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residential Market News: Spanish Real Estate Intelligence

Portugal’s Banks Steadily Increasing Mortgage Lending

Portugal’s Banks Steadily Increasing Mortgage Lending
17 September 2019 – Mortgage lending in Portugal accelerated once again in July as the country’s banks granted 967 million euros in residential mortgages, an increase of 14% month-on-month. The volume of new consumer and other loans totalled 515 and 183 million euros, respectively, according to the Bank of Portugal. In the first seven months of the year, the country’s financial institutions granted a total of €5.898 billion in mortgage loans, an increase of 3.6% and a nearly ten-year high. Original Story: Idealista Adaptation/Translation: Richard D. K. Turner  
 
Vanguard Properties to Build New Luxury Residential Development in Picoas, Lisbon

Vanguard Properties to Build New Luxury Residential Development in Picoas, Lisbon
17 September 2019 – Vanguard Properties will invest approximately 20 million euros in developing a residential building in Picoas, central Lisbon. The firm has hired the construction firm Edivisa to build the apartment building at Rua Tomás Ribeiro 79. The developer expects the work to take 18 months and to invest roughly 18 million euros. The new building will go up between Saldanha and Marquês de Pombal. It will consist of 28 one- to four-bedroom flats prices at between 7,000 and 9,000 euros/m2. The project will also have private parking, a spa and indoor pool. Sales are expected to begin next month. Original Story: Jornal de Negócios Adaptation/Translation: Richard D. K. Turner
 
Marechal Saldanha Prestige is Porto’s Latest Luxury Residential Development

Marechal Saldanha Prestige is Porto’s Latest Luxury Residential Development
12 September 2019 – Located in one of the most exclusive areas of Porto, the Foz do Douro, the five-storey residential development called Marechal Saldanha Prestige consists of six apartments. Prices range from €690,000 (a two-bedroom with 122 m2) to €1.3 million for a three-bedroom penthouse duplex on the fourth floor. The remaining flats, which include three-to-four bedrooms flats, have prices between €1.1 and 1.2 million and areas between 211 and 250 m2. The development, on Rua Marechal Saldanha, is located close to the sea. The innovatively designed, large apartments all have ample balconies, parking spaces and a storeroom. Construction will be completed during the second half of 2020. Original Story: Idealista - Elisabete Soares Adaptation/Translation: Richard D. K. Turner
 
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