During the state of emergency, because of the COVID-19 pandemic in Portugal, real estate activity in Portugal slowed down but certainly did not stop: business was developed mainly from home. Although face-to-face visits to real estate were not legally prohibited, professionals in the sector decided, in most cases, to cancel or reschedule procedures - and to make use of technology, for virtual tours, alongside other digital solutions. Now, and with recovery underway in the country, the resumption of real estate mediation, as well as the valuation of real estate for home loans, should gain new impetus. In this return to a certain level of "normality", the respect for all the safety rules and regulations imposed by the Government and health authorities is the order of the day.
Activity during the pandemic
Carlos Calvário, Secretary General of ASAVAL, Associação Profissional das Sociedades de Avaliação (the Professional Association of Valuation Societies), recalls that despite the health crisis we are going through and the need to comply with the rules of social distancing established by the Directorate General of Health (DGS), "the activity of property valuation, for examaple, has never been interrupted", since, and in this particular case, "it is essential so that the process of granting mortgage credit to families and companies by the national financial system is not affected".
He also recalls that all the procedures were "opportunely approved" by the CMVM (Portuguese Securities Market Commission) through a circular letter issued on 25th March, where it was made clear, already at that time, that the inspections of real estate should continue "in justified and proven cases, and when strictly necessary, inspections can carried out by third parties, supported by technological alternatives for that purpose".
Calvário stresses that valuation companies already had a great deal of experience in working from home, "which has proved to be very useful in the current situation". He also confirms that in cases where there are constraints or even impediments to the carrying out of the inspection from inside the property, "the use of technological means, namely through video calls, has been extremely important to carry out these tasks", and that, nevertheless, "this work continues to be accompanied by visits from outside, carried out by valuation experts to the properties in question". However, he stresses, and "as one would expect", the impact that the pandemic is having on the economy "is logically also reflected in our sector, with a significant drop in the volume of valuations related to the financial sector already evident".
Extreme care must be taken
Now that house visits are resuming, the use of masks or visors is complusory and the cleaning and disinfecting of spaces, human distancing and avoiding contact with equipment, objects and surfaces must be promoted. Washing your hands immediately after a visit is also highly recommended, using liquid alcoholic solutions whenever necessary. All of these simple tips will help in reducing the spread of infection.
Back to "real" life, but technology is more important than ever
The real estate industry was given the green light by the government to resume activity in the first phase of the country's recovery plan. This plan will be done in three stages and started on 4th May 2020. The real estate industry in Portugal wants to give its best efforts to adapt to the new reality.
Over the last few weeks and months during the pandemic, not only real estate agents, but also consultants, as well as marketing and communication specialists, have been placing the emphasis on the importance of digitisation and the new ways of working that will remain with us beyond the pandemic. Teleworking, video calls and virtual tours, and innovative plans, such as Virtual Home Staging, a new feature on idealista, that allows advertisers to decorate a house in a digital way, a useful tool that can speed up the closing of deals. Now, but also in the future, post-coronavirus.