Lisbon and Porto among the top European cities to invest in 2021
According to Europa Cities Guide 2021, a study developed by Knight Frank, Lisbon and Porto are at the top of the selection of 11 European cities with the most demand in the luxury real estate sector.
The consultancy firm highlights the "warm climate and atmosphere of the capital" Lisbon, popular with tourists and at the forefront of the greenest cities in Europe, but also the quality of life of Portugal's second city, increasingly sought after by nationals and internationals to "put down roots" in a city that "offers the best of both worlds".
Porto, the capital of the North and the industrial hub of Portugal, is highlighted in the study by its potential growth in the urban planning and rehabilitation following the pandemic.
Also, in a recent study released by CBRE, Lisbon has been ranked as the 10th most attractive European city for real estate investment in 2021. According to the EMEA Investor Intentions Survey 2021 report, the list is led by London, followed by Berlin and Frankfurt.
In the expectation that vaccination plans will remain within the planned timetable, CBRE also predicts that, in 2021, European investment volumes will increase by up to 5 percent, compared to last year, although it considers “likely that there will be some variation between countries and asset classes”.
In Portugal, CBRE says that investment in commercial real estate “started timidly in 2021, due to the general lockdown to which the country was subject, including restrictions on travel and visits to properties”, which was reflected in a “strong slowdown” in the investment activity during the first three months of the year”.
The director of research from CBRE Portugal, Cristina Arouca, considers that “there continues to be a high interest in the Portuguese real estate market” and with the country's gradual easing of lockdown and the ongoing vaccination plan, they expect “a very dynamic second half” of the year.
According to Nuno Nunes, head of Capital Markets at CBRE Portugal, “Portugal is on the radar of the international investment community and, at the national level, we foresee very positive developments in the investment capacity of local players”.
