With emphasis on the real estate market
In 2019, the national economy alongside the logistics, retail, investment, office and tourism sectors will make the Portuguese real estate market even more attractive to foreign investment.
For this study, WORX confirms the trend of higher incomes in the Offices due to the high demand and the scarcity of supply. Luís Araújo, President of Turismo de Portugal, underlines the dynamism of the tourism sector in Portugal, which is attracting foreign investment. Jorge Salvador Gonçalves, a partner at Garrigues, focuses on the importance of Investment and Real Estate Management (SIGI) companies to raise real estate investment.
Retail and office responsible for 68% of commercial real estate investment of the best year ever
The retail sector was up in 2018, assuming a leading position, having raised 1.4 billion euros of total investment, compared to 742 million in 2017, largely due to the high amounts achieved with the transactions of the centers commercial and retail parks.
Given that it is difficult to create new portfolios of the same size and also considering the value of 2018, where the hotel sector received the largest share of the total investment, WORX believes that the purchase / sale of represent the largest proportion of commercial investment in 2019.
Luxury tourism in Portugal will consolidate in 2019
Regarding the tourism sector, the market study concludes that Portugal will continue to establish itself in the tourist market. The middle class will continue to have a major impact in the sector, being the luxury market, a strong bet on the differentiation of products and attraction of markets with greater purchasing power. The opening of 22 hotel units in the categories 3 *, 4 * and 5 * confirmed the vitality and dynamism of the sector in 2018.
Luís Araújo, President of Turismo de Portugal, affirms that "Tourism has never been so dynamic and has had an impact on the national economy as it does today. It represents 13.7% of the national GDP and is the country's largest exporter of services (50.1% ) and we are growing in the whole territory. By 2019, the objective is to continue to grow in value and create the conditions necessary for tourists to want to stay longer, to know more about the territory and to have experiences that make them return, not only for visit how to live, invest and create companies ".