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Half of homes in Portuguese capital on sale sold in less than six months

Xinhua, September 13, 2016 Adjust font size:

Half of homes in Portuguese capital Lisbon were sold in less than six months between the second quarter of 2015 and the first quarter of 2016, according to a statement released on Monday by Portuguese housing market publication Confidencial Imobiliario.

During the period of 12 months, property companies integrating the System of Residential Information reported a total of 6,746 homes were sold in the metropolitan area of the city, according to the publication.

Around 20 percent of homes were sold in less than three months and 35 percent in less than six months.

Ricardo Guimaraes, director of Confidencia Imobiliario, said these figures reflected a growing demand in properties and at the same time a lack of offers compatible with potential demand.

According to another recent study by Confidencial Imobiliario revealed in June, the price of homes in Portugal rose for 10 consecutive quarters, compared to the homologous period. The sector grew 6.9 percent compared to the same period last year and 1.8 percent quarter-on-quarter.

The Portuguese government is optimistic that the economy is picking up and expects the budget deficit to fall below 2.5 percent this year. Endit