Portuguese deliver 15 houses a day to banking

Over 5500 real estate, in 2012, were given to financial institutions for failure to pay the claim. A number representing a decrease of 21% compared to 2011.

The difficulties in paying the contracted credits continues to take many Portuguese to hand over the house to the banks. According to figures released today by the Association of Professionals and Real Estate Companies of Portugal (APEMIP) in the last quarter of last year, 1,070 properties were delivered in payment, 3% less than in the previous quarter.

This number increased to 5,500 the number of properties delivered to banks accumulated in 2012. Ie, on average, the Portuguese surrendered properties by day 15 banks. This amount is, however, a decrease of 21% compared to 6,900 properties delivered to banks in 2011. This case, the average is 19 houses per day.

The first three months of this year resulted in a total of 2,300 dations in payment. However, the next two quarters and also the last quarter of the year showed a slowdown in the number of homes delivered by Portuguese financial institutions.

The “awareness of the seriousness of the problem by the financial sector” is, according to Luis Lima, president of APEMIP, the main reason for the decline in value of property delivered.

“In the first quarter of 2012, provision was made for a real collapse of the housing market, with a 74% increase in the number of properties delivered over the same period in 2011,” adds Luis Lima, in a statement.

The president of APEMIP, the balance of the year 2012 shows “as well as the financial sector came to view the phenomenon with another sensitivity, and therefore takes a closer role and concerned with their customers, and thereby creating a more favorable environment the renegotiation of loans that proved very important. ”

In addition to the families, the figures also include APEMIP dations in payment of property developers, who represent “a significant part of the total property delivered in 2012.”

“In towns like Sintra, Guimarães, Trunking, Montijo, Lagos, Valongo Figueira da Foz and Tavira, this reality [property delivered by people who invested in real estate promotion and development of new projects and ventures] represented in that year, approximately half, and in some cases more than half of the entire property in question, “the statement added.

In total, ie including families and property developers, data APEMIP, show that the metropolitan areas of Lisbon and Porto concentrated 31% of cases of payment in kind, in 2012.”