According to the consulting company Savillis, the real estate market in Portugal is rapidly recovering to pre-pandemic levels. In just the third quarter of 2021 this market has attracted investments amounting to 534 million €. And more than 80% of the corresponding investments were made by foreign companies and individuals, including applicants for residence permits in Portugal through investments.
Analyzing the market dynamics in the period from January to September 2021, the experts Savills came to the conclusion about the achievement of the turnover of 1.1 billion €. Analysts also expect that at the end of 2021 as a whole, this figure is close to 2 billion €.
According to the international consulting company, between January and September 2020, investment in Portuguese real estate reached € 2.278 billion, an increase of 39% compared to the same period in 2019.
According to the analysis, in January-September 2021 the office segment was the leader in terms of growth in demand. This segment accounted for 36% of the total investment in Portuguese real estate. At the same time, it is noted that the retail space sector was the most affected by the pandemic. Stores and other retail facilities accounted for only 8% of total investment in Portuguese real estate at the end of 3 quarters of 2021.
Experts note that 4/5 of the total number of transactions accounted for foreign investment, which came mainly from France, Britain and Spain. At the same time there is an increase in domestic investment: local investment funds and private investors are interested in purchasing products in the office and retail segments. Analysts expect that as the anti-epidemic restrictions are lifted, the investment appeal of the Portuguese retail real estate sector will increase.