54% of the Properties Listed for Sale are in Lisbon and Porto

9 December 2017

3,147 of the 5,840 properties listed on bpiexpressoimobiliario.pt are located in Portugal’s two leading cities.

A total of 5,840 buildings are listed for sale on the site bpiexpresssoimobiliario.pt. The real estate for sale includes homes that are ready to inhabit, and others that need extensive rehabilitation works. The distribution of the properties across the country is highly skewed. Lisbon is the district that has the most listings, with 1,888, followed by Porto, with 1,259. Together, the two cities have 3,147 properties listed for sale, 53.88% of the total.

In Lisbon, a 950 sqm building is on sale in the parish of Areeiro for €2.25 million. The property has seven apartments distributed over three floors and a basement. The building has views of the river and the cityscape.

Still in the area of Lisbon, but this time in the parish of Queluz and Belas, in Sintra county, there is a property for sale that has 482 sqm of gross area, listed for €398,000. The property in question has a basement, ground floor, first floor and attic, requiring renovations, and can be used for commerce and housing.

Porto has the second highest number of listings, after Lisbon. An example of the properties on offer is a building in the combined parishes of Cedofeita, Santo Ildefonso, Sé, Miragaia, São Nicolau and Vitória, which has 305 sqm of gross area, listed for one million euros. The building has been renovated and is located in the centre of the city and consists of seven studio apartments, with a store on the ground floor.

Five Districts Account for 71.52% of the Listings

An urban property is on sale for €232,000 in the historic centre of the parish and municipality of Vila do Conde. The building requires renovations and may be expanded, and may be used for a mixed project of commerce and housing, with plans for a 1,110 sqm space having already been approved.

If one were to add the 374 properties for sale in Setúbal, the 361 in Faro and the 295 in Coimbra to the 3,147 buildings in the districts of Lisbon and Porto, the total would be 4,177. This number accounts for 71.52% of the total listings on BPI’s site.

In the district of Setúbal, three townhouses that require renovations are on sale for €550,000, in the union of parishes of São Julião, Nossa Senhora da Anunciada and Santa Maria da Graça.

In the same region, but in the parish of Montijo and Afonsoeiro, municipality of Montijo, a four-storey building is on sale for €473,000. The building has one apartment per floor and requires renovations. It needs general repair, among which are finishing touches to the kitchens, alterations to ceilings, floors, painting, among others.

In the district of Faro, a building situated in the parish of São Sebastião and Santa Maria, Lagos municipality, can be purchased for €560,000. The property is located in the historic area of this city in the Algarve and has already been renovated.

Towards the North, in the district of Coimbra, a building consisting of basement, five above-ground floors and an attic is one sale for €2.4 million. Located in the parish of Sé Nova, Santa Cruz, Almedina and São Bartolomeu, it is located in the city’s historic downtown area.

The districts that have the fewest number of listings are Bragança, Guarda and Beja, with 12, 26 and 26 properties, respectively. But even here there are some opportunities: for example, in Bragança, where a mixed residential and commercial building is on sale for €650,000. In Guarda, there is a building being sold for €300,000, and in Beja, a building with three apartments can be purchased for €255,000.

Original Story: Expresso – Maribela Freitas

Photo: José Caria

Translation: Richard Turner