Commercial real estate in Lisbon already yields more than the European average

Investment in commercial real estate in Portugal is expected to exceed 2 billion euros this year, if the pace is maintained until now. The forecast is that of Worx, which points out that the profitability of the office market in Lisbon is already above the European average.

In the first half of this year, commercial real estate investment amounted to 1.4 billion euros, with the retail segment adding the largest investment volume, totaling around 800 million euros. The consultant anticipates, therefore, that the investment in this type of real estate will "exceed widely the bar of two billion euros".

Portugal has followed the investment in commercial real estate in Europe, which registered a growth of 2% in the first half, totaling 115.4 billion euros. "This confidence was mainly reflected in the office sector, which increased 9%, reaching a market share of 44% in the total volume of investment, due to the closure of large operations," Worx points out.

Portugal not only monitors growth, but also outperforms investors. "The prime yield of the Lisbon office market is 4.5%, above the European average, which stands at 3.9%," the study said.

Around this time, the retail and office segments accounted for 91% of the total investment volume. Among the operations that took place in the first half of the year, Worx highlighted the sale of the Blackstone portfolio (comprised of Sintra Retail Park, Fórum Sintra and Forum Montijo) for 411 million euros, Dolce Vita Tejo sales of 230 million, the sale of Lagoas Park, Teixeira Duarte, to the European fund Kildare for 375 million, the sale of Hotel Intercontinental Porto to the Asian group GCP Hospitality for 55 million.