After the big cities the investors have turned to the smaller ones and in this race Lisbon has just reached the lead. In just one year, the Portuguese capital moved from 11th place to the first, reveals a study by the consultant PwC and the Urban Land Institute.
The study, Emerging Trends in Europe 2019, which ranks property markets in major European cities according to the global outlook of major investors in the sector, shows the decline of some cities so far in the Top of preferences, such as Berlin, second place in the ranking. Dublin, despite the effect of Brexit, remains in third place.
The preference for Lisbon is supported by the city's "quality of life" and by the growth of the Portuguese economy, which "is now an international destination for companies, investors and tourists".
The Spanish capital rose one position, moving to the fourth place, which was occupied by another German city, Munich.
The study shows that prospects for Europe's biggest real estate investors remain optimistic about business opportunities in 2019, though somewhat less confident than a year ago, to reveal some caution as the possibility of the sector's growth cycle coming to the end.
Concern for investors is "the geopolitical scenario," especially for Brexit, although large global investors are less concerned about this effect than their European counterparts.