residential Market News: Spanish Real Estate Intelligence

Affordable Housing Programme in Lisbon Finalizes Applications
8 July 2020 The first phase of applications for Lisbon’s affordable housing programme, which began on May 18 and ended last week, received 177 applications from property owners interested in renting their properties. According to the city council, owners have registered a total of 338 properties, 45 were previously used as short-term lets. The 338 properties came from 188 different owners. The majority of the homes (72) are two-bedroom flats, along with 42 one-bedroom units and 36 three-bedroom homes. There are also 15 studios, 11 4-bedroom flats and one 5-bedroom apartment. The average rental price, which will be charged to the city council, is 723 euros. Original Story: Economia Online - Rita Neto Translation/Summary: Richard D. Turner
Eurozone Housing Prices Rose by 5% in 1Q20
9 July 2020 Eurostat, the European statistics agency, reported that, during the first quarter of this year, housing prices in the eurozone suffered the most substantial year-on-year increase since 2007. Portugal itself saw the largest quarterly rise of all. Housing prices in the eurozone rose by 5% y-o-y, while prices in the European Union increased by 5.5%. Original Story: Sapo 24 Photo: Pedro Soares Botelho / Madremedia Translation/Summary: Richard D. Turner
Wyndham Grand Algarve Opens in Quinta do Lago
9 July 2020 The former Monte da Quinta Resort has reopened its doors as the Wyndham Grand Algarve Residences. The 132-flat hotel in the Algarve's Quinta do Lago includes spa areas, two swimming pools, a golf course, tennis courts, a kids club and sports fields. The flats, which were recently refurbished by Wyndham Grand, are now on sale. Prices start at 532,000 euros. Buyers of the flats, which come furnished and designed to for use as short-term letting accommodations, have a guaranteed return of 3.5%. Sotheby's is in charge of sales. Original Story: Economia Online - Rita Neto Translation/Summary: Richard D. Turner