Real estate activity did not stop in Porto, even during the pandemic. The Iberian Property Data revealed that Porto had an investment of almost 195 million euro up until June.
More than three quarters of that investment were allocated between January and March in two transactions: the purchase of 50% of NorteShopping for 145 million euro and that of a logistic unit in Valongo for nearly 3 million euro.
After the pandemic settled in, there was the acquisition of Trindade Domus, with as many retail spaces as offices, by Portuguese Finangeste and British Patron for 40.5 million euro and only one other transaction: the purchase of Business Center Maia for 6 million euro.
The 46.5 million euro invested in Porto during this period was 24% lower y-o-y. On the other hand, the 15.6 million euro ticket per deal was 27% higher.
When compared to the first quarter of this year, the difference is even higher: investment volume is 68% lower and the ticket per deal dropped 79%. The truth is that looking back at the last 12 months, this quarter had the worst result in terms of investment.
All the information is available at the Oporto Report launched by Iberian Property, which can be downloaded HERE.
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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.