Brokers Expect Real Estate Transactions to Grow 20% this Year

18 October 2017

The boom in the real estate industry seems to be settling in for a long run. As the 20th edition of the Portuguese Real Estate Exhibition (SIL) begins, – the fair runs from the 19th to the 22nd – Luís Lima, president of the Portuguese Association of Realtors and Real Estate Agents (APEMIP), expects the number of transactions to grow 20% this year.

“Growth over the last three years was almost 70%, which is an extremely positive figure,” the executive said in statements to Antena 1. “This year, total real estate investment will exceed 20 billion euros. It is hard to overestimate the importance this has for the Portuguese economy, “he added.

According to the APEMIP’s estimates, the sector “will continue to grow” over the next two years. “From that point on I cannot guarantee anything,” he said, basing his uncertainty on the elections that are scheduled to occur in two years time. “Normally there may be some political instability following the elections, and a lot will depend on that,” he explained.

Original Story: Idealista

Translation: Richard Turner