Real Estate Investment Grows by 529 Million Euros

6 November 2020Almost seven times higher than in the previous quarter, property investment in Portugal grew by €529 million in the third quarter, from €90 million to €619 million.

According to data released by the consultancy JLL,  property investment totalled €2.2 billion during the first nine months of this year, a figure only exceeded in the last decade by the record years of 2018 and 2019, when investment surpassed €3 billion.

In the residential sector, the third quarter saw a greater balance between local and international demand. While sales fell by approximately 11% compared to last year due to the pandemic, the drop was partially offset by Portuguese investors, as foreign investors suffered from travel restrictions.

Original Story: Jornal Económico – Rodolfo Alexandre Reis

Translation/Summary: RDT