In its end of year report for 2018, CBRE attests that «although it’s hard to predict for how much longer this dynamic will continue, the fact is that CBRE has on its pipeline a very interesting set of deals for 2019», which gives confidence for the CEO to predict that «most sectors should remain active, influenced by the interest rates which should remain low, directing more investment into real estate».
Offices will reamain one of the strongest sectors, with an expected «strong growth in transactions in the hotel sector. The market may still receive an additional boost if a bill which will allow for REIT like companies to be introduced in the market is approved».
Pre-letting will be the trend in office occupancy. As a result of the lack of offer, «we will see the construction of large office buildings, as well as large residential projects, in the cities of Lisbon and Porto», predicts the CEO, highlighting that «investors keep seeing in Portugal a market where there is still much to be done, and we have the same conviction».
Last year, CBRE registered a 57% growth in its activity yoy, and the previous year had already been its best ever in Portugal. All the consultant’s areas of business registered positive results.
In the year it celebrated 30 years in Portugal, CBRE kept breaking records. For Francisco Horta e Costa,«2018 was an exceptional year for the real estate market, and in particular for CBRE, which keeps growing and consolidating its leading position in the Portuguese market. We saw growth in practically every sector within CBRE, with some of those sectors breaking records in terms of revenue, and we increased our team to 160, which represents a 20% increase».