Real estate investment in Porto soars to decade-high values
By the end of 2024, the city of Porto should reach a historic representation of 19% in the total volume of national real estate investment, an impressive leap when compared to the 2% recorded in 2014.
Porto's real estate market is soaring, with decade-high values that, by the end of 2024, should guarantee for the city a 19% representation in the total volume of Portugal's real estate investment market. In 2014, Porto's figures represented only 2% of this national volume.
The estimate is from CBRE, which explains that this accelerated growth reflects Porto's attractiveness for investors, driven by its strategic location, modern infrastructure, and public policies favourable to investment. The city has established itself as one of Portugal's main economic drivers, being considered a stable and predictable market.
The office segment has been one of the main drivers of this growth, with a 20% increase in take-up forecast for 2024 and a vacancy rate that has fallen by 35% in recent years, currently standing at 5%. CBRE points out that Porto has considerable growth potential in this segment, when compared to other cities such as Lisbon and Barcelona.
The tourism sector has also played a crucial role in the city's economic growth, with the number of guests increasing by 50 per cent in the last six years. Porto has attracted international hotel brands and consolidated its position as a leading destination for tourism.
