Property investment in Portugal to reach €3 billion
Investment in the Portuguese property market is expected to reach €3 billion in 2019 by the end of the second half of the year, according to consultants CBRE.
Portugal’s investment market was fairly dynamic throughout the first half of 2019 and will continue to be buoyant in the second half, according to CBRE’s Research Department.
Francisco Horta e Costa, Managing Director of CBRE Portugal, said that investment levels in 2018 stood at around €3.5 billion and that it was unlikely that this kind of record figure would be repeated in 2019.
However, CBRE projections are today higher than they were at the beginning of the year, pointing to an investment turnover of €2 billion to €2.5 billion forecast in January 2019. If these forecasts materialise, then by the end of the second half of 2019 Portugal will have enjoyed its second best year in terms of real estate investment in Portugal and the fourth year in which values exceeded €2 billion.
For the first time ever, the hotel sector was the area which attracted the highest slice of the investment pie in terms of capital (39%), spurred by investor interest in less traditional sectors and which are more risky in terms of operational costs.
Article by Essential Business – www.essential-business.pt