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1Q Already Sees Fall in Housing Sales in Portugal

5 May 2020 – In the three months of this year, approximately 44,850 residential properties were sold on continental Portugal, a fall of 5% quarter-on-quarter, according to data published by Confidencial Imobiliário.

The Metropolitan Area of Lisbon (MLA) saw one-third of total sales (33%), while Porto registered 15%, with around 6,640 homes sold. The Central region accounted for 23% of quarterly sales, followed by the North (14%), the Algarve (9%) and the Alentejo (6%).

The average price for homes sold reached 1,734 euros/m² nationally, compared to 2,222 euros/m² in Metropolitan Lisbon, 1,495 euros/m²  in Porto and 1,799 euros/m² in the Algarve. Housing prices in both the Central and Northern regions came in below one thousand euros/ m².

Original Story: Jornal Económico – Rodolfo Alexandre Reis

Translation/Summary: Richard D. Turner