All you need to know about
Investing in Portugal


Francisco Horta e Costa | Managing Director CBRE Portugal
Miguel Marques dos Santos | Vieira de Almeida

Dear investors,

This is the 9th update of “The Property Handbook - a Real Estate Investment Guide”, published for the first time in 2013, when Portugal was starting to exit from a very turbulent economic and financial period. Since then, a lot of things have changed.

The economy has become more resilient and the Portuguese market has earned a new place in the global investment panorama, with numerous opportunities. New peak levels were recorded in real estate activity, namely in investment volumes, take-up, prices and rents. Simultaneously, new asset classes have emerged and became operationally sophisticated, such as student housing, senior living and agribusiness, capturing significant inflows of capital into the country.

But now, the world is living a moment of political and economic uncertainty, driven by the war in Ukraine, growing inflation, the rise of interest rates and higher construction costs. However, due to more than a decade of very low development activity and Portugal’s increasing attractiveness as a living and working destination, several asset classes maintain strong fundamentals.

In this joint initiative, which brings together CBRE and VdA, we want to ensure that investors are updated with the performance of the real estate market in Portugal and the respective legal and tax framework. As in 2013, our purpose is again to keep investors informed in a context of uncertainty, in order to make the best business decisions.

We look forward to working together!

March 2024