Home sales in Portugal up

in Business · 05-07-2019 01:00:00 · 0 Comments
Home sales in Portugal up

Property sales in Portugal increased by 7.6 percent during the first quarter of the year, representing 43,826 sales in total.

According to data from the Association of Professionals and Companies of Real Estate Mediation of Portugal (APEMIP), while increases continue, they are still lower than during the previous quarter.


Between January and March 2019, sales amounted to some 6.1 billion, an increase of 12.9 percent over the same period in 2018.


According to APEMIP “during the period under analysis, the value of houses transacted in the Lisbon Metropolitan Area amounted to €2.9 billion, in the north it was 1.4 billion, in the centre €725 million and in the Algarve it was €672 million”.


Areas that did not have such positive results were the “Alentejo, Madeira and the Azores where total transactions corresponded to approximately 400 million”.


APEMIP president, Luís Lima indicated that this behaviour is normal at the beginning of the year “there is no reason for great alarmism because there is still a rise in sales “.


He added: “It is natural that the market begins to see a slight fall in the number of transactions, which is justified mainly by the lack of real estate on offer and does not correspond to the huge demand that is actually in place.”


Meanwhile, house prices in Portugal continue to rise with prices up by 4.5 percent during the second quarter of 2019 according to the Idealist Price List.


All regions witnessed a quarterly increase in prices, with the exception of the Azores, which declined by 1.8 percent.


Areas where the greatest price increases were found continue to be the Lisbon Metropolitan Area, which saw prices increase by 6.5 percent, followed by the Centre (4 percent), the Algarve (3.9 percent), the North (3.8 percent), Madeira (3.1 percent), and Alentejo (1.5 percent).


Lisbon continues to be the city where it is most expensive to buy a house, €4,516 per m2. Porto (€2,718 per m2) and Faro (€1,841 per m2) occupy the second and third places, respectively. The cheapest cities are Castelo Branco (€671 per m2), Bragança (€738 per m2) and Guarda (€761 per m2).



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