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72,000 Homes Sold in the First Semester, the Highest Amount in Nine Years

9 October 2017

Between January and June of this year, 72,000 properties were bought and sold. In total, 8.9 billion euros were spent, the highest total sales in the last nine years. This is a growth of 18% in number and 25% in value compared to the first six months of last year.

According to Correio da Manhã, which based its reporting on data from the Portuguese Construction Industry and Public Works Federation (FEPICOP), only 4% of the 72,000 houses sold were new. What’s more, the overwhelming majority of transactions relate to old buildings which have since been refurbished or renovated.

Almost half of the 8.9 billion euros invested were spent in the Lisbon Metropolitan Area (AML), and 35% of the houses sold were in the 18 municipalities comprising the capital.

Original Story: Idealista

Translation: Richard Turner