Page 6 - The Portugal News : Online Issue

 

 

 

 

 

Page 6 - The Portugal News : Online Issue
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6 The Portugal News •  18 Aug  2018                                News


      Record number of real estate agencies mushrooms



      as national market booms



      As the national real estate market thrives, with property prices and sales on a dizzying upward trend, another new record has
      also been set for the number of real estate agencies operating in Portugal, with more than 6,000 up and running in June.

                                                                                                        metropolitan area of Porto,  accompanies the
                                                                                                        Algarve and in the      moderation of
                                                                                                        Autonomous Region of    expectations regarding
                                                                                                        Madeira.                activity that has been felt in
                                                                                                        In the first quarter, the  recent months”, a
                                                                                                        average value of        statement accompanying
                                                                                                        transactions was over   the survey read.
                                                                                                        €133,000 nationally, Eco –  In comments to Eco –
                                                                                                        Economia online reports,  Economia Online,
                                                                                                        an increase of 8.6 percent  Ricardo Guimarães,
                                                                                                        on the same quarter last  director of Ci, elaborated
                                                                                                        year.                   “this is not the first time
                                                                                                        Lisbon stood out as the  activity in the real estate
                                                                                                        region with the highest  market has seen a decline
                                                                                                        average residential value –  in the summer period,
                                                                                                        of over €179,000 – followed  particularly with regard to
                                                                                                        by the Algarve with an  demand from potential
                                                                                                        average value of more than  buyers. It was like it this
                                                                                                        €162,000.               year and in previous years,
                                                                                                        However, summer has     even in the Algarve,
                                                                                                        brought with it a slight  despite it being the high
                                                                                                        slowdown in the demand  season of tourism”.
                                                                                                        for and sale of houses, and  The survey also reveals
                                                                                                        despite the positive phase  that “housing demand in
                                                                                                        the national real estate  the country continued to
                                                                                                        market is going through, it  grow, but at the slowest
                                                                                                        seems that there has been  pace since December last
                                                                                                        a slight cooling in fervency.  year”.
       Portugal’s Avenida da Liberdade has some of the priciest real estate in the country.
       Portugal’s Avenida da Liberdade has some of the priciest real estate in the country.
       Portugal’s Avenida da Liberdade has some of the priciest real estate in the country.
       Portugal’s Avenida da Liberdade has some of the priciest real estate in the country.             According to the        Sales show “some
       Portugal’s Avenida da Liberdade has some of the priciest real estate in the country.
                                                                                                        Portuguese Housing      regional asymmetry, with
              his is up 15     loans approved by banks  sixth consecutive month  new loans amounted to  Market Survey (PHMS), the  Porto again registering
             percent on the    exceeded €783 million in  where more than 140 new  €277 million, growing 183  residential market  steady growth in
             number of         April, which is the best four-  companies were created.  percent by June of this  witnessed a slowdown in  transactions, while in
      Tagencies                month start to a year since  “It’s the best progression  year.           June, with sales growth  Lisbon reported sales grew
      operating in Portugal the  August 2010.          ever for the national real  During the first half of this  and housing demand  only marginally and in the
      same time last year,     In June, there were 6,025  estate market”, the  year, residential        decreasing.             Algarve there was even a
      according to specialist  real estate companies   company said in a       transaction values were  The survey, carried out by  slight decline in monthly
      consultants Keller Williams  active in Portugal, a historic  statement.  close to historical highs  RICS and Confidencial  terms”.
      (KW), in a report by     new high which is up 15.1  KW reflected that the  (since 2009) in the Central  Imobiliário (Ci), also notes  In turn, the offer “continued
      business site Eco –      percent on June 2017, and  volume of new housing  region, Algarve and    that a “lack of supply is one  to decline in June, this
      Economia Online.         is a number that has been  loans granted by financial  Autonomous regions of  of the reasons for this  being the 15th consecutive
      Testimony of the thriving  rising exponentially since  institutions reinforces the  Madeira.      deceleration of activity, by  month in which the entry of
      phase the sector is      June 2015.              “financial recovery trend  In relation to the first  limiting the choices of  new homes for sale in the
      experiencing is news that  According to KW’s data,  started in February 2013”.  quarter, almost historical  potential buyers, but also  domestic market has
      the number of new house  June 2018 represents the  In April 2015, the volume of  highs were observed in the  that this performance  shown a decrease”.
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