2020 is a year of victories and defeats for the Lisbon real estate market. In just 6 months, the Portuguese capital registered its best quarter, but also its worst in the last 12 months. These distinctions go to the first and second quarters, respectively.
Only 2 deals were publicly revealed during the second quarter: the purchase of an office building which will be Joyn’s future headquarters for 4.5 million euro and the sale of an office floor within building Torre das Laranjeiras by D. Pedro Hotéis for 1.53 million euro.
Total investment in Lisbon during the second quarter was only 6 million euro, 66 times less y-o-y. When compared to the first quarter, which had the highest investment of the last 12 months, the difference is even higher, you would have to multiply those 6 million euro by 151 to reach the 916 million euro invested in Lisbon between January and March.
It should be reminded that the main share of this amount for the first quarter went to the shopping centre portfolio sold by Sonae Sierra and APG to Elo and Allianz, which only in Lisbon, represented 654 million euro for 50% of shopping centre Colombo, 50% of shopping centre Vasco da Gama and 100% of CascaiShopping. To these was also added NorteShopping, which was sold for an estimated 145 million euro.
Also sharing this huge drop was the ticket per deal which was reduced to 3 million euro, 26 times less yoy (80 million euro) and 43 times less than the ticket per deal reached during the previous quarter (130 million euro). This was also the worst ticket per deal registered in Lisbon during the last 12 months.
All the information is available at the Lisbon Report launched by Iberian Property, which can be downloaded HERE.
For more information on how to subscribe to the Iberian Property Data service, click HERE.
Disclaimer: This information is based on public data gathered within the platform Iberian Property Data. All estimates were calculated based on registered public information and data from the main consultants within the market. It should be noted that the results presented here may be updated if new information is issued.