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140 Growth: Brazilians seek real estate in Portugal amid election runoff.

140 Growth: Brazilians seek real estate in Portugal amid election runoff.

140 Growth: Brazilians seek real estate in Portugal amid election runoff.

The results of the first round of elections in Brazil and the possibility of a victory for Jair Bolsonaro have led to an increase in demand for luxury real estate in the Portuguese market. In the first three days of last week, agency Vou Mudar para Portugal noticed a 140% increase in demand compared to a normal week.

The majority of these requests are related to concerns about the outcome of the presidential election. The head of the company, Patricia Lemos, said there had been a lot of requests for apartments, especially in Lisbon, this week. 'Portugal had a holiday (Republic Day) on Wednesday and we had to work during the weekend because of the large number of people looking for information,' she said.

Brazilian citizens' thirst for real estate in Portugal can' 'measure on the launch of a new apartment complex in Oeiras, a suburb of Lisbon, last Tuesday.

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In one hour, all the one-bedroom apartments were sold, with most of the buyers being Brazilians. And the prices aren't the most attractive. They range from R$1.34 million (for a one-bedroom) to R$4.11 million (for a four-bedroom). But the property won't be ready until 2025.

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Irina Nikolaeva

Sales Director, HataMatata