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Residential Property Prices Rose by 15% in One Year
5 September 2019
Residential property prices in mainland Portugal rose by 14.8% in the second quarter of 2019 compared with the same period last year, according to Confidencial Imobiliário’s Residential Price Index. Quarterly growth reached 3.9%.
The recent increase in housing prices, as last year also saw growth of around 15%, has finally lead to a reaction by developers. The pipeline for new homes reached 93,000 since 2017 as developers look to take advantage of the spike in demand. At the same time, the growth in the supply of new and refurbished homes is expected to rein in prices in the medium-term.
Original Story: Jornal Expresso – Vitor Andrade
Photo: Wolfgang Kaehler / Getty Images
Adaptation/Translation: Richard D. K. Turner