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Real estate investment in the historic centre of Lisbon rose in the first half of the year

In the first half of 2017, the historical centre of the Portuguese capital saw a growth of 17% compared to the six months previously. According to data released by Confidencial Imobiliário, which is based on the IPCHL (Price Index of the Historic Centre of Lisbon), in the last half of 2016, the total sales between January and June 2017 were 296 million euros, which amounts to an investment volume of € 345 million.

During the first six months of this year, 898 properties were sold in the historic centre of Lisbon, including buildings, plots, and retail premises.As a result of these sales carried out between January and June 2017, the volume of investment rose by 49 million euros, which is equivalent to a 17% growth over the previous six months.

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Although the value obtained from the sale of real estate shows this increase, in relation to the actual sales volume, i.e. the number of properties sold, we can see that it did not change significantly. In fact, between July and December 2016, there were 889 properties sold. been sold. This means the rise in real estate investment is not associated with a higher number of sales but with investment in higher priced properties.

Although the increase in real estate investment in Lisbon's historic centre between the second half of 2016 and the first half of 2017 is undeniable, this scenario does not hold up when we consider the relationship between the first six months of this year and those of the previous year.

In fact, there was a drop compared to the same period, both in terms of assets transfer and the volume of investment made. It is, however, necessary to to take into consideration the fact that the number of sales in the first half of 2016 made the highest impact on the sector since 2013.

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The analysed indices also took into account how the real estate valuation progression has been taking place in this region of Lisbon, considering that there is a tendency for equity appreciation. This was an increase of 14% over the previous half and a growth of 26% when considering the homologous period in 2016. These figures, therefore, coincide with the trend that has been taking place since 2014, when prices rose by 67%.

The price rises in the historical centre of Lisbon as well as the increasing real estate investment are proven by the figures released from the company, Confidencial Imobiliário.

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