In his opinion, the most immediate challenge to a higher market growth seems to be the scarcity of product available to both occupiers and investors.
These were, in fact, two of the main ideas extracted at the end of the meeting with the reporters promoted by the consultant this Wednesday morning, in Lisbon, to present the new Market 360º report.
Recalling that 2017 “was a new record year for commercial investment in Portugal”, the head of JLL Portugal, highlighted that “real estate is gaining market share as a class of investment assets. It is a worldwide trend and I believe our country will benefit from this phenomenon, even more at a time when it is increasingly known internationally”.
Looking at the major trends affecting the sector, Pedro Lancastre also drew attention to the fact that "in the past, were the people who went after the companies, but today it is the companies that go after the talent; being this the main vector that guides the demand of the great occupants of destinations for setting up their service centers. We believe that this is something that is already becoming structural, contrary to some critical voices that consider that the natural rise of office rentals will work as a dissuading factor in the search for this type of entities by Portugal”.
But to capitalize the potential of our country as a source of talent “we need more offices. And, as such, there is also a need for more public incentives on the part of both the local authorities and the state," he claims, suggesting that “there should be a program with a model similar to Reabilita Primeiro, Paga Depois for offices as well." In addition, he argues, "there should also be more residential leasing, and more positive discrimination for the promoters of this type of product on the side of local authorities."
Photo: HPF Photography