Real Estate Transactions Grow 21% in 2017

Last year, 153.292 family dwellings were transacted and 19,3 thousands of millions of euros were achieved.

Last year, 153.292 family dwellings were transacted, 21% more than in the year of 2016. 19,3 thousands of millions of euros were reached like this, which represents an increase of 31% in relation to the previous year. The data were collected from Office of Studies of the Association of Professionals and Companies of Real Estate Mediation of Portugal (APEMIP).

Drawing a comparison between the fourth trimester of 2017 to the homologous period of 2016, the increase in the transacted family dwellings fixated at 24%.

For APEMIP President, Luís Lima, the revealed numbers weren’t surprising and “go in the direction of APEMIP’s estimates, which during the course of 2017 pointed to a growth of 25%”.

“For six years we’ve monitored and advanced with numbers always confirmed by official data, with a small margin of error, which lends credibility to the market monitoring led by APEMIP’s Office of Studies”, the president explains.

For 2018, the real estate representative points to a transactions increase of 30%, but fear that there could be situations that destabilize the real estate market and that they could impact on the perspective of growth for 2018.

“Legislative changes in areas that directly impact the sector’s dynamic, such as possible tweaks in the law of local housing, could be catastrophic for real estate. Caution must be taken when making decisions. On top of this, it’s also necessary to return to construction, so there can be enough offer in the market to respond to the needs of demand”, Luís Lima states.