PORTUGUESE RETURN TO BUY LUXURY PROPERTIES
Portuguese return to buy luxury homes after several years of crisis, during which there was a strong downturn in demand for the residential real estate segment. In 2015 the purchase of luxury homes has doubled in percentage, comparing to 2012.
An increase of turnover volume in Portugal data was released by Sotheby's International Realty - real estate agency specializing in the high-end segment properties. Foreigners account for 55% of the turnover by Sotheby's Portugal, given that the French and British citizens are the ones that invest the most. Brazilians are the third in a row.
According to Gustavo Soares, CEO of Sotheby's in Portugal, "The confidence climate is contributing to such return of national customers. If you go back to the most problematic years the real estate market faced recently, they [Portuguese] did not represent more than 20 to 25% of our turnover. "
As of such increasing interest, the company is preparing to open 5 new offices in the country and by the end of the year, it plans to open the office on the Madeira island.
Read more at Expresso.
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