The coronavirus pandemic has caused a change in the real estate market in Portugal, including what buyers are looking for in Portugal. With this in mind, the demand for property located outside city centres has increased as a result of the pandemic, and many people are now opting to buy villas in Portugal instead of flats. Let's have a closer look at the rising demand for villas for sale in Portugal.
In one year, between April 2020 and April 2021, villas represent 37% of the total purchases made in mainland Portugal and the islands. This corresponds to a total of 302,171 transactions, where 111,301 are related to villas purchased through bank financing. This means that almost 4 in every 10 houses bought in Portugal during the pandemic were villas.
According to ECO, in a publication based on data from the National Statistics Institute (INE), flats and apartments continue to lead the ranking of type of property most purchased in Portugal. However, their presence in the overall number of properties bought with a mortgage in Portugal is decreasing, in this case to 63%.
The figures gain strength bearing in mind that this scenario did not occur before the onset of the pandemic, with villas accounting for around a third (33%) of total purchases.
In May, June, July, August and September 2020, the percentage of houses and villas purchased in Portugal as a proportion of the total always exceeded 37%, writes the publication, adding that the trend was already repeated in 2021, in March (37.1%) and April (37%). The highest figure of villas purchased in Portugal occurred in June 2020 (38.1% of total purchases - 6,270 of the 16,456 properties purchased).
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