The general director of CBRE Portugal spoke during the presentation of "The Property Handbook", a practical manual that discloses all the necessary information about the Portuguese real estate sector, exposing the legal and fiscal issues associated with the investment activity. This 3rd edition is prepared in partnership with the law firm Vieira de Almeida.
The guide was first launched in 2012, "at a time when we had few investors. Now we have like we never had before. At MIPIM we deliver this guide every day". The director is confident that "we should not descend abruptly from the current level," since "we have no signs that this market will slow down."
Retail, residential, office or hotel, and others, all sectors attract investors today, driven by the great liquidity of the global market, "which highlydistinguishes the moments of the market. Real estate has become much more important, and is now present for a much wider range of investors," said Cristina Arouca, Research Director at CBRE.
If plant sales came back, with several buildings "built from scratch for the tenants", according to Miguel Marques dos Santos, a partner in VdA's Real Estate area, it is certain that demand is different from pre-crisis times. Francisco Horta e Costa says that "demand is much healthier than at the peak of the market until 2007. It is a market based on equity, with lower financing ratios." And it gives the example of a 42,000 m² operation in Lisbon, in which the consultant has recently been involved, a field that "will be taken by a single user, who wants, in addition to the office component, to have a residence next to them".
This year, the commercial investment is expected to reach €2,600 million, a new record.