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Construction works give signs of recovery in Portugal

Construction works give signs of recovery in Portugal
By Joana P. . 4 years
Categories :
Investing Portugal

Number of building permits skyrocket from the previous year

In Portugal 4.2 thousand buildings were licensed in the second quarter of 2016, corresponding to 12% more than in the same period of the last year, and  2,500 buildings were completed, which corresponds to 10.7% less than in the same period 2015 . The construction industry, which was one of the most affected by the financial crisis that struck the country, shows signs of recovery.

According to data from the National Statistics Institute (INE), there was given a total of 4,200 building permits, 65.2% were new constructions, and 69.8% of these are intended for family housing. All regions recorded positive changes in the number of given building permits, especially in Madeira, with another 60%, and Lisbon, with over 46.4%.

Source: Idealista