Investment
Rehabilitation falls to 6%

In the first six months of 2019, 4,195 properties resulting from 1,743 rehabilitation projects were licensed in Portugal, bringing the portfolio of this type of housing to 18,720 since 2017 (7,616 projects in the accumulated two and a half years). The data obtained by Confidencial Imobiliário in the context of the analysis of energy pre-certificates issued by ADENE (agency for the energy), show that, although showing a positive evolution, the investment in rehabilitation has been losing steam. Thus, although the pipeline of this type of projects in the first half of 2019 shows a 6% growth compared to the semiannual average registered in 2018 (3,949  units), this evolution is much less significant than the 19% increase observed in between 2018 and 2017. In the last year, an average of 3,314 rehabilitation projects entered in the pipeline per semester. Thus, considering the semiannual averages, if in 2017 the rehabilitation of properties weighed 22% in the total portfolio, in 2018 this weight decreased to 20% and in 2019 a further decline puts this type of work to concentrate 18% of the projects in pipeline.

It should be noted that energy pre-certificates are a requirement in the licensing of new or deep rehabilitation works (may be waived in restoration or restoration projects).

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