> For the complete documentation index, see [llms.txt](https://housing-base.journalismarena.eu/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://housing-base.journalismarena.eu/access-to-housing/media-stories/2018/urban-renewal-a-business-producing-millions-in-lisbon-and-porto-25-february-2018.md).

# 'Urban renewal: a business producing millions in Lisbon and Porto' (25 Feb 2018)

* **'Urban renewal: The crazy business that is producing millions'**
* By Vania Maia and Paulo M. Santos. Published in Exame, in Sapo, on 25 February 2018
* Original headline in Portuguese: *Reabilitação urbana: O negócio louco que está a dar milhões*
* <https://visao.sapo.pt/exame/2018-02-25-Reabilitacao-urbana-O-negocio-louco-que-esta-a-dar-milhoes/>
* **Summary** (from Google Translate):
  * In 2017, the real estate investment achieved through gold visas in the Portugal was €771 million. About €743 million corresponds to the purchase of properties with a value equal to or greater than € 500,000, and close to €27 million to the purchase of properties for rehabilitation with a value equal to or greater than €350,000, according to the Foreigners and Borders Service.
  * The Chinese continue to be the ones that most seek this type of investment. **International investors were responsible for buying 25% of the homes sold last year**. In the case of the BWA Group, the customer portfolio is divided in half between foreigners and Portuguese.
  * **Many want to monetize the real estate they already have, but do not know how**. “They are people or institutions that don't understand anything about construction, but they have a lot of money”, explains Carolina Janeiro, 35, director of the company's project management department, created two years ago, when they realized this market need.
  * **Between 2013 and 2018, property prices increased by 56% in the historic centre of Lisbon and by 88% in downtown Porto**.
* **Regulatory levels**: local (Lisbon, Porto), national (Portugal), EU
* **Keywords**: Lisbon, Porto, Portugal, renovation, investment, foreign investment, corporate landlords

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The article highlights the fact that in 5 years, **between 2013 and 2018, property prices increased by 56% in the historic centre of Lisbon and by 88% in downtown Porto**.
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