Investment in real estate in Lisbon hit a new record, reaching €5.92 billion in 2018, according to the Confidential Real Estate (Ci).
Lisbon’s real estate continues to break new records. Last year, the investment in the Urban Rehabilitation Area (ARU) of Lisbon amounted to €5.92 billion, the equivalent to 13,150 transactions, according to data from the Confidential Real Estate (Ci). This represents a 38% growth in comparison to the previous year, especially in the areas of Avenidas Novas and Santa Maria Maior.
It is an “unprecedented investment value” in the ARU of Lisbon, which covers almost the entire city, excluding Parque das Nações, Lumiar and Santa Clara, Ci noted in a statement. Compared with 2017, the volume of investment soared 38% and went from €4.28 billion to €5.92 billion. The number of transactions, which stood at 10,880 in the previous year, increased by 21% to 13,148 transactions.
Most of the investment went into the residential sector, which accounted for 68% of the investment volume (€ 4.03 billion) and 84% of all transactions (more than 11,700). Compared to 2017, investment in housing was 2.85 billion euros and rose 42%.
Commercial and service related real estate accounted for 21% of the investment volume (€1.28 billion) and 12% in the number of transactions (about 1,500). The transactions of land were also noteworthy, having been “very dynamic, representing more than €100 million in 2018”.