The numbers are from Cushman & Wakefield’s quarterly analysis, and show that this was the most dynamic sector, representing almost 50% of total investment. The biggest deal of the year was the sale of LeiriaShopping, by Sonae Sierra, to a fund managed by German REEF, for 128 million euro.
On the other hand, offices concentrated 39% of all investment, with 266 million euro traded, including the sale of the Art’s Business Centre and Torre Fernão de Magalhães portfolio for 112.5 million euro to Merlin Properties. The industrial and hotel sectors concentrated, together, 10% of investment.
Real estate is waiting for the economy slowdown’s impact
In general, until April, the real estate market kept showing a positive evolution, despite the Portuguese economy having started the year showing some signs of a slowdown. C&W expects some slowdown in activity growth, which should manifest slightly on the demand dynamics and more intensely on the market prices.
Marta Esteves Costa, Partner and Head of Research at C&W, comments that «we are not expecting a reversal of the strong growth cycle we have been experiencing since 2014, but we are convinced that the slowdown in the economic growth will have its impact on the real estate market. We should point out that our expectations are not of a fall, but only of a slowdown in growth».