6 January 2021
JLL has estimated that 2020 will be the third-best year ever regarding commercial property investment in Portugal.
Despite the pandemic, investors maintained a high volume of transactions, with commercial investment totalling approximately €2.6 billion, compared to €3.240 billion in 2019, a drop of around 20%.
According to the consultancy, residential real estate investment reached €25.1 billion 2019, compared to estimates of €24.1 billion by 2020.
According to Pedro Lancastre, JLL’s managing director, “the year began with a surge in all of the market segments and, were it not for the COVID-19 pandemic, 2020 would have been the best year ever for this sector, breaking new records. This totally unexpected situation… has disrupted every facet of our lives, with a profound impact on the economy and also on the real estate market.”
Original Story: Vida Imobiliária
Translation: Richard Turner