Commercial real estate investment in Portugal exceeded 1.1 billion euros through September
Worx's analysis estimates that 70% of the national investment made in the first nine months of the year were operations above 50 million euros. It anticipates yet records for the sector this year.
The Commercial real estate investment surpassed the 1.1 billion euros mark in the first nine months of the year, according to an analysis by the consultancy firm Worx, which estimates that the segment will break records this year.
According to the consultant, there will be a stabilization of liquidity levels in this segment, which will remain focused on prime assets, highlighting the fact that 70% of national investment was composed of operations more than 50 million euros.
For the office market, in a total of nine months, the absorption volume was 136,008 square meters, which represents an increase of 6% compared to the same period of 2018.
“The market will remain high, driven by the growing entry of international companies in the Portuguese market, by the need to expand and change the facilities of companies that see their activity grow or seek to upgrade their current working conditions,” says a note from Worx.
The scarcity of supply will continue to be a reality until the end of the year, which is a major obstacle to maintaining the dynamism of the office market and places the emphasis on preleasing operations with regard to the occupation of large areas, adds the consultancy’s research department.
According to Worx, the prime rental values will continue to see room for improvement.
In terms of the retail sector, of the sample surveyed by the consultant, in the city of Lisbon about 160 new commercial spaces were opened, mostly dedicated to restaurants.
In the industrial and logistics segment, there are “signs of a turning point”, although very mild, she says.
“The expected increase in e-commerce and the need to speed up delivery times will increase the demand for logistics spaces near urban centers”, says the consultant.
For the tourism sector, the consultant states that Portugal will continue to assert itself in the luxury tourism market, through greater product differentiation, investing in new concepts and specialized market niches that can attract markets with greater purchasing power.