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Industry revenue of “buying and selling of own real estate“ in Portugal 2011-2023

The revenues of the Portuguese ‘buying and selling of own real estate’ industry grew from 3.2 billion U.S. dollars in 2011 to 4.3 billion U.S. dollars in 2019, owing to the favorable governmental policies, low inflation rate, an improving economic situation and growing office real estate in commercially important cities like Lisbon. The sector reached its peak in 2017, touching revenues of 5 billion U.S. dollars, as the buying index activity hit its record level, owing mainly to high foreign investments. In fact, according to clbrief.com, Chinese investments alone amounted to over 306 million euros for the calendar year 2017-18.

Initial projections for 2019-2023 demonstrated a 14 percent growth. However, with the outbreak of the Covid-19, it seems rather far-fetched, as the economy is expected to experience a slowdown in the medium term. As of now, no new transactions are being initiated and a majority of the on-going ones have been frozen. Foreign investments from countries such as China, which had been rising steadily over the last few years, are also expected to take a hit, thereby further impacting sector performance.

Industry revenue of “buying and selling of own real estate“ in Portugal from 2011 to 2023

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Source

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Portugal. The industry “buying and selling of own real estate“ has the code “L681“.

Details on the methodology can be found here.

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