Edition 1475
19 May 2018
Edition: 1475

Read this week's issue online exactly as it appears in print.

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Most houses selling in less than six months

in News · 08-02-2018 13:21:00 · 0 Comments

It will no doubt be music to the ears of those looking to sell their homes that more than 80 percent of
properties that have been put on the national market recently, sold in less than six months.

Recent data from national real estate association APEMIP shows that of those, the majority - 61 percent – that sold the quickest were one and two bedroom properties.
This, APEMIP says, is “a speed that confirms the good momentum of the market”.
“The Portuguese real estate sector is experiencing a dynamism that has not been seen for a long time, especially with regard to the residential segment”, the association confirmed, based on its December barometer.
APEMIP president Luís Lima commented: “It is absolutely fabulous to witness this dynamic, especially when compared to the scenario two to three years ago, where assets in the portfolio took up to two years to be transacted.”
The barometer carried out by APEMIP’s Studies Bureau further picked up on other trends characterising the market at present, namely with regard to the value of properties being sold, which is going up.
More than half (about 55.6 percent) of sales involved real estate with prices up to 175,000 euros, values that, in APEMIP’s view, “mirror the bulk of sales made in the domestic market”, and the majority were one and two bedroom properties.
Luís Lima believes this is a good indication of what the bulk of household demand is; information that “can and should be taken into account as soon as there is a desired return to new construction.”
“The biggest difficulty, and therefore the great challenge of the real estate sector in Portugal, is the lack of real estate stock in the cities, which is the main factor for the accentuation of prices that has been verified in the market.
“Supply is declining, and it does not respond to the needs of demand, so a return to new construction is starting to look inevitable. Otherwise, the housing problems will accentuate even further. As new-builds go up, we will be creating advantages for families who will be able to find assets on the market that best meet their needs and abilities; for real estate companies who will have more product to market and meet the needs of their customers; the banking sector will guarantee dividends through investment financing and through mortgage loans; builders will be able to create more jobs; and the real estate market itself will be able to alleviate prices and respond to housing needs”, the APEMIP president explained.

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Edition 1475
19 May 2018
Edition: 1475

Read this week's issue online exactly as it appears in print.

Twitter

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