Property investment in Portugal reached 1,230 million euros in the first half of this year, reflecting a year-on-year rise of 78%, according to CBRE data. In a statement, the consultancy said that "commercial property investment in Portugal continues to show clear signs of growth in 2025", according to Lusa.
CBRE puts this rise into context with the fact that the first half of 2024 was still conditioned by the effects of rising interest rates, reflecting more contained levels of investment. Despite the recovery seen throughout the year, performance in the first six months continued to lag behind the second half, which helps to explain the significant year-on-year variation now recorded.
On the other hand, "the first half of 2025 saw a significant volume of investment, driven by a series of high-value transactions in the retail and hotel sectors - which, for three years now, have been the main drivers of investment in Portugal," said CBRE in the same note.
It should be remembered that at the beginning of the year, the consultancy anticipated that the property market in Portugal would maintain its growth trajectory, forecasting an increase in the number of transactions and a volume of investment that could reach 2.5 billion euros, which would correspond to an increase of 8% compared to 2024.
However, "based on the strong performance recorded in the first half of the year and the projects currently being commercialised, we anticipate that, with high probability, the volume transacted in 2025 will exceed the initial projection, translating into higher growth than initially estimated".
According to CBRE data, over the last decade more than three quarters of investment in Portugal has been "carried out by international investors". Following the launch of a series of surveys, there was "a return of optimism in the European property investment markets, as more than 90% of European investors expect to maintain or increase their acquisition activity this year".
"The first half of 2025 confirms the sustained attractiveness of the commercial property market in Portugal. Investors continue to bet on segments with solid fundamentals, such as retail and hospitality, and benefit from more favourable financing conditions. Greater national liquidity and European prominence reinforce confidence in an even more dynamic second half of the year," said Francisco Horta e Costa, Managing Director of CBRE Portugal, in a written statement sent to Lusa.
