Property investment down 39% in first quarter 2023 

Property investment totalled €230 million in the first quarter of this year, down 39% on the same period in 2022, according to data from consultancy CBRE released today. This drop was due to greater market caution in the face of inflation, rising interest rates and economic and geopolitical instability. The amount fell 14% short of the real estate investment ascertained in the first three months of 2019, “which shows that commercial real estate in Portugal continues to be a very attractive market for national and international investors.” Of the total invested, 67% went to retail assets (€153 million), 14% to the logistics sector (€33 million), 16% to office assets (€38 million) and 3% to the ‘healthcare’ sector (€6 million). More than half (56%) of transactions were carried out in Lisbon and 83% of the commercial investment originated abroad, with the USA standing out, says CBRE.