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Real Estate Investment Increases 48% in Porto’s Historic Centre

7 June 2018

In 2017, 389 properties were bought and sold in Porto’s historic centre, in an investment volume that amounted to approximately 119 million euros. This figure represents a growth of 48% compared to the €80 million invested in 2016, according to Confidencial Imobiliário (Ci). Compared with 2015, the growth in investment volume in 2017 is even more significant, with trading volumes increasing by 180%.

Regarding the number of transactions, the year 2017 showed an increase compared to the two previous years, with the 389 real estate transactions, representing an increase of 25% compared to 2016 and of 73% compared to 2015.

“Along with the vitality of the current level of real estate investment, Porto’s historic centre is witnessing the appreciation of residential assets that is mirroring its dynamism and increasing attractiveness, with sales prices posting year-on-year growth since 2012,” Ricardo Guimarães, a director at Ci, said.

According to the Historic Centre of Porto Price Index, which is calculated by Confidencial Imobiliário, in 2017, the price of homes in the area increased by 10.3% compared to 2016 and has already increased by 128% (in cumulative terms) since 2011, a year in which the index reached its nadir. Nevertheless, the increase in 2017 represents a deceleration in the pace of the price growth compared to both 2016 (12.7%) and 2015 (a year in which the appreciation exceeded 17%).

Original Story: Diário Imobiliário

Translation: Richard Turner