The sale of properties in the secondary market takes up to 17 months (10 in 2009) Positive is the fact that the number of objects that are sold for 500 units exceeds the number of objects moving in a base of sales (1500 and 1000 the rate of 1 areas in the Greater Lisbon). This is indicative of the fact that the oversupply in the market gradually absorbed. The main players in the market are real estate agency Remax, Era, Century21 and the union Comprarcasa. Prices When you look at prices in the prime segment, then by average European standards, a Portuguese real estate is very decent looks. Prices in neighboring Spain, approximately 40% higher. (Table at right).
At the same time if you start from the data published by the Portuguese Institute of Statistics based on the assessment of banking institutions * Average price square meter property in Portugal in the 1 st quarter of 2010 amounted to 1,189.00 euros. As can be seen in the diagram constructed on the stat. This price has passed its minimum in the 1 st quarter of 2009 and since that time show an increasing trend. Average price m Euro Apartments Property in the average home Regions If we take the weighted average price per square meter to 100%, and build a map (right), then we will see the most vivid colors in areas of Lisbon, Algarve and Madeira. Weighted average cost here is 25-30% higher than the national average.
North-eastern region bordering Spain – represent the lowest prices. Prices per square meter in the capital – Lisbon -2039.00 Euro, Porto 1,452.00 euros. As can be seen at Porto and Lisbon will compete with for the title of the capital – the cost of housing is considerably inferior. To be more specific example is in the Alentejo or too Montesh You can buy a decent house for 50 000, same time on the Cascais line or in the Algarve, you’ll pay twice as much just for a sea view. The vast majority of buyers of Portuguese property acquired with the use of bank credit. So on a per capita Lisbon accounts for about 9000 euro loan for real estate in absolute terms. If we talk about buyers foreigners, then they were before the crisis, the British and the Germans. British pensioners happy to choose the Algarve for life for several reasons – the low level of consumer prices, climate, tranquility, among others. Russian bought a resort property that was where to go to rest. But lately, the Russians have also become legible. Their interested in housing as an investment option with a guaranteed income: month rest, the remaining time to receive dividends. Trends debt crisis that shook the southern European countries of course could not affect the value of the property. And most likely in the 2 nd and 3 rd quarter, we will see some decline in property prices in Portugal. However, as experts say – such a reduction may be in a segment of the middle class. Housing premium is less subject to fluctuations – luxury villas on the sea is always a price. As an example – the Portuguese Riviera. Houses and apartments in Estoril and Cascais to the beginning of the crisis is not cheaper. Builders confident that they can sell them so.
