As «a facilitator of first contacts», in a very positive investment context, Invest Lisboa believes that all is not yet done. After 25 participations in international fairs over the last 9 years, a “much needed action”, it considers that we have to keep promoting Lisbon and the country collectively: “we learned at these international forums that we are very small and we have to work together in order to promote ourselves”, mentioning as examples Seixal, Montijo or Porto.
For Albert Castro, from MIPIM, another Meet Up, organizer «just at MIPIM there are around 500 investors interested in Portugal. The fair is a great opportunity to network and to expand internationally so that the market agents can invite these interested parties to visit the country”, he also highlighted the fact that in the next meeting, the Portuguese Conference will be held, boosted with Iberian Property.
“There is more confidence and more business”
There is more confidence in the Portuguese market these days. The investors “trust the national economy, the real estate market in general, and particularly Lisbon, which is more trendy” noted Jorge Bota, from B. Prime.
Framing the market, he alerted for the reduction in the office stock, one of the most dynamic segments within the sector, where “the pace in activity and placement is clearly positive and shows no signs of slowing down”. In general, and after an unprecedented quarter, he calculates that the level of investment might reach, by the end of 2018, 2.500 million euro.
Luís Carita, from SILVIP, explains that the institutional investors “react to macroeconomic indicators and feel that the BCE futures may raise the prices of other types of assets, they will want to reduce their exposure and will keep their core assets. But the family offices still have that interest in the country».
Merlin Properties, is an example of that interest. Representig the Spanish real estate investment trust, João Carita explains that the company is undertaking a project for 300.000m2 of logistics areas in Castanheira do Ribatejo, besides several investments in offices, shopping centres and street commerce. He believes that “the market will keep growing”.
The dynamics is also clear in the residential market. José Almeida, from Confidencial Imobiliário, explains that «the level of prices is 5,1% above the market’s peak level, but in reality the residential market is 9% below 2017’s peak”. But the realities are very different: “there are many and very different residential markets”. And in the capital prices “have been rising at a very considerable rate since mid 2015». This growth has been decelerating and stabilizing. There are also more licensing processes. There are 150.000 dwellings at the pre-licensing stage in the country, according to Ci’s calculations.
Organised by Iberian Property, this event is part of a set of sessions which will take place, besides Porto and Lisbon, in Madrid, Bilbao and Barcelona. The Meet Up Lisbon had the support of Invest Lisboa, MIPIM and B. Prime.