Real estate investment climbs 39% to September
The volume of investment in the Portuguese real estate sector stood at €2.2Bn between January and September, an increase of 39% on last year according to Savills Portugal.
“The office and retail sectors stand out towards having achieving this result, which comprise 76% of the total volume of investments seen to the end of the 3rd quarter of 2020,” states a Savills communiqué.
Savills Portugal also emphasises the nature of the investments and investors which in Portugal have been similar over the past few years, with overseas investment dominating, registering for the period under analysis 81% of the total investment volume.
Among the more interesting investments in the office sector, but closer to home, took place on the island of Madeira where it was announced that the authorities would launch a ‘Digital Nomad Village’ called ‘Ponta do Sol’ to attract digital nomads to the island.
The project from Startup Madeira and the Regional Government is thought to be unique in the world in attracting digital and remote workers to the Digital Nomad Village.
Situated on the South coast of the Madeira Island, Ponta do Sol has about 8,200 inhabitants in its area of 43.3 km2 and is “considered the hottest municipality of the island.”
The village will have the perfect conditions for sun-seeking nomads looking for a peaceful lifestyle surrounded by natural beauty and close to the sea, while excellent internet access should attract digital nomads from all over the world.
“We are expecting a very positive impact for the local economy by attracting these professionals who have high salaries and who can help boost local businesses during the tourism low season,” say the island’s authorities.