Residential Development Up in Early 2020

14 May 2020 According to a report by Confidencial Imobiliário, authorities granted municipal licensing for 11,553 new homes in mainland Portugal in the first three months of 2020. Those new homes are included in 4,971 residential projects, an increase of 9% in the number of homes and 8% in the number of projects.

New construction was the primary driver of residential development, accounting for 80% of the new licensing. The Lisbon metropolitan area continued to be the principal site for residential development as well, with 1,042 projects and 3,155 new homes licensed, an increase of 16% over the same period in 2019.

Original Story: Jornal de Negócios – Ana Batalha Oliveira

Translation/Summary: Richard D. Turner