The number of houses sold in Portugal in the first quarter of 2015 was the highest in five years, marking a ‘fingers crossed’ end to a depressed market where both prices and volume collapsed in many property segments.
Prices now are rising steadily and the number of transactions also is booming as the British are back with exchange rate swollen wallets and French and Scandinavians drift southwards away from punitive tax rates.
The slide started to slow in third quarter of 2013 when prices ending a series of 12 quarters of negative growth.
Data released by Portugal’s statistics institute today showed that the house price index increased by 0.8% in the first quarter of this year.
For previously owned property, the average price rose 2.1% with new home prices falling 1.1%, the first negative value since the third quarter of 2013.
The number of homes sold between January and March 2015 was up 38.3% over the same period the year before.
While the number previously owned properties was up by 46.7% and the sale of new homes rose 14.6%.
These figures show a sustained recovery in the housing market with the number of homes sold reached the highest level since the last quarter of 2010.
Growth is being helped by some banks at last re-entering the mortgage market without barring normal mortals by using unachievable conditions.
Comments
This when banks are using the properties and assets they own , offering guaranteed mortgages , similar to that which created the financial crisis , yet not reducing the price of the asset for sale to recapitalize but through cheap central bank money printing ..... yet offering little in interest for savers.
Turkeys at Christmas , yeah improvements in markets , things can only get better , just dont look behind the curtain Dorothy.
Unfortunately, down here on the coast few residents have sufficient income to hope to purchase their own property.
It's great that buyers are returning, but to bad so few of them [where I live at any rate] intend to live in their new houses. The second home / tourist rental market gives a short boost to the economy as they're bought and fixed up, but remain empty for 9-10 months of the year.
More people actually living here would be even better.