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March Sees Dramatic Fall in Municipal Construction Licensing

27 May 2020 – Portuguese municipalities’ issuance of licenses for residential construction and rehabilitation posted a fall of 5.6% in the first quarter of this year compared to the same period in 2019, led by a brutal drop of 19.1% in March, the Association of Civil Construction and Public Works Industries (AICCOPN) announced.

Municipal licensing of new dwellings also fell in the first three months of the year by -6.1%, again worsened by a dramatic fall in March (32%).

Valuations of residences carried out by banks for potential mortgage loans posted an average value of 1,110 euros/m2 in March, an increase of 10.3% year-on-year. The first month-on-month fall since January 2016, however, also came in March.

Original Story: Construir – Ricardo Batista

Translation/Summary: Richard D. Turner