All Market News: Spanish Real Estate Intelligence

Residential Real Estate Transactions Reach Ten-Year High
9 October 2019 – According to the Portuguese Association of Realtors and Real Estate Agencies (APEMIP), there were a total of 242,091 real estate transactions, including urban, rustic and mixed properties, in 2018. That figure represents an increase of 6.8% y-o-y. The total volume of real estate transactions reached more than 26.1 billion euros, two billion euros more than in 2017, and year-on-year change of 7.5%. Of the properties sold, 29.8% were in the North, 25.7% in the Center region, 25% in the Lisbon Metropolitan Area, 8.6% in the Algarve Region, 6.5% in the Alentejo, 2.4% in the Azores and 2% in Madeira. Original Story: Construir Adaptation/Translation: Richard D. K. Turner
Empty and Ruined Homes to Pay Higher IMI Tax Rate
9 October 2019 – Property owners who own vacant homes may be penalised with a higher property tax (IMI) rate but only for the empty apartments, not the building as a whole. Those properties that have been declared as vacant for more than a year, or in ruins, may be charged up to three times the stipulated IMI rate. Municipal authorities set the IMI rates in a band that goes from 0.3% to 0.45%. The local authorities also have the power to decide whether to charge the aggravated tax rate on vacant properties. Original Story: Idealista Photo: Alistair MacRobert - Unsplash Adaptation/Translation: Richard D. K. Turner
Housing Prices Rise by 2.5% in Portugal as Growth Moderates
9 October 2019 – The residential real estate sales market in Portugal is seeing continued, though more moderate, growth. Housing prices rose by 2.5% q-o-q in the third quarter of 2019 to reach €1,981 per square meter, according to Idealista. That is equivalent a 15% increase year-on-year. The rate of growth fell, however, from increases of 3.3% and 4.5% in the first and second quarters. By region, the Azores posted the highest growth (4.1%). The North (2.7%), Lisbon Metropolitan Area (2.7%), the Autonomous Region of Madeira (1.8%), the Algarve (1.4%) and Centro (1%) followed. The Alentejo was the only region to see negative growth (-1%). Original Story: Idealista Adaptation/Translation: Richard D. K. Turner