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Foreigners buy one quarter of all houses sold in Portugal in 2017

Posted by On 7:40 AM

Foreigners buy one quarter of all houses sold in Portugal in 2017

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LISBON, Jan. 11 (Xinhua) -- In 2017, 25 percent of all houses sold in Portugal were bought by foreigners, the Association of Portuguese Real Estate Promoters and Agents (APEMIP) revealed on Thursday.

The biggest buyers were the French, president of APEMIP Luis Lima, told the Diario de Noticias newspaper.

House prices shot up by as much as 35 percent in Lisbon and 29 percent in Porto in 2017. But they are still cheap compared to other European cities, hence their attraction to foreign buyers.

Despite the price hikes, the number of house sales climbed by between 25 and 30 percent in 2017. By APEMIP's calculations, 152,000 houses were sold over the course of the year, some 23,500 more than in 2016.

The APEMIP expects these trends to continue in 2018.

Source: Google News Portugal | Netizen 24 Portugal

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