The third quarter 'Market Pulse Portugal ' report from Jones Lang LaSalle showed that 2013 has been marked by a good recovery in property investment.
In the first nine months of the year the investment in real estate amounted to €235 million against a total of €125 in 2012. According to the 'Market Pulse Portugal' data this performance, albeit a long way from the heady pre-crash years, marks a significant recovery compared to 2012.
The managing director of Jones Lang LaSalle, Peter Lancastre said the figure is a reflection of the "growing interest from investors in Portuguese real estate, especially international investors, largely due to the recovery of the European economy in general."
Lancastre stressed that investors who traditionally invested in Portugal , "as is the case of German funds, are gradually returning to our market, as well as from other sources that are gaining strength such as China."
Investors form countries outside Europe are gaining in numbers due to the Golden Visa scheme which has "aroused the interest of not only private investors but also institutional investors and property developers" according to Lancastre.
The same report notes that in the retail trade, good high street sites continue to be in demand especially in the capital where in the Avenida da Liberdade, twelve new stores opened in the course of 2013.
The conclusion by Lancastre that the rise in investment is Portugal is just part of a rise in general across Europe will come as disappointing news to government ministers who claim each percentage rise as their own work.
