Real Estate: House prices up by 6.9% on a year before – 1st Quarter 2016

GA News

In the first quarter of 2016, the House Price Index (HPI) increased 6.9% when compared to the same period of the previous year. This is the tenth consecutive period in which the HPI presented an annual increase in prices and the highest rate of change observed for this series. With Portugal immigration policy, the real estate has already become the hot destination of investment and immigration.

 

First: The number and value of real estate in the first three months in Portugal increase

In the first three months of 2016, the house sales indicator accounted for a total of 29,464 residential units sold (81.3% of which were transactions of existing dwellings). In this period, the transacted dwellings were evaluated at approximately 3.4 billion Euros, 13% more than in the same period of 2015.

 

From the number of transactions, 65.1% was concentrated on Area Metropolitana de Lisboa (35.5%) and the Norte Region(29.6%), which is the first time after the third quarter of 2010 to have the transaction amount over 10 thousand on Area Metropolitana de Lisboa.

 

For now the transaction amount of Portugal real estate increases 75% compared with last year, and is 3 times of that in 2012.

 

Second: Portugal real estate has become the hot destination of Investment and immigration

 

It shows that more and more Portuguese choose to invest on real estate, for the interest charged is unprecedentedly low, which makes it cheaper for loan. Some purchase real estate for renting, some for investment purely.

 

In addition, with rare housing resources, it becomes difficult to rent house in Portugal, which shows clearer among the youth, cause their purchasing power is weak, and the rental increases.

 

According to the statistics, the sale of property in Lisbon, Porto and Algarve is the best. On one hand, a lot of Chinese would like to invest on Portugal real estate market so as to get the Golden Visa; on the other hand, the safety and stability of Portugal real estate market gradually attract other foreigner investor, such as Frence and Brazil.

 

It is predicted that according to the trends, the sales volume in this year will increase 35% to 40%, and that in 2015 increased 27%.

 

 

 

 

 

 

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