Source: Freepik Author: Redaction According to the latest Financial Stability Report on the Insurance and Pension Funds Sector , released by the Insurance and Pension Funds Supervisory Authority (ASF), only 1 in 5 homes in Portugal are covered for seismic risk . As a result, only 19% to 20% of properties are protected by insurance that would allow them to recover from damage caused by an earthquake. The regions with the highest number of properties with this type of cover are the Algarve, Lisbon and the Tagus Valley and Porto , the first two of which are also the areas with the highest seismic risk at national level. The ASF report points to an uneven distribution of Seismic Phenomena (SF) coverage between the different councils, ranging from 3% (in councils such as Mafra, Cascais and Oeiras) to 36% (Barrancos, Penamacor and Almeida). This disparity highlights the need for a more equitable approach to the distribution of this type of coverage. The regulator also warns that this insufficient coverage could jeopardize the countrys ability to recover in the event of a seismic disaster: “ the probable loss of income for individuals combined with the need to reconcile the financing of the reconstruction of the property and the payment of mortgage credit could lead to high losses, with direct contagion to the financial sector” the report states. In other words, a catastrophe could lead to state intervention, given the lack of financing alternatives for the reconstruction of properties, a factor that could put pressure on the countrys “perception of credit risk”. In view of the worrying lack of seismic risk coverage, the ASF is promoting initiatives to create a national system of protection against seismic phenomena , including the proposal for a seismic fund. These measures aim to mitigate the negative consequences of a possible seismic catastrophe and reduce the pressure on the state to finance post-disaster recovery. This approach highlights the main points of the ASF report, from the lack of seismic risk coverage to the initiatives proposed to deal with this challenge. Follow these and other topics in SUPERCASA News
Source: Freepik Author: Redaction Portugal is celebrating half a century since the Carnation Revolution, a milestone that not only ended a long dictatorship, but also triggered significant transformations in the countrys housing scene. In the last 50 years, the number of homes in Portugal has more than doubled, providing a significant increase in the availability of housing for families . In addition, the quality of housing has improved considerably , with a drastic reduction in the lack of basic services such as electricity, piped water and sanitation. These improvements are testimony to the progress made in providing adequate housing for Portuguese citizens. However, despite the increase in housing stock, significant challenges remain. Finding a decent home remains an arduous task for many Portuguese, especially due to the shortage of supply and constantly escalating prices , making the housing market increasingly competitive. One notable change is the growing prevalence of vacation homes over main residences. This phenomenon reflects not only the evolution of the tourism sector, but also policies to encourage foreign real estate investment, such as gold visas. Despite the increase in the number of homes, the problem of empty homes persists , presenting additional challenges. The new government is proposing measures to address these challenges, including incentives for first-time home buyers and the rehabilitation of empty homes, but the implementation of these policies may encounter obstacles without a parliamentary majority. As Portugal celebrates 50 years of democracy, the issue of housing continues to be a central point of debate and action, highlighting the need for comprehensive and sustainable solutions to guarantee access to decent housing for all citizens. Read also: More than 273,000 pensioners would receive less than €278 in 2022 and Lack of labor causes construction costs to rise
Source: Freepik Author: Redaction Although house prices continue to rise in Portugal, at the end of last year there was a slowdown in most of the most populous municipalities compared to the previous quarter. According to data released on Tuesday by the National Statistics Institute (INE), the median house price rose by 7.9% compared to the same period in 2022, reaching 1619 euros per square meter. This represents a drop of 1.3% compared to the median price in the third quarter of 2023 , marking a reversal in the upward trend that had been in place since the fourth quarter of 2022, according to INE. All the municipalities with more than 100,000 inhabitants in Greater Lisbon, the Setúbal peninsula and the Porto Metropolitan Area, with the exception of Santa Maria da Feira and Gondomar, recorded median house prices higher than the national average in the fourth quarter. However, INE points out that there was a slowdown in house prices in quarterly terms in 18 of the 24 municipalities with more than one hundred thousand inhabitants , including the nine municipalities of Greater Lisbon. From the third to the fourth quarter, the year-on-year rate of change increased in six of the most populous municipalities , with the biggest variations in Maia and Vila Nova de Famalicão. On the other hand, prices fell in the municipalities of Porto and Lisbon, with the biggest drop at a national level in Funchal , among the most populous municipalities. Lisbon remains the region with the highest prices , with the municipalities of Cascais, Loulé, Lagos, Vila do Bispo and Oeiras standing out. INE also points out that in the Algarve and Greater Lisbon there are price differentials between municipalities that can exceed two thousand euros per square meter. Want to read more about housing? SUPERCASA News recommends: Minister says “supply shock” needed in housing and Lack of housing in the northern region: CCDR-N indicates solutions
Source: Freepik Author: Redaction One of the areas that can be most impacted by the metaverse is the real estate market, so it is important to keep abreast of what involves and implies this virtual space. The technological revolutions will occur more and more sharply in your day to day as a professional, so to keep as up to date as possible, we will let you know, in this article, what is this innovative technological concept. Imagine a digital universe where you can interact with other people, sell your properties, schedule visits and even create and establish relationships, network and contacts of potential customers. In a very simplified way, this is all that is possible to do in the metaverse that, through a personalized avatar that represents it, allows more direct interactions. What is the metaverse and what are the possibilities? We’ve already explained a bit of what you can do in the metaverse above, but to get an even clearer idea, imagine online gaming platforms like The Sims, which will offer some of the experiences that the metaverse promises. We talk about concrete social interactions in a 3D environment, which allow a lot of possibilities. Related to the real estate market, an experience in the metaverse can allow trade in virtual and physical products, including real estate. Through this digital space, you can take potential customers on visits and close deals with them, renting them a virtual space in the metaverse or even selling them a physical property in reality, being able to visit it in the virtual world. This type of visits comes to leverage the world of virtual visits, which begin to gain traction for those who are connected and have interest in this type of technology, and one of the biggest news of the year is the brand Virtual Tour by ego Real Estate , that was created with the purpose of facilitating the access of this technology to real estate professionals of all segments. The metaverse allied to the real estate market Imagine being able to explore a property in great detail, in a 360 degree experience, and without leaving the comfort of your home. This is the experience that the Virtual Tour offers you. Through this feature, integrated in the leading real estate management CRM in Portugal , you can: • Visit properties from a distance: explore homes, apartments and other types of properties anywhere in the world without having to move around; • Explore every detail: make a pre-selection of properties before scheduling in-person visits, saving time and money; • Make more informed decisions: feel like you’re really inside the property, with realistic images from all angles. The Virtual Tour is an extremely valuable platform for both buyers and real estate agents, offering a fully immersive experience that can change the way business is done in this sector. For buyers, it allows a more practical and efficient shopping experience. For sellers, it helps to value the property and attract more potential buyers, facilitating the work of raising, selling and even their productivity. The metaverse and the virtual tours are at their beginning , with an enormous potential yet to be explored, however, we can foresee, in the future, even more innovations. The Virtual Tour is just one example of how the metaverse is transforming the real estate market.
Source: Freepik Author: Redaction In a press release sent to SUPERCASA Notícias , JLL announces the launch of its latest residential project located in the picturesque region of Carvoeiro, in the Algarve - Lumina Villas . This new exclusive condominium consists of 58 townhouses and redefines the concept of living with elegance and comfort , through an unparalleled residential experience in the heart of the Algarve. Lumina Villas offers a variety of spacious units, ready to live, ranging from typologies T2 to T2 + 1, with 153 m 2 . Each villa is meticulously designed to offer the perfect balance between contemporary style and functionality, providing a living environment of true comfort. A distinctive feature of this condo is its commitment to the well-being and leisure of residents. It offers a wide range of amenities including a swimming pool, a bar, a playground for the little ones, 24 hour security and ample parking for greater accessibility and comfort of the residents. One of the most captivating assets of some of these villas is the stunning sea view, especially from the top floor. It is something rare soon very valued, especially in the Algarve, explains Patrícia Barão, Head of Residential at JLL, in the note received by SUPERCASA Notícias . This setting promotes a serene environment, so that residents can relax and enjoy the surrounding nature. The privileged location is also a highlight, since it is located a few minutes from Carvoeiro beach and the village center. Future residents of these unique houses will have easy access to a variety of restaurants, shops and recreational activities, he adds. With prices starting at 400,000 euros, Lumina Villas is a very attractive investment, both for those looking for a first home, and for those who want a second home in the Algarve . Read also: Office occupancy in 2024 more than doubled from 2023
Source: Freepik Author: Redaction The user licence was no longer compulsory after the new licensing simplex came into force in January of this year following a legislative amendment aimed at simplifying procedures and licences. However, there are records that this legislative change is causing problems, with several houses for sale on the market without a license , promoted by investment funds that acquire portfolios of bad loans to banks. From the beginning the diploma was criticized and dismayed, dropping the obligation of use licenses or technical sheets of housing in the sale of houses, leading the sector to react with criticism and warnings. First of all, it was felt a lack of consideration of families who want to buy a house, since, in this way, they can buy houses without a license, often being prevented from accessing housing credits. Still, the new legislation gave impetus to the real estate market, with more houses coming to the market to be sold, increasing the housing supply in Portugal . In the advertisements, the absence of the user license or the fact that the box has to be carried under simplex are indicated. Although there are several ads with these indications, there are many others that do not provide due information to potential buyers, creating the risk of having houses for sale without proper licenses, which has led to the Notaries Order (ON) to prepare to present a repeal of the standard , so that the transmission of the property with the municipal consultation, in order to know whether or not it is licensed, is again mandatory. Follow more topics like this: About 1.5 million PARI cases were initiated in 2023 , Real estate scams: what you should do to avoid this situation or New urban simplex is generating confusion in municipalities
Source: SUPERCASA Author: Redaction When you’re looking for a house, a lot of people don’t give up a garage . When you have a house with garage, you benefit from advantages that properties without this division can not guarantee you, namely parking spaces and extra storage space. In addition, having a garage is, nowadays, much more than having a space where you can fix your car or other vehicles, being an extra room of your home that you can organize the way you want. You can turn it into a workshop for your DIY, a dance or yoga studio, a gym or even a small, closed natural oasis where you enjoy quality time. Therefore, a garage is a huge plus and one of the most sought-after attributes. If you are looking for a home, and looking for one specifically with this feature, check out the 7 options that SUPERCASA brings you today and do not hesitate to contact the advertiser to schedule a visit! 3 bedroom apartment in Gondomar, Porto - 250.000€ Semi-detached House T2 Triplex in Nazaré, Leiria - 280.000€ House T6 in Sintra, Lisbon - 385.000€ 1 bedroom apartment in Grândola, Setúbal - 440.000€ Detached House T4 Duplex in Nazaré, Leiria - 465.000€ 3 bedroom apartment in Cascais, Lisbon - 573.000€ 2 bedroom apartment in Estrela, Lisbon - 950.000€ Discover also: Buy house in the coastal strip: 8 unmissable options
Source: Freepik Author: Redaction The lack of qualified labor is driving up the prices charged by the construction sector, which is failing to meet the increased demand for remodeling and rehabilitation works in the homes of the Portuguese, reveals an analysis of the Fixando service contracting platform sent to SUPERCASA Notícias , which surveyed dozens of companies in the sector. The construction industry in Portugal recognizes that the difficulty in hiring masons, carpenters, plumbers or electricians, creates barriers to companies in the sector, which result in an increase in the costs of its operation that, in turn, translate into increases in prices charged to customers. The trend, while there is no more skilled labor and falling prices of raw materials, will be the gradual increase in construction and remodeling prices, says architect and remodeling expert Ricardo Dias, from Torres Vedras. According to Fixando’s analysis, this shortage of construction professionals is limiting companies ability to respond to increased demand, which, in addition to higher costs , has also resulted in delays in construction. Fixando said that, since the beginning of the year, the requests received for housing works have increased 11% compared to the same period last year, and in 2023, the demand for these services had already grown 29% compared to the previous year. Justifying this increase in demand for renovations and rehabilitation works in the homes of the Portuguese, are the growing concern of families with energy efficiency, the need to adapt residential spaces to teleworking and also the interest in recovering houses for later sale , thus being strategic investments in the real estate market. The problem of energy poverty is very present in Portuguese families living in older properties. Cold and humid houses, without double glazing on the windows, with bad insulation, are very common problems that lead to a growing demand for requalification works , explains Alice Nunes, director of new business at Fixando, in the note to which SUPERCASA Notícias had access. She adds that the current high property prices have also motivated many owners to remodel houses for sale, with the aim of entering the real estate market, where financial return is guaranteed. On the other hand, t echnology is also influencing the growth of the sector, with the adoption of automated solutions and intelligent housing management systems . However, the integration of these technologies also presents challenges, especially in terms of cost. The new trend for Domótica and the implementation of intelligent systems, such as electric blinds or automated air conditioning, are essential requirements for construction companies. It is a panorama that requires us to adapt to new technologies and a continuous technical update to meet the expectations of a constantly evolving market. All this involves more costs for companies , says a manager of the construction company Atitude Benévola, Porto. Faced with these challenges, it is practically unanimous within the sector that investment in technical training and professional development in the construction area is an evident and urgent need. Partnerships between the public and private sectors can be fundamental to develop training initiatives that meet the needs of companies and that provide workers with access to quality training and specialization opportunities through the gaps in the construction , says Alice Nunes. Follow more topics like this in SUPERCASA Notícias : Building credit: what is it and how it works? , Will remodel the house? Know the associated expenses
Source: Freepik Author: Redaction The Bank of Portugal (BdP) released last Wednesday, April 17, data on the situations of default verified in 2023, which rose from 2022 with half a million families on the verge of default , noting difficulties in paying the house. In this type of situation, mechanisms for the prevention of default were activated, namely the PARI - Plan of Action for the Risk of Default , forcing banks to detect situations of greater risk in advance, and propose solutions to families to avoid non-compliance. According to the regulator, the number of PARI cases more than quadrupled in 2023 compared to the previous year, with banks reporting, on a monthly average, 123,400 PARI cases starting in 2023. In the Behavioural Supervision Report 2023 , the BdP indicates: the increase in the number of PARI started in 2023 is the result of the entry into force, at the end of 2022, of Decree-Law 80-A/2022, which established additional criteria and obligations for institutions to integrate credit agreements for their own permanent housing in PARI, a measure designed to mitigate the effects of the increase in interest rates . Thus, about 1.5 million PARI cases were initiated in 2023, which represents about half a million residential credit agreements, worth 32 billion euros. In addition to the PARI, there was another mechanism for the management of defaults to increase last year, the PERSI - Extrajudicial Procedure for the Regularization of Defaults , which registered, at the beginning of the year, almost 77 thousand cases in this area in housing credits, which represents an increase of 36.5% compared to 2022. Read also: 33% of house installment fixing requests were approved , Minister says it takes supply shock in housing or Banking received more complaints about housing credits in 2023
Source: Freepik Author: Redaction Miguel Pinto Luz, Minister of Infrastructure and Housing, admitted last Thursday, April 17, the need for a supply shock in housing, through a response that goes through a collective effort. We need to unite, the sector needs to be united in a pragmatic effort, he said, at the opening of the debate Public Housing Policies: Strategies and Solutions. In this context, he said that all together we can find solutions , referring to the public and private sectors, owners and individuals. On the measures proposed by the Government, Pinto Luz also stressed that a shock of supply is necessary, since only with more offer will it be possible to respond to this scourge referring to the lack of access to housing that is increasingly felt by the Portuguese population. He added that the solution will not be combated in a way congregated, not dogmatic, without ideological complexes, where everyone can contribute, leaving still an appeal not to rely on the current government for accusations and blame. Do not count on this Government for this game of passing blame [...] that everything that has been done in the past is wrong. No, a lot is fine, another has to be corrected, another has to be done differently and another has not been done at all , he said. Regarding the public offer of housing, he indicated that private initiative is essential for this supply shock that is absolutely necessary. Follow SUPERCASA Notícias for more current topics in Portugal
Source: Freepik Author: Redaction Crowdfunding is an innovative modality that allows companies to raise financial resources through the collaboration of a large number of investors, through a democratization of access to capital. It is a trend that has opened doors to projects that would previously be unfeasible, being extremely appealing to companies looking for new investments, especially in the area of real estate. For professionals in the area, crowdfunding emerges as a powerful tool, since it diversifies investments, captures resources for new projects and retains customers , and if you still have doubts about how it works, in this article you will find the main characteristics of this type of financing, applied to real estate, and its advantages. What is crowdfunding and how can it be applied to real estate? Real estate crowdfunding works as an online platform that connects investors looking for financing to real estate projects , and it is through this platform that they can allocate amounts, usually from € 50, and receive interest returns and/or profit participations from the project. Find out in which situations you can apply this type of financing. Financing of new ventures Crowdfunding can be applied to the realization of projects involving, for example, the construction of houses, apartments, commercial buildings, warehouses or other types of real estate. Remodeling and revitalization of real estate Crowdfunding platforms can be used to raise funds for the remodeling and revitalization of old properties in Portugal , which may contribute to the valuation of degraded areas, as well as the revitalization of urban centers. Land acquisition In this area, crowdfunding can be used to finance the acquisition of land, enabling companies and investors to acquire strategic areas for future projects . Projects of social impact Real estate crowdfunding in Portugal can also be used to finance projects of social impact, namely for the construction of social housing or for the revitalization of more vulnerable communities. Through the various types of possible applications for crowdfunding, there are also advantages for professionals in the sector, which translate into greater access to capital, diversification of investments, customer loyalty and increased visibility , because this type of platform not only allows diversifying investments, but also offers great visibility and helps to attract new customers and partners. It is especially appealing to small and medium-sized enterprises, which may have difficulty obtaining funding through financial institutions. In practice, crowdfunding can be applied by creating projects , which should be disclosed, and choosing one of several crowdfunding platforms. Consolidate your presence in the market through the knowledge of other tips related to the real estate market: Tangible and intangible brand: understand and boost your brand , Have a business? Meet 3 trends in marketing and Real estate speculation: know this concept
Source: Freepik Author: Redaction It was last Thursday, April 18, that the president of the Commission for Coordination and Regional Development of the North (CCDR-N), António Cunha, defended the need to assess demographics, migratory flows, employment or spatial planning to solve housing problems . It is not possible to solve the housing problem [in Portugal] without considering demography and migratory flows, employment and social security, spatial planning and the urbanity of our urban agglomerations, said António Cunha. Thus, from the perspective of the committee leader, the challenge requires the recognition that in the North coexist social contexts of great diversity , where vulnerabilities and inequalities emerge with characteristics and intensities that are also different , leaving the exception that the region presents a housing stock where own housing predominates, and the residual lease and insufficient provision of public housing . One of the challenges of the PROT-Norte program is precisely A more inclusive, fair and equitable North for all, which should go to public discussion in the second half of this year. António Cunha also recalled that the difficulties and vulnerabilities of access to the housing market have been accumulating, affecting families with lower incomes, such as intermediate incomes: in a context of marked spatial, economic and social differences, as in the North, today it is absolutely essential to develop integrated territorial approaches that allow the use and use of existing resources, also seeking to promote inclusive, integrative processes and at different scales: national, regional and local . Thus, the challenge is to improve access to living conditions and housing itself , with the leader pointing out that it is a central challenge of territorial policy, in that it is urgent to counter existing socio-economic inequalities, having as reference the principles of territorial cohesion, equity and spatial justice. There is a territorial contrast in terms of housing, with areas (such as the metropolitan agglomeration and the main urban centers in the northwest) where access to adequate housing to household income is increasingly difficult, and others (as is the case with the lower density interior areas) with good access, but poor habitability conditions , he explains. And it ends: at the same time, we have to recognize that public policy in support of housing itself has encouraged new construction and fostered suburban expansion, neglecting proximity to the workplace and services of general interest and, consequently, increasing flows workhouse, the almost always inadequate use of public transport and increased use of the car itself, not contributing to the improvement of people’s quality of life . Follow these and more themes in SUPERCASA Notícias
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