2018 – Another record year!algarveinsights
2017 has so far been the best year ever in terms of properties sold in Portugal, at least since 2009 when this sort of data was collected and registered for the first time. Although official data from National Institute for Statistics (INE – Instituto Nacional de Estatística) will not be released until March, it is already clear that last year is the new record year.
According to estimates from the Portuguese association of estate agencies and professionals (APEMIP – Associação dos Profissionais e Empresas de Mediação Imobiliária de Portugal), 176,000 to 183,000 properties were sold between January and December 2018, so around 500 properties per day, an increase of 16% to 20% in relation to the previous year and around 125% in relation to 2014.
Official data shows that 132,000 properties were sold until the end of the third quarter of 2018.
A total amount of 3,5 billion euros was invested in property last year. An increase of 54% in relation to 2017.