Portugal set for record property investment
Portuguese real estate is in the midst of a record-breaking boom according to Reuters and property management consultancy Jones Lang LaSalle.
In 2017, commercial real estate investment peaked at €1.9Bn. And forecasts for 2018 are even better. While investments are expected to reach at least €2.5Bn, the market’s current dynamism could see that level hit close to €3Bn.
With Portugal’s 2011-14 debt crisis now firmly behind it, signs of an economic resurgence have boosted confidence in the country’s real estate market among both domestic and foreign investors. GDP growth for 2017 was revised up from 1.8% to 2.6%, with public debt and the budget deficit continuing to shrink. Unemployment, which hit 17.5% in 2013, has fallen to 8.9%