Real estate prices in Algarve increased by 11.2%
Like real estate prices in the Algarve, all prices in the country have increased
House prices in the Algarve are increasing progressively. In this region there was an increase of 11.2% in house prices in the third quarter of 2016 over the same period in 2015. This valuation confirms the recovery trend felt in this sector, which has registered a positive evolution in the last five quarters in a row.
According to the Residential Confidential Real Estate Index (CI), since mid-2015, when the sector reached its lowest point, house prices in the Algarve have already risen by almost 14%. Of all the municipalities in the Algarve, Faro is the one with the highest increase, with house prices rising 19% one year.
The municipality of Loulé, for example, also recorded prices above the regional average, with an increase of 12% over the same period. In the remaining Sotavento places the average rise is 10.3%, while in Barlavento this value increases to 10.8%. These were the conclusions reached by the Confidential Real Estate, an independent company specializing in the production and dissemination of market analysis indicators.
Regarding the national context, house prices in Portugal rose in all districts between 2% and 14% in the third quarter of 2016, compared to the same period of 2015. Coimbra recorded the smallest rise and Lisbon was the city where homes became more expensive.
Among the various districts, Faro leads the list after Lisbon, with Braga coming third, with a 6.9% increase in house prices. Both Coimbra and Porto registered an increase of less than 3% (2.9%) over the same period, with all other districts recording house price increases of between 3% and 6.6%.
Confidential Real Estate (CI) points out that domestic prices are still 13.5% below the level of 2007. However, judging by the recent years of the trend in house prices in all districts of Portugal, the real estate industry shows that it will easily return to the old values.
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