The Portuguese capital received more than 578 million euro in real estate investment during the first three months of the year alone. And around 51% of that capital went to the retail segment in a single operation.
That operation was the sale of Sonae Sierra and APG Allianz’s shopping centre portfolio to Elo and it was particularly relevant because 3 of the 6 shopping centres are located in the Lisbon Metropolitan Area: Colombo, Vasco da Gama and CascaiShopping.
In terms of concluded operations, the office segment keeps leading, given that out of the 8 concluded operations, 6 were office operations. Nevertheless, offices represented only 27% of all investment allocated to the city during this period. The hotel segment seems to be following retail’s footsteps: the real hotels deal alone was closed for 125 million euro, representing 22% of all investment. As for the logistics segment – the current trendy segment –, it did not register any operation in Lisbon.
The data from the Lisbon Report, compiled by Iberian Property, shows that Lisbon started the year in good shape in terms of investment since the total investment for the first quarter is more than double that of the previous quarter as well as double yoy. Another indicator that shows this good shape is the average ticket per operation – around 72 million euro – which was much higher than that of the last 4 quarters – 43 million euro.
Nevertheless, the preliminary data concerning the second quarter compiled by Iberian Property already showed the real effects of the pandemic: a brutal drop in investment in the city.
All the information is available at the Lisbon Report from Iberian Property which can be downloaded HERE.
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Disclaimer: This information is based on public data gathered within the platform Iberian Property Data. All estimates were calculated based on registered public information and data from the main consultants within the market. It should be noted that the results presented here may be updated if new information is issued.