How Covid-19 affected the real estate market: Deborah and Stéphane point to opportunities

“There will be new ways to travel and to live, which will prove beneficial in the long run.”

Faced with the lockdown in the early stages of the Covid-19 pandemic, Deborah Guest and Stéphane Nuvoloni did what everybody ese did: they confined to their house in Lisbon and adapted to the new times. However, with the easing of restrictions work went back into its normal rhythm, without any major changes. “We were forced to take some safety measures, making sure we didn’t forget our gloves and all the other sanitary concerns, thinking ahead before meeting up with people and wearing masks. That’s what really changed”, Deborah says.

Clients’ expectations

Nonetheless, the pandemic did bring some uncertainty in economic terms and that has shown in the behaviour of some of the clients. “Our clients expect prices to go down. If there is a second wave, will they?”, asks Deborah.

Others, however, following lockdown, felt the urge to get a house with a garden, or by the beach, whereas some want exactly what they were looking for before. “An apartment with a view, a balcony”, she adds.

Despite that, and faced with the uncertainty of the future, several factors point to a favourable evolution of the country’s real estate market. “Portugal handled the crisis well, the Portuguese people are very friendly, the climate is perfect, and the locations are magnificent”, says Deborah.

Deborah and Stéphane’s clientele remains basically the same, with a couple of differences. “Many of our clients come from Europe. We have Italians, and we’re not doing too badly in terms of English. Obviously we have French clients, but there are also French who were already living abroad, such as in Hong Kong, and they have begun to request our services as well”.

In terms of work, Stéphane says that the pandemic has not had a negative impact up to now. On the contrary, it has opened up new opportunities. “For instance, with the coronavirus, some people who were hesitating about moving to Lisbon have finally taken that decision, it ended up forcing their hand”.

Looking ahead, Stéphane says that “the future is, above all, bright”. And despite the economic impact of the pandemic in Portugal and the world, new opportunities will come: “There will be new ways to travel and live, which will prove beneficial in the long run”.

See more: Buying in Lisbon: Stéphane and Deborah help foreigners to find a new home


Thinking of moving to Portugal?

What do I have to do to buy a house?

Read article

The right partner to finance your home

Learn more now