In the first 6 months of 2015 the Algarve was the country’s most searched area in ERA Portugal agencies, for the purchase of houses by foreign customers. 60 percent of these buyers, mostly French and English, chose to buy a villa and invested, on average, 250 thousand euros, generally paid in cash.
The real estate sale to foreign customers represents already 20 percent of the total of ERA Portugal sales, which, in this year’s first six months, sold 4,000 homes, totalling 513 million euro that resulted in a billing increase of 36% regarding 2014’s homologous period.
Cascais, Lisbon and Oporto are other areas selected by foreigners to invest in the country. In the first case, clients chose villas, whereas in the capital and in Oporto, the option falls to apartments.
Inside ERA network, Faro was the third most dynamic district in this first semester, representing 8 percent of the total billing.
Miguel Poisson, CEO of ERA Portugal, refers that “the real estate market is recovering and the proof of that are the results reached by ERA. This first semester, and especially the month of June, were the best ever since the brand arrived in Portugal, in 1998. The investment increase from foreigners, the increased confidence, and also the bank’ availability to concede credit have strongly contributed for these results”.
For more information regarding property for sale in Portugal, please visit www.era.pt.
W: www.era.pt
