mi, c@zvcuhp wwwzcup Anóni Mcl Mcl Ppid f@mclppcm wwwmclppidcm Anni Ribi Fi Pdiu SMIULd pdiu@pdiup wwwpdiup Au B Au B ub67@gmilcm B Hvé M Picnç B Picnç- MdImUnip Ld gl@bpicp wwwbpicp Bun M Bl Club Cmp bunm@plnblp wwwblclubcmpp Bun M B Plc bunm@bplcp wwwbplcp Cl Sn G Imbiliái, Ld g@gimbiliicm wwwgimbiliicm D Alv Dilv Hu gl@dilvcm wwwdilvcm D Glv Whi Pp Smi Ld imbilii@whippp wwwwhippp Dmg Ci Juiqud mgjuiqud@gmilcm wwwpugl-vimncm D Cé M S N Rncimóvl ld ncimvl@ncimvlp wwwncimvlp El Bixi Empil l@mpilp wwwmpilp Fáim Cvlh Pnnlié Imbiliái gl@pnnliimbiliicm wwwpnnliimbiliicm Fáim Figui Cnái Alnic cnilnic@pp wwwpp-vill-puglu Fnn Silv Rig Imbiliái fnnilv@igp wwwigp Fc Bg Su Jpdi, Ld fcu@jpdip wwwjpdip Fc Mn Só N Cmp, Ld fmn@mpp wwwmpp 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 Ril gi@ilp wwwilp Idléci S Idléci S, Ld idlci@pp wwwidlci-p Ibl Ph Acc - Md Imb Ld cc@gmilcm wwwcccm Jck Rbl Mkg ld mkg@millpcp Jã C Imk jc@imkcm wwwimkcm Jã Fidlg Engl & Völk Cc cc@nglvlkcm wwwnglvlkcm/cc Jã M Pdicm jlm@gmilcm wwwcchmp Jã Pi Bixil - Engnhi & Cnul jppi@gmilcm wwwbixilp Jquim Su Giphd Imbilii jquimu@giphdp wwwgiphdp Jg Fi Opimhm - Cimb jgfi@pimhmp wwwjgfipimhmp Jg Mh AJMh - Imbiliái gl@jmhp wwwjmhp Jg Póp Sn Gup In jgfpp@lbp wwwp Jé Féi A - Mdiçã Imbiliái, j@lgvlcm lgvlcm Jé Fun Mf funj@mfp wwwmf-uimcm Jé Migul Qud Evhu Imbiliái cmcil@vhucm wwwvhucm Jé Pix Rmx Bg bg@mxp wwwmxp/bg Luí Azv Mdpc cmcil@mdpcp Lu Mi Nun R CmpC lunun@cmpcp wwwcmpcp

7 Pugu Hug Mk Suv OUTUBRO 2014 OCTOBER Pl Inquii Cnibui il Luí M Rlmmi gl@lmmip wwwlmmip Mnul N Ln Mdiçã Imbiliái Ld mnul@nwb wwwnglvlkcm/p Mnul Pi Cn mpipn@gmilcm wwwcncm Mnul S Gc f@gcimbiliicm wwwgcimbiliicm Mc Cvlh HmF Imbiliái cmcil@hmfp wwwhmfp Mc M McTwn mcm@mcwnp wwwmcwnp M Andé Gup Abb mnd@gupbbcm wwwgupbbcm M Figui M Figui mfpfigui@gmilcm M Sn Gvu vnd@gvup wwwgvup Mh Bic Mgmb, Ld mgmb@mgmbcmp wwwmgmbcmp M Ilfn Rmx Tvi milfn@mxp wwwmxp/vi Migul Bclhu Agui Nwmn migulbclhu@guinwmnp wwwguinwmnp Nídi Figui Dilpg gl@dilpgp wwwdilpgp Némi Ináci Mdili, Ld gl@mdilip wwwmdilip Nun Cmp Rplu - Md Imbiliái,Ld p@plup wwwplup Nun Li Nlimbilii gl@nlimbiliip wwwnlimbiliip Nun Vidl Imvidl nunvidl@imvidlp wwwimvidlp Pick Ln Bz Pugl pl@ncbp wwwbz-puglp Pul Gnçlv Pul Imbiliái cmcil@pulimbiliip wwwpulimbiliip Pul Ci Mn Cmnm gl@cmnmp wwwcmnmp Pul Fnn Cnu 21 Fiméic 01 pulfnn@cnu21p wwwcnu21p 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 Nvimd pph@nvimdp wwwnvimdp Pd Pi Opnbk pdpi@pnbkp wwwpnbkp Rmi Fnn Rmif Ld mfnn@mifp hp://wwwmifp Rmx 1000 Blã P 1000@mxp wwwmxp/1000 Rmx Spii R Mágic - Mdiçã Imbili pii2@mxp wwwmxp/pii2 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@mdgcicm wwwmdgcicm Rui Pi d Silv Cbu p@cbup wwwcbup Ségi Cx P Alnj Ld plnj@cnu21p cnu21p/plnj Sni Fi Fh-hm gl@fh-hmp wwwfh-hmp Tig Guvi Fullhu guvi@mxp wwwmxp/m Vlm Sn Vldn Imbiliái vn@vldnimbiliip wwwvldnimbiliip Vc Mnç Cnl Lbn vcm@cnllbnp wwwcnllbnp Vni Fnn Acbc - MdImbiliái ld gl@cbcp wwwcbcp Vic D C Hculn Vi Smi Ld gi@cmpcp wwwcmpcp/l&f Ví Gnçlv Mnil, Ld gl@mnilcm wwwmnilcm 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)