Market commercial property reached €760 million in investment in the first half of 2023. Although this is approximately 35% below the average for the past five years, the cumulative total shows a decline of only 8% compared with last year.
The hotel sector is leading the way, with the largest transaction here being a portfolio of hotels, which accounted for 33% of the total market volume. This is followed by the retail sector, where a deal involving a portfolio of 40 supermarkets was completed.
International capital accounts for 81% of transactions, with US investment firms playing a significant role in this regard.
Lisbon's housing market remains attractive. In the first half of the year, prices rose in many areas, especially Lapa – Estrela, Campo de Ourique, Restelo – Belém, and Sete Rios – Praça de Espanha. As for average prices, in the second quarter there was a year-on-year and quarter-on-quarter correction.
Thus, the average price per square metre of housing in Lisbon in the second quarter stood at €4,470, which is half a per cent lower than last year’s level. The average price per square metre in new-build properties was €6,400, down by 4% compared with last year.
Nevertheless, average prices for new-build properties in the upper price segment have risen compared to last year and the previous quarter. Here we are seeing a 10 per cent increase (year-on-year) to €11,480 per square metre.
