During the first two months of this year, in turn, municipal licensing registered a decrease of 0.9%, year-on-year, in the total number of licenses issued for new construction or rehabilitation works in residential buildings, AICCOPN also states.
As for the number of licensed dwellings in new constructions, it is noted that until March there was a decrease of 12.4%, year-on-year, for a total of 4,811 dwellings.
The volume of new housing credit granted by financial institutions, excluding renegotiations, registered a year-on-year increase of 26.1% in the first two months of this year, to a total of 2,321 million euros.
In February, the implicit interest rate on mortgage loans stood at 4.64%, which represents an increase of 2.11 percentage points, compared to the same month last year.
As for the median housing valuation value for bank credit purposes, in the month of February, there was an appreciation of 5.5%, year-on-year, in the face of variations of 2% in apartments and 6.1% in housing.
More cement means more houses/flats. This takes water. Many many properties are being built in the Algarve meaning more people living and visiting Algarve. No one has factored in how much and impact of this will impact upon our already threatened water supply.
By David Clark from UK on 01 May 2024, 09:57
Portugal cannot seem to move away from it´s outdated and generally unhealthy building methods. There are eco and healthier alternatives, these days.
Anyone planning a new-build, should seek out architects/builders who promote eco/natural materials in construction.
By Steve from Algarve on 04 May 2024, 09:50
I’m really surprised that “progressive” EU hasn’t stepped up its use of hempcrete. So much better than conventional cement in so many ways.
By MissIn4Mation from Lisbon on 05 May 2024, 07:49