Portuguese hotels lead real estate investment
Confirming the remarkable increase in real estate investment in Portugal, a new report by Colliers International highlights the importance of the Portuguese hotel market in the success of the sector that it currently dominates.
According to this report, the Portuguese hotel market is in a prosperous development phase in which the interest of international investors does not seem to slow down. In numerical terms, investment in Portuguese hotels already exceeded 500 million euros in the first half of 2019 alone, representing up to 30% of total investment so far. This figure is well above the respective European average which, despite growing by 3%, is only 8% of the total.
As it should be, Lisbon and Porto are the two cities that most attract investors, concentrating more than 60% of their investment in Portuguese hotels. In addition to the good indicators of these two urban centers, a not-so-new interest in the Algarve is beginning to emerge. After two years of few transactions, the region now presents a scenario of growth even if not steep. According to Colliers, the bet in the Algarve is promising as it is expected that this could become a tourist focus for sporting, health or wellness events.
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Source: (Diário Imobiliário, 2019)