Portuguese real estate is "lively", even in times of pandemic. That is according to Frederico Abecassis, CEO of Coldwell Banker Portugal. Domestic demand has contributed to the strength of the market, but so have foreign families who want to come to live in Portugal. Further boosting this sector in Portugal have been digital nomads, who Abecassis claims represent a "segment that has been stimulating the market".
The digital nomads, according to Frederico Abecassis, are "responsible for the growth that has been verified, especially in the city of Lisbon, where they tend to settle for a period of time that can vary between six months to one year".
For the CEO of Coldwell Banker Portugal, the real estate market has not stagnated and is in "frank recovery". "This is especially noticeable in the increase in demand and the valuation of housing that has been recorded in recent months," he says, quoted in a statement.
Coldwell Banker Portugal: invoicing grows by 154%
From January to September 2021, Coldwell Banker Portugal conducted a total of 376 transactions, a 133% increase when compared to the same period of 2020. "If we analyse the third quarter in isolation, we see that the number of transactions carried out was 146, this being the period in which the real estate network carried out the highest number of deals transacted (a 135% increase compared to the same period the previous year)," it further reads.
The turnover recorded by the real estate company throughout the year 2021 shows "sustained growth", mainly from the second and third quarters, which, accompanied by the lifting of the restrictions imposed due to the Covid-19 pandemic, stood at +61% and +78%, respectively.
In the first nine months of the year, average invoicing per consultant stood at 25,469 euros and the sales volume generated was 110% up on the same period last year. Until October, the average ticket of the Coldwell Banker Portugal real estate network was 1.654 euros for renting and 469.672 euros for selling.
