Porto had in 2018 one of the best years in the real estate sector. A situation that was visible in the various market segments - from housing, to commerce, hotels, offices and industrial - but where there was also a strong bet on the investment component. A dynamism that leads the professionals of the market to consider that "Porto is the city of the moment".
The dynamics of the real estate sector is visible especially in the center of Invicta, where the rehabilitation of buildings, mainly for the hotel, Local Accommodation (AL), but also for luxury housing, is now even more significant.
This situation was mainly due to the growing tourist demand for the city of Oporto, which has allowed several awards to be awarded in recent years, highlighting the "Best European Destination 2017", awarded by the European Best Destination.
Allies "dethrone" the noble zone of Foz
The Avenida dos Aliados, the streets of the Clérigos / Galleries of Paris, together with the streets of Santa Catarina / Bonjardim / Sá da Bandeira, Flores and Mouzinho da Silveira, are currently the areas of the city of Porto where housing prices and leasing of more commercial spaces rose.
A fact that allowed that the prices of the housing in the renewed Avenue of the Allies have surpassed those of Foz, considered, until a few years ago, the noble zone of Porto to live.
A reality that shows how this avenue has become, after decades of having suffered with abandonment and disinvestment, where now stand out luxury housing.
Dynamics spread throughout the city
The good moment lived in the real estate is, at this time, visible a little throughout the city, infecting also the nearest municipalities, like Gaia and Matosinhos, especially.
A dynamic that has spread to other areas of the city, such as Paranhos, where most public and private schools are currently located, mainly due to the great demand for accommodation for students.
Paranhos was thus one of the parishes of Porto where the licensing of housing construction has skyrocketed in the last year. But it is mainly in the construction of projects destined to university residences that this zone has been evidenced.
New office developments
The office real estate market was one of the sectors that first reflected the upturn, driven by strong growth in demand from the city by international occupants.
Expectations for 2019
If 2018 was a good year, the expectation for 2019 is to keep rising. There are several businesses that are in the making. It was recently reported that the real estate investment operations in the city of Porto and the North of the country, which are under analysis, amount to 600 million euros.
On the other hand, in Porto and the North region, real estate prices, especially in the housing segment, continue to have a rising margin, which will allow investors to remain very active in this market.