Construction sector follows the dynamism of real estate
Construction of new buildings grows by 35% and rehabilitation by 17%
The construction in Portugal is showing signs of high growth, after a period of crisis, following the dynamism that has been observed in the real estate sector. According to preliminary data from the National Statistics Institute (INE), building permits for construction increased by 35.3 percentage points (+20.2% in the last quarter of 2016).
The permit for rehabilitation has increased by 17.3% (+11.6% in the fourth quarter of 2016). From all the building permits between January and March, 67% were for family housing. The 342 buildings that were demolished account for 7% of all building permits in the first three months of this year.
This growth has been felt nationwide, with positive year-on-year changes in building permits in all regions of the country. The most dynamic area in Portugal is Lisbon Metropolitan Area, which grew by 68.8 percentage points, in contrast to the Algarve, which registered a growth of 6.1%, indicating slower growth.
Regarding the construction of new buildings, licensing in the Metropolitan Area of Lisbon skyrocketed by 120%. Regarding the licensing for the rehabilitation of buildings, all regions of the country showed positive changes, with emphasis on the center (24.3%) and the north of the country (18.4%).
Famous in Portugal
Famous people around the world are already living in Portugal. Among the many factors are the security, the culture and the welcoming feeling.
Calculate Local Accomodation
If you wish to invest in Portugal, choose to transform a property into a Local Accomodation. Discover the profit rate and how to start your own project.
- Popular Recent