Thirty-six new residential projects totalling about 400 dwellings were submitted for licensing in Lisbon during the first two months of 2021. The figure reflects a marked slowdown in activity compared to the same period in 2020 when 77 residential projects totalling 620 dwellings were registered. Between the two periods, there was a decrease of 36% in the number of homes and 53% in the number of projects.
The data stems from the Real Estate Pipeline, as calculated by Confidencial Imobiliário based on ADENE – Energy Agency’s energy pre-certificates. The pre-certificates are issued during the project phase and must be part of the municipal licensing process (except for minor refurbishments). This source covers, therefore, the gamut of new construction in new development and rehabilitation.
The greatest fall was recorded in new construction, with six new projects and 110 dwellings in 2021, a fall of around 60% compared to the number of homes licensed in the same period in the previous year. Refurbishment contributed 30 new projects to the pipeline, totalling 290 new homes, 15% less than in 2020.
Confidencial Imobiliário’s report shows that the activity lost momentum in Porto compared to the same period in 2020, although less markedly. Until February, the residential pipeline in Porto amounted to 62 projects totalling approximately 430 homes, with the number of dwellings submitted for licensing dropping 7% (460 in 2020) and the number of projects dropping 13% (71 in 2020). New construction generated 16 projects and 180 dwellings for the pipeline, while refurbishments contributed with another 46 projects and 250 dwellings. New construction lost pace in Porto, compared to 2020, with a 38% drop in the number of homes. On the other hand, rehabilitation was more dynamic, accounting for a volume of dwellings in the pipeline 43% above 2020.