After a second-quarter without any transactions, investment returned to real estate in the Portuguese secondary cities during the Summer, registering around 112 million euro.
This number is the result of 4 operations that took place in cities such as Faro, Covilhã, Torres Novas, Beja and Santa Maria da Feira. The largest operation involved the retail spaces occupied by Leroy Merlin which Batipart sold for around 65 million euro. The 3 supermarkets included in the portfolio acquired by SIGI Ores Portugal for 30.7 million euro also represented a considerable share of the secondary market investment during the third quarter.
During the last quarter, decentralised investment in Portugal represented a 5% share of all Iberian investment. This number is in line with the share these cities represented in Iberia during the last 4 quarters – 6%.
Iberian Property’s latest report showed that during the last 4 quarters alone, Portuguese secondary cities attracted a total of 1.234 billion euro through 22 operations. The average price per deal was around 56 million euro.
All the information is available at the Other Portugal Report from 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.