Century 21 Portugal real estate network’s turnover rises 47% to 45.7 million euros in the 1st half – Observer
Century 21’s Century increased 47% to 45.0% this year compared to the first period of 202 million revenues, with business of 1,807 million euros.
In the first six months of 2022, Century 21 Portugal recorded a turnover of more than 45.7 million euros, which shows an increase of 47% compared to the approximately 31 million euros reported in the same period of 2021. business that the network was in today. the real estate network in a statement.
Between January and June, Century 21 Portugal carried out 9,804 sales transactions, more than 40% compared to 7,008 in the same period last yearT2 and T3 stand out as “the types of properties most sought after by Portuguese families”.
The average value of properties transacted in the real estate network increased by 14% to 184,192 eurosagainst the year-on-year average of 161,371 euros.
Despite the level of unpredictability of the macroeconomic context, nationally and internationally, current housing sales prices maintain an upward trajectory in the current Portuguese market”, he notes.
As for the leasing market, in the first half of this year, 2,360 transactions were carried out, 38% more than the 1,708 transactions in the same period last year.
At the national level, the average income amount reached 1,038 euros27% more compared to the average of 817 euros in the average lease amount selected in the first six months of 2021.
Cited in the communicator, the executive president (CEO) of Compra 1 Portugal highlights that “the Century solutions with two levels of home demand, combined with the standard of housing supply, in line with the purchasing power of the Portuguese, continues to sustain a persistent price rises”.
The exception is the average in Lisbon, where the value of properties transacted in the first half of this year showed a negative evolution, with many families moving to the outskirts of the capital in search of houses in the first half of their income”, notes Ricardo Sousa. .
“The lease – he adds – begins to repair to pre-pandemic values, driven by tourism and by the many young people who choose to rent a house, taking into account the difficulty of complying with all credits and requirements for access to return to housing ”.
Analyzing in detail the metropolitan areas of Lisbon and Porto and the Algarve, where Century 21 Portugal registers “the overwhelming majority of real estate transactions”, verifying that, until June, the average value of a house transacted on the network was fixed at 293,037 euros in Lisbon (-3% year-on-year), at 203,496 euros in Porto (+15%) and 178,565 euros in the Algarve (+17%).
In the rental segment, the municipality of Lisbon presented an average rent of 1,170 euros (+15%), Porto reached an average rent of 1,022 euros (+23%) and in the Algarve this value was 735 euros (+9 % ).
According to Ricardo Sousa, these dynamics show that “they are the peripheral markets of Lisbon and Porto, like other secondary cities, can influence a current price risean effect that can also be seen in other more tourist and second-home markets, such as the Algarve and Madeira”.
For the CEO, “this area is a consequence of the lower rate of effort to buy a house in Lisbon, Oeiras, Cascais and Porto, taking into account the current offer of properties, with currently available for sale in these homologs”, it should be noted that the year-on-year comparison it is still conditioned by the pandemic and confinements, “which limits or significantly the rental prices”.
In the first half, the Century 21 Portugal network also carried out 1,863 transactions with international customers, an “exponential increase” of 69% compared to 1,102 carried out in the same period of 2021.
The weight of transactions in the international segment already represented 19% of the volume of transactions carried out in this real estate network, which demonstrates a reform of business with clients from other geographies and confirms that the Portuguese real estate market remains very strong, both for foreign investors and for clients of different nationalities who choose Portugal to live and work”, he highlights.
During this period, Century 21 also highlighted the “confirmation of the changes in the profile of international customers, with the USA remaining as a nationality, in those followed by France, the United Kingdom and Brazil”.
For Ricardo Sousa, “reduction in the level of unemployment, the accumulated savings of many families during, with low interest rates even considering the forecast increases – the available financing and the low weight of financing in the total volume of transactions – which currently the 50 of the factors that continue to be sustained by demand, combined with reduced ‘stock’ of properties available for sale”.
This context minimizes the effect of the levels of economic uncertainty that we are currently experiencing and gives us security regarding the behavior of the real estate market and some evolution of prices, in 2022″, maintains the president of Century 21 Portugal.
Even so, it is remarkable, it is “important to monitor well the impact of the geopolitical evolution of the war in Europe and of the international macroeconomic factors on the national one”.
From January to June, the Century 21 Portugal network now has 13 more branches, currently having 201 in operation and a unit of more than 3,700 real estate consultants and 250 credit intermediaries.