Market Snapshot Zoom In Telheiras, Laranjeiras and Lumiar

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3 times more demand than supply

In the last year, there was a change in preference in terms of housing on the part of Portuguese families. The demand for larger typologies and outdoor space (balconies, terraces) increased.

There is a shortage of quality housing in these segments, with demand in these segments reaching 3 times above supply.

  • Larger houses, with more divisions: with parents telecommuting and children teleschooling, the need for more bedrooms/offices became evident. It is imperative to separate your work life from your personal life, and the living room is not a good place for an office. If before the trend was less and less space, more optimized so as not to encumber the final price, now the trend is the opposite;
  • Overvaluation of outdoor space: the confinement and deprivation of freedom to go out into the street has exacerbated the need for outdoor space, balconies and terraces. Before, selling an ground floor was a problem because of privacy. Today, if you have a good terrace, it is a virtue. Outer space is overrated.
  • Affordable prices: the overwhelming majority of buyers in this market use bank financing. It is essential that sales prices are in line with bank assessments, and that the installment to be paid is affordable for your income.
Demand vs Supply, by typology

As we can see in the chart above, according to RE/MAX data for the 1st quarter of 2021, demand for 3BR and 4BR apartments in São Domingos de Benfica, Carnide and Lumiar is more than 2 times higher than offer.

This report presents a particular analysis in some of the most popular areas for Portuguese families, and in the typologies where demand grew the most – 3BR and 4BR.

Areas covered by this report

Areas:

  • Alto dos Moinhos;
  • Laranjeiras;
  • Sete Rios;
  • Paço do Lumiar;
  • Quinta dos Alcoutins;
  • Telheiras;
  • Quinta das Conchas;
  • Top of Lisbon;

Typologies:

  • 3 and 4BR Apartments

Let’s analyze 3 variables:

  • Apartments available for sale: apartments available on the market for sale, in a certain period;
  • Average offer price per sqm: average price per sqm at which the apartments are advertised (asking price);
  • Average offer price: average price at which apartments are advertised (asking price);.

We also present the evolution of the price per sqm of transaction (closing the deal) and the sales volume.

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