Remax closes 3rd quarter with turnover of €1.67M

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There were 18,701 transactions. 25% were from international investors.

Remax registered a business volume of 1.67 billion euros, related to 18.701 transactions, in the third quarter of this year. It is worth highlighting the capital, which accounts for more than a quarter of the network’s leases.

Between July and September, of the 18,701 thousand transactions, 25% were related to international investment, corresponding to 4,673 mediated deals. The Portuguese were the ones who bought or rented the most houses (75%).

In the period under review, Brazilians reinforced their second position among the foreign investors that most deal in real estate (7.6%), followed by Angolans (1.9%) and North Americans (1.7%). In terms of transactions negotiated per municipality between July and September, the three municipalities where the network has the highest number of transactions are located in the Lisbon district.

Lisbon leads the top-10 with 2,280 transactions, 12.2% of the total recorded by Remax. This is followed by Sintra (6.5%), Cascais (3.4%), Oeiras (3.3%), Almada (2.6%), Amadora (2.5%), Braga (2.4%) and Odivelas (2.3%). In 6th and 10th positions, respectively, are the municipalities of Porto (2.5%) and Vila Nova de Gaia (2.2%), belonging to the metropolitan area of Porto.

Apartments and villas – the two types of property that Remax sold the most

Apartments and villas are the two types of property that the network sold the most in the third quarter of 2022, representing 54.1% and 27.6% of the total, respectively. Two bedrooms (44.0%) were the most sought after types of apartments sold, followed by three bedrooms (33.9%), one bedrooms (14.6%) and other types (7.6%). About 8.8% of the properties negotiated in this period are land, 2.7% are stores, 1.5% are farms, and 5.3% are other types of property.

Growth in the number of professionals and organizational structure

In 2021, the real estate network had 375 branches and 9,742 consultants. In 2022, the number of agencies increased compared to the same period in 2021 (5.1%), and now counts 394 agencies. With regard to the number of agents, the growth was 4.7%, and the real estate company recruited more than 461 consultants in just three months of this year, registering 10,203 professionals at the end of September, which attests to its dynamism in the sector.

“In a year marked by a difficult international environment and an increase in inflation and interest rates, this 3rd quarter has shown the strength and robustness of the Remax brand. The network has maintained the highest levels of customer satisfaction, as well as demonstrated a strong dynamic in the domestic market. In fact, in addition to organic growth (more consultants and more agencies), the network to be responsible for almost 19 thousand transactions in just three months, in a market where there is a substantial lack of supply of housing and where demand has been experiencing some decreases, proves its leadership,” reads a statement.

The real estate network also foresees for the last quarter “added challenges, particularly by intensifying the shortage of supply and a fearful demand in the face of rising interest rates of reference.

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