In the last two years (2017 and 2018), Oporto registered 5,666 homes under licensing process; a volume distributed over 830 residential projects. Porto remains the second municipality with the largest residential pipeline in the country, followed by Lisbon, whose portfolio in this two-year period totalled 7,517 out of a total of 876 projects.
Confidencial Imobiliário verifies the data contained in the Pipeline Imobiliário database. This statistical system is based on energy pre-certificates issued by ADENE. The pre-certificates are issued at the project phase and must be part of the municipal works licensing processes (except for minor rehabilitation or works in classified buildings). This source therefore covers the entire universe of new works in new promotional launch and rehabilitation.
Rehabilitation is the predominant type of pipeline housing project in Porto, concentrating two thirds of the projects accounted for in these two years (66%, i.e. 550 projects) and about half of the homes (51%, 2887 units). The new construction thus generates 2,779 homes spread over 280 projects.
In terms of typologies, it is the small homes (studio and one bedroom apartment) that are predominant in the pipeline under development in the municipality. These cconcentrate 62% of the units in the last two years, which is not unrelated to the fact that almost half (42%) of the entire portfolio of the county in this period is focussed on the Baixa and Centro Histórico.
“This is the axis of greatest tourist bias and where residential investment has tended towards typologies that respond more effectively to short-term use, ie smaller ones. Here, the studios and one bedroom apartments are three quarters of all the apartments that have been licensed during the last two years ” explains Ricardo Guimarães, director of Confidencial Imobiliário.
In the geographical segmentation of this pipeline, in the accumulated two years, the Historic Centre remained as the clear destination for housing investment in Porto (42% of the registered homes), followed by Paranhos, Bonfim and Marginal, with shares of 10% to 14%; and Ramalde, Foz and Campanhã with shares of 5% to 7% in housing development..
ANALYSIS BY CONFIDENCIAL IMOBILIÁRIO
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