In the real estate sector...
Investment in real estate should exceed one billion euros in the first half.
After 2018 has been the year of all records in the sale of real estate, 2019 will bite you in the heels. And it does not exceed the historical maximums because there is no offer that arrives.
According to the analysis of the consultant CBRE to the market trends for 2019, the year that has now begun has conditions to be the second best ever. By the end of June, sales are expected to reach 1 billion euros, the consultant estimates. By the end of 2019, the value should be between two thousand and 2.5 billion euros.
In 2018, real estate income hit the mark of 3.5 billion euros, 54% more than the previous year. The average for the last 15 years was € 1.1 billion.
Looking at what has already been sold at the beginning of the year, what is already in commercialization and what we know is off market, it is easy that at the end of the first half the volume of investment reaches or exceeds the billion euros, which would make this a better year than 2018. The only reason why 2019 will not be a record is that despite there being already strong promotion of core product, this product will only be sold in 2020 or 2021.
According to CBRE forecasts, in 2019 the star sector of the investment will be the hotel sector, where there are already several operations in excess of 100 million euros, one of them well over 100 million. CBRE also predicts that 2019 will not yet be the year of the alternative sector, despite all the products that are already underway, such as student residences, hospitals and residential rental.
In a survey by the investor consulting firm, 38% said they had an interest in investing in real estate development, when "about 5 years ago they would not even look at the development market." Less encouraging are the investment figures made in Portugal, which in 2018 remained "well below" the level of 2007, the year in which the last peak of the market was recorded. In that year, Portuguese investment in real estate was more than 50% of the total. In 2018 the figure was set at 9% of the total invested, and there was even a decrease compared to 2017, when national investors accounted for 23% of the total.
CBRE estimates that the newly approved Real Estate Investment and Management Companies (SIGI) scheme, known as REITs out there, will give a new boost to domestic investment, but it will only begin to be noticed in 2020. Conversely, the rates of return on investment in real estate should remain stable, says CBRE. The offices and prime street trade should continue to yield about 4.5%, slightly less than the shopping centers (4.75%).