Property sales in Portugal ‘off the scale’

Just as forecasts predicted, 2016 has seen a boom in house and apartment sales with around €3.6 billion changing hands – €2.8 billion of which involved ‘existing properties’.

According to statistics institute INE, house prices for the last four months of this year increased by 7.6% on the same period last year. It is a new record, with existing homes selling faster than new ones.

As for transactions, these too were 15.8% up – involving a total of 31,535, reports TVI24 – adding that between July and September, the Metropolitan area of Lisbon “for the third trimester running, exceeded the barrier of 10,000 transactions” – a situation that only happened back in the heady days of 2009/ 2010.

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