Portugese Property Prices

Similarly, sale of properties on the secondary market can take up to 17 months (10 in 2009).. The positive is the fact that number of items that are sold for 500 units more than the number of objects moving in a base of sales (1500 and 1000 at the rate of one district in the Greater Lisbon area). This is evidence in favor of that excess supply in market is gradually absorbed. The main players in the market are real estate agency Remax, Era, Century21 and union Comprarcasa. Price When you look at prices in the prime segment, then the average European standards, the Portuguese Real estate is very decent.

Prices in neighboring Spain, approximately 40% higher. (Table below). At the same time, judging from data published by the Portuguese Institute of Statistics based on the assessment of banking institutions * average price per square meter property in Portugal in the 1st quarter of 2010 was 1189.00 euros. As can be seen in the diagram constructed on the stat. Prices were given a minimum in the 1st quarter of 2009 and since that time show an increasing trend.

Comparison table of prices in the segment Prime euro / sq.m. Graph: Price dynamics in the Portuguese real estate euro / m (apartments, houses) Regions Taking the weighted average cost per square meter to 100%, and construct a map (below), we see the most vivid color in the areas of Lisbon, Algarve and Madeira. The weighted average price here is 25-30% higher than the national average. The north-eastern region border with Spain – are the lowest prices. Cost per square meter in the capital – Lisbon -2039.00 Euro, Porto 1452.00 euros. As can be seen at Porto and Lisbon will compete with for the title of the capital – the cost of housing is much inferior. More specifically then, for example, in the Alentejo or Trazh Montesh so you can buy a decent house for 50 000, at the same time on the line or in the Algarve, Cascais, you'll pay twice as much just for a sea view. The vast majority of buyers of Portuguese property is purchased using a bank loan. So on one inhabitant of Lisbon is about 9000 euro loan for real estate in absolute terms. If talk about buyers foreigners, then they were before the crisis, the British and the Germans. British pensioners gladly Algarve choose to live, for several reasons – the low level of consumer prices, climate, tranquility, among others. Russian bought a resort property that was to go to rest. But lately, the Russians have also become legible. They are interested in housing as an investment option with a guaranteed income: a month rest, rest of the time you get dividends. Trends debt crisis that shook the southern European countries, certainly could not affect the value of the property. And most likely in the 2nd and 3rd quarter, we will observe a certain decrease in property prices in Portugal. However, as experts say – such a reduction may be in a segment of the middle class. Housing the premium is less subject to fluctuations – luxury villas on the sea always in price. As an example – the Portuguese Riviera. Houses and apartments in Estoril and Cascais to the crisis, not cheaper. Developers are confident that they can sell them so. * – Statistics As of March 2010 on the basis of bank real estate appraisal for lending purposes