All you need to know about
Investing in Portugal



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

Dear investors,

It is in a context of reinforced confidence that we launch this 6th update of “The Property Handbook - a Real Estate Investment Guide”, a publication initiated in 2013.

The sentiment is currently much more positive, now that over a year has passed since the beginning of the pandemic. The ongoing vaccination plan rollout and an economy support package agreed with the European Union, lead us to believe in the capacity and speed of the economic activity recovery and the consequent boost in the real estate market, both in terms of investment and occupation.

In this joint initiative, which brings together CBRE and VdA, we are interested in continuing to ensure that investors are well informed regarding the performance of the real estate market in Portugal and the respective legal and tax framework.

From the market point of view, this edition includes an analysis of 2020, which recorded a general slowdown in activity, but a resilience in terms of prices. It also includes an overview of the first quarter of 2021, marked by a new general lockdown, which was reflected in a timid investment turnover and a retraction in the demand for spaces for occupation, except for the logistics sector. In the legal context, the most significant change concerns the Golden Visa program.

However, the fundamentals of the market remain interesting and robust, not only in occupation but also in investment. Additionally, Portugal has very attractive conditions for the development of a more diversified range of classes of real estate assets, which have gained importance with the pandemic, namely senior homes, clinics and hospitals, multifamily housing and data centres.

Furthermore, the growing investment activity that Portugal is witnessing in the agribusiness sector is also noteworthy, leading us to include a new chapter on the topic in this update.

We are therefore sure that the real estate market in Portugal will be strengthened after the pandemic, and that, with the support of CBRE and VdA, many good deals will be closed.

We look forward to working together!

30th April 2021