Source: Freepik Author: Redaction Carlos Cardoso will lead JLL in Portugal, the property consultancy announced in a statement to SUPERCASA Notícias . The companys new CEO will lead a team of 450 employees and is focussed on consolidating JLLs leadership in the national market , in which the consultancy has been operating for 27 years, taking up office with immediate effect. Carlos Cardoso has been with JLL for 13 years and was responsible for developing Tétris, the consultancys architecture and construction department, which under his direction grew from a team of 2 to 95 people and became one of the drivers of turnover in Portugal. In 2023, Tétris recorded growth of 12 per cent compared to the previous year, reinforcing the trajectory of positive evolution that it has been charting, as well as its position as a leader in the national market. Marie-Laure Leclercq de Sousa, CEO France, BeLux & Southern Europe at JLL, emphasises: Carlos has developed a remarkable career at JLL, driving one of the most successful business areas in Portugal from the start. He is a leader by nature, with an innovative business vision and an unrivalled commitment to clients, and is therefore in an excellent position to drive JLLs evolution in Portugal. I congratulate Carlos on this appointment, which is also proof that JLL is a company that recognises the excellence of its talents. Nicasio Gutierrez, CEO of Tétris, added: I would like to thank Carlos for his leadership at Tétris and for his undeniable contribution to the success of this business area not only in Portugal but also at European level over the years. Under his leadership, Tétris has grown exponentially in Portugal, and is today one of JLLs main billing engines in the country, bringing together almost a quarter of the entire consultancy team in Portugal, with emblematic projects in all types of property. Carlos Cardoso, CEO of JLL Portugal, comments: I would like to thank you first and foremost for the challenge I have been given on this journey I have been on at JLL/Tétris. Im proud to be part of the growth of this company, which already has 450 people and where Ill have the opportunity to work even more closely with all our business areas. Im excited to take on this new challenge and start a new cycle at JLL, reinforcing my contribution to building a better world every day for our people, our clients and our cities . Married and the father of five boys, Carlos Cardoso is an architect by training, with a degree from Lusíada University. He takes over as CEO of JLL, while maintaining his role as Managing Director of Tétris. Read more about the property market in SUPERCASA Notícias
Source: Freepik Author: Redaction In a statement shared with SUPERCASA Notícias , JLL released the latest results of its monthly Office Flashpoint report , revealing that Lisbons office market has seen 119,000 square metres occupied between January and May this year . This volume of take-up is already 6% higher than the 112,500 m 2 occupied in the whole of last year, which was one of the lowest levels of the last decade. Sofia Tavares, Head of Office Leasing at JLL, comments: Given the low levels of activity reached in 2023, it was expected that the market would recover this year. However, achieving an occupancy volume higher than the annual total in just five months exceeds our initial expectations . She adds: The improved outlook for economic growth, the control of inflation and the reversal of interest rate rises are having a positive impact on business confidence and this is reflected in the demand for office space. At the same time, this recovery in demand has been accompanied by the arrival of new supply on the market, even in pre-let format. And so we can expect occupancy levels to continue to grow in a very healthy way compared to last year and, even in a more conservative view for the second half of the year, its safe to predict activity in line with the average of the last five years, which is around 175,000 m2 for Lisbon and 55,000 m2 for Porto. In addition to the Portuguese market, we have received very positive signals in EMEA and especially in the USA, where we have seen an increase in demand and in the number of large-scale deals, which is another excellent indicator for the times ahead . According to the May Office Flashpoint, the 119,000 m 2 of occupancy recorded in Lisbon in the first five months of the year is a 242% increase on the 35,000 m 2 occupied in the same period last year. In the year to May 2024, 72 transactions took place in Lisbon, giving an average area per transaction of 1,650 m 2 , 185% more than in 2023. Parque das Nações, with a 41 per cent share, was the most dynamic location, while on the demand side, Financial Services companies stood out, with a 40 per cent share of occupancy in the year to date. The Oporto market is also on the road to recovery. In the first five months of 2024, 27,500 square metres of office space were occupied, 36% more than the 20,000 square metres recorded in the same period in 2023. Up until May, 38 transactions were completed in the Porto market, with an average area of 716 m 2 , practically the same as in 2023. Matosinhos, with 38 per cent of take-up, and CBD-Boavista, with 34 per cent, are the most dynamic locations in 2024, while TMTs & Utilities is the most active demand sector, accounting for 46 per cent of activity in the year to date. Regarding the markets performance in May, Lisbon totalled 21,350 m2 of occupied office space, reflecting a difference of -10% compared to April. Of the 16 transactions in May, the largest involved an area of 5,600 m2 in Alfrapark, while LeasePlan took 3,800 m2 in Q43-Fernão Magalhães. The Western Corridor was the most active area of the month, with 56 per cent of take-up, and TMTs & Utilities, the most dynamic companies, with a 46 per cent share of monthly occupancy. In Porto, monthly activity totalled 5,900 m2, 59% more than in the previous month. The market registered 11 operations in May, led by the occupation of 1,400 m2 by Manpower and 1,100 m2 by Maleo Services Offices, both in the Lionesa Business Hub. CBD Boavista was the most dynamic area in the month (44 per cent of take-up) and Financial Services companies were the leaders in demand, with 37 per cent of absorption. Follow everything thats happening in the property market: Office space completed in Europe decreased in 2023 , Luxury residential market: sales slow down in 2024 and Estoril Golf Residences: Cascais prestige attracts investment
Source: SUPERCASA Author: Redaction Vertice is the name of the latest development to appear in Campo Pequeno, one of Lisbons landmarks. The project, which will mark the landscape of this area of the capital, includes 119 flats, with typologies ranging from studio to five-bedroom flats, according to information provided to the SUPERCASA Notícias newsroom by the estate agents responsible for the sales. Vertice has a façade with a modern and elegant design and the interiors are characterised by their spacious areas, functionality and top quality finishes. Most of the flats have outdoor space, such as balconies and terraces, and the development also has a central garden for all users to enjoy and a car park with electric charging. The development is at the forefront of ESG (Environmental, Social and Governance) criteria, prioritising the use of sustainable materials , a reduced carbon footprint in its construction and the use of its own renewable energies. Its surroundings include Campo Pequeno square, Avenida de Roma and Entrecampos, making it a privileged location in the heart of Lisbon, close to some of the most important road accesses and transport networks such as the metro and train. The project is also surrounded by schools and universities, culture, art, commerce, sport and high-quality green spaces. Miguel Lacerda, Lisbon Residential Director at Savills Portugal, comments: it is a privilege for us to commercialise a project of such excellent quality as Vertice, which will certainly make a mark on the residential development scene in Lisbon not only because of its exterior and interior design, but also because of its high standards in terms of ESG criteria. This project promises to provide a perfect balance between typical Lisbon neighbourhood living and the modernity and comfort that define the Campo Pequeno area today. João Cília, CEO of Christies Front Door, says: Vertice is a remarkable and unique project in the heart of Lisbon. Striking for the quality of the project, where everything has been thought out to the millimetre, from the generous interior and exterior spaces, to the high quality finishes and respect for ESG criteria. A project of this quality, in a central location with numerous access points, where new construction is scarce, is truly a unique opportunity for those who want to live in Lisbon . Patrícia Barão, Head of Residential at JLL Portugal, says: We are very excited to be part of the launch of Vertice, in Campo Pequeno. With a privileged location, close to a network of road and transport links and a wide range of shops and services, this residential project is an excellent option for those who want to live in the heart of Lisbon. With flats of varying types, Vertice represents a significant milestone in the Lisbon property market, which clearly reflects the commitment to innovation and sustainability, values that are also inherent to JLL . Find out more about the property market in SUPERCASA Notícias
Source: Freepik Author: Redaction The demand for quality student residences (Purpose-built student Accommodation - PBSA) in Europe has never been higher. The number of students continues to grow, reflecting the growing international demand for leading European colleges. The interest of investors is also increasing, attracted by the solidity of the values practiced and good operational performance. However, demand far exceeds existing supply, with an estimated 3 million beds in stock to meet current needs. This deficit is expected to worsen by 200,000 more beds in the next five years, shows the report European PBSA: Investing in the Future, developed by JLL and sent in a statement to SUPERCASA Notícias . This study analyzes 40 European cities in terms of student demand, the offer of university residences and their development potential, market maturity, operational performance, accessibility and adequacy of energy efficiency of the current stock. Another essential conclusion of this study is that the current offer of private student residences in Europe totals 800,000 beds, so it would be necessary to grow four times to meet existing demand. This unanswered demand represents an investment opportunity of €450 billion, 34 times more than the European annual real estate investment record seen in 2022. The JLL study chooses, among these 40 cities, the 20 that impose themselves as the most attractive destinations for investment in new PBSA offe r, ranking Lisbon in the 8th position of the ranking led by London, Paris and Barcelona. The Portuguese capital is identified as one of the newcomers, emerging cities that combine a strong growth of the student population with an affordable cost of living, and evidence the effort made in recent years to internationalize education. According to this report, the number of students in Portugal grew 83% between the academic years 2016/2017 and 2022/2023, and specifically among the international student segment, the growth rate was 100%. In such a way that Lisbon is the 10th city with the highest number of students, accounting for a university population of about 170,000 students. However, it is also one of the cities where the supply shortage is more pronounced, being the 4th with the greatest stock shortage compared to existing demand. Concretely, the existing provision rate in Lisbon is currently one of the lowest in Europe, with current stock responding to less than 4% of active demand. Lisbon is thus among the cities with the greatest growth potential in investment in this market segment, expected to double the current stock in five years. Without prejudice, this will not constitute a supply shock, and the provision rate, even with the new investment already planned, is expected to remain below 10%. Lisbon has, in fact, a high and growing demand for university residences, both for foreign students and national mobility. Currently the international population represents 16% of the university student community in Portugal, when in 2010 its share was 6%. With the advantage of being much more diverse, with representation of Europeans, Americans, Chinese and also students from the Middle East, compared to a pattern previously dominated by students from PALOP , begins by commenting Joana Fonseca, Head of Strategic Consultancy & Research at JLL. He adds: however, we do have a problem of structural lack of supply and, in fact, a lot more pipeline is needed. Even with the expected increase in stock that this study points out and that places Lisbon among the cities with the highest growth rate of supply in the next five years, we will continue far below the needs of demand, even in a conservative scenario regarding the growth of the number of students . Regarding the sector as an investment product, André Vaz, Head of Living & Alternative Investment at JLL, explains that PBSA is one of the most dynamic asset classes in Europe, essentially due to the more attractive yields compared to other types of assets and because operationally it runs very well. In Portugal, the investment potential in this sector is enormous, because we start from an extremely low stock compared to the universe of demand that effectively exists . The JLL study shows that around 40% of European demand for unanswered university residences - 1.2 million beds - is concentrated in the top 40 university cities , This deficit is estimated to increase by another 8% despite the projected pipeline of 130,000 new beds, as European universities continue to record growth in students, both national and international. Over the past decade, the number of students in Europe and the UK has grown 15%, reaching an estimated community of 21.7 million by 2022/2023. JLL estimates that this population will grow another 10% by 2030/2031, which will translate into a nominal increase of 2.0 million students in need of housing solutions compared to 2022/2023 levels. There are about 2.2 million beds in university residences in major European markets, of which only 40% are owned by private institutional investors. The other 60% are public or subsidized property, and often restrict access to national and international students who do not meet certain socio-economic criteria. However, almost half of the number of students added to the university population in the last decade is of international origin, which means that they were the group with the highest growth rate. Although investment in student residences in Europe increased sharply between 2008 and 2022, with an annual growth rate of around 27%, it initially selected almost exclusively the UK. Major markets in continental Europe would need to grow on average 13 times to match the pace of growth observed in the UK between 2008 and 2022. To meet dissatisfied demand, the largest student markets such as France and Germany could see investment grow from an average of €500 million to €7 billion. In more emerging markets, such as Italy, at the current pace of investment, it would take 100 years to apply the necessary investment. Joana Fonseca, Head of Strategic Consultancy & Research at JLL, also comments in the note to which SUPERCASA Notícias had access: the forward Deal/forward Funding model will lead the growth of the sector due to the shortage of final product for acquisition in Continental Europe. We started to see this trend a few years ago, despite rising construction costs, with investors and developers becoming more creative to cope with higher costs. However, enhancing this sector requires greater transparency of the market and understanding the requirements of authorities at the level of licensing . André Vaz, Head of Living & Alternative Investment at JLL, added: PBSA in Europe is not only responding to the growing community of foreign students, asserting itself as an equally attractive solution for domestic mobility students. Accessibility and the offer of a complete student experience continue to distinguish PBSA from traditional rental accommodation. Read also: Prospects for investment in construction are less positive
Source: Freepik Author: Redaction One of the preferred destinations for real estate investment in Lisbon, the riverside area next to Cais do Sodré, was the stage of a new transaction, with the purchase of the Corpo Santo 13 office building by a group of private investors, represented by real estate consultant JLL , as indicated by the real estate agency to the newsroom of SUPERCASA Notícias . Once the headquarters of the Companhia de Seguros Fidelidade, the iconic property is located on one of the busiest corners of this axis of Cais do Sodré, in Largo do Corpo Santo, and is distinguished, among other factors, by its visibility, with three street fronts. The building is currently occupied by the Court of Appeal. Another strong point of the building now transacted is its privileged location, close to metro, train and boat transportation points, in addition to being at the epicenter of a very appealing neighborhood to work, live or enjoy in leisure and tourism , where the offer of hotels, retail and services has been growing and qualifying. For João Sacadura, Co-head of Commercial Real Estate Investment at JLL , in the note to which SUPERCASA Notícias had access: this property is a very desirable asset with an occupant of excellence. But it is also evident by the potential for reconversion it has. Given its excellent location in one of the most dynamic areas of Lisbon in terms of urban requalification, it is a property with numerous possibilities in the future. Read more related topics in SUPERCASA Notícias : Portuguese architect wins European Sustainable Energy Awards , Savills places Paack at Adarse Logistics Park
Source: JLL Author: Redaction JLLs Office Leasing team and Openbook Real Estate are marketing two office buildings located in Lisbon city centre, on Rua Camilo Castelo Branco and Avenida Fontes Pereira de Melo, next to Marquês de Pombal, as the real estate consultancy told SUPERCASA Notícias . The two buildings, owned by the BPI Imofomento Fund, have 8 office floors each and more than 15,000 square metres of total lettable area. Both are undergoing a major renovation with a complete overhaul of the infrastructure networks, new layout and finishes. The investment will place these two buildings among the best office spaces in Lisbon. The aim of this renovation is to obtain Breeam Excellent sustainability certification. In terms of amenities, the assets have an auditorium and foyer for events, several meeting rooms, informal and collaborative working areas, as well as car parks for EVs, bicycles and changing rooms. These features have been increasingly sought after, especially in a market as scarce as ours, with this type of offer. New trends in the world of work have led the office sector to evolve in a more collaborative direction and, therefore, with new demands, not only from this point of view, but also in terms of certified and sustainable buildings, says Sofia Tavares, Head of Office Leasing at JLL . These spaces have all the potential to be two of the best office assets in Lisbon, not only because of their privileged location, close to various means of transport and in the city centre, but also because of their surroundings. From gardens to shops and restaurants, these assets will be fully ready to receive companies or services, ensuring the quality of the facilities, especially at a time when we know that many companies are looking for spaces with sustainability certifications, which is a growing trend, adds Sofia, in the note to which SUPERCASA Notícias had access. Investments in the refurbishment of buildings in the city centre, such as those that BPI Gestão de Ativos is making for the BPI Imofomento Fund, are essential for the vitality of the city, making our capital even more attractive to new businesses, says Eduardo Craveiro Lopes, Real Estate Investment and Asset Management Director at Openbook Real Estate. They are expected to be ready in the second half of 2026. Continue reading: Lisbon and Portos office market shows dynamism , Housing statistics: cement consumption up 2.1%
Source: Freepik Author: Redaction Four years after the pandemic, a new survey by JLL (NYSE:JLL) concludes that hybrid working is now the model most adopted by companies globally. According to the information sent by JLL to the SUPERCASA Notícias newsroom, around 94 per cent of the entities surveyed operate in this model , confirming that hybrid work is here to stay and that it has a long-lasting impact. JLLs new 2024 Global Occupancy Planning Benchmarking Report thus underlines that hybrid occupancy programmes are constantly evolving to accommodate a growing variety of work activities , and how companies can look at occupancy and workspace design more holistically to integrate these changes. By investing in new monitoring technologies, greater use of space utilisation data and the presence of work zones for privacy and concentration work, companies can ensure that they are effectively integrating the needs of changing workspaces. Based on JLLs insights and accumulated data from more than 85 companies representing around 58 million square metres in 12 industries worldwide, the benchmarking report lists best practices for companies to use workspace as an asset to attract and retain the best talent. One of the critical success factors for a hybrid workspace is the ability to work with occupancy patterns that change throughout the week. With almost 50% of companies planning to expand their hybrid programmes over the next three years, there is a unique opportunity to create a more dynamic workspace that integrates facilities management, space planning and technology into decision-making. This global study only confirms that hybrid working creates unique opportunities for workspaces and companies, and that we can be much more creative and efficient. There are already many companies adopting desk-sharing ratios of between 50 and 70 per cent, freeing up space for collaboration and experience zones, says Caetano de Bragança, Head of Workplace Strategy at JLL. Data on space utilisation is essential for companies to get to know each other and make bold decisions. Theres a whole new world in the way we think about our workplace, and using occupancy data allows for greater flexibility, predictability and comfort . A study carried out in Portugal by JLL, in partnership with AON, on new working models shows that 90% of the companies surveyed have adopted hybrid working policies and that 72% consider that their office is prepared to accommodate these new working models . However, and probably in recognition of the fact that these are dynamic processes, 60 per cent of companies plan to change the configuration or location of their office in the next five years. The importance of the physical office for the companys activity and peoples well-being is recognised by 95% of the entities surveyed, according to this study by JLL in Portugal, which surveyed more than 200 companies operating in the national market in 17 economic sectors. Portugal is following the global trend, with companies realising that hybrid work is here to stay, but is evolving. This is shown by the study we carried out at national level. This 60% share of companies that anticipate the need to reconfigure or relocate their office within five years reflects the awareness that the workspace must constantly adapt to new work needs, making it an essential tool for the performance of organisations, concludes Caetano de Bragança, in the information to which SUPERCASA Notícias had access. Key findings of JLLs global study Hybrid is here to stay 94% of the companies surveyed have implemented hybrid work programmes. Furthermore, over the next three years, 45% say they will maintain their programme and a further 49% say they will expand. The adoption of hybrid working methodologies continues to evolve and influence occupancy planning and space design. Optimising space, improving the employee experience and supporting changing working styles are the big drivers. Usage benchmarks are boosting the value of hybrid programmes 76% of respondents are monitoring office utilisation data, up from 62% before the pandemic (in 2019/2020). Departing from vacancy rates as the most important metric in all regions, the monitoring of utilisation metrics continues to increase, driven by technological advances . Individual seating is critical for successful workspaces that are becoming more agile The increase in desk-sharing policies and the reduction in office utilisation ratios are prompting a need for change. The definition of a workstation is broader, with 37% of companies counting hotelling desks (shared desks, not assigned to one person, but which can be booked) and 28% counting touchdown desks (occupancy without booking, for a short period) as a workstation in occupancy planning. There has also been an increase in this type of workplace, and in the last 3 years, 31 per cent of companies have increased touchdown spaces, 29 per cent have increased team open-space areas and 18 per cent have increased bench seating. Models are changing to accommodate a greater diversity of work activities Hybrid working models and ways of working are changing, because while there is a greater need for collaboration, there is also a need for privacy. In the last three years, 38 per cent of companies have increased the number of gathering spaces in their offices, and 42 per cent have increased open collaborative areas. The use of utilisation data is being driven by technology and visualisation platforms Forward-thinking companies are looking at how utilisation monitoring technology and advanced analytics can create efficiencies in workspace management and occupancy. 53% of respondents have invested in a space reservation system to support the implementation of hybrid programmes, and 50% are using these systems as a tool to monitor space utilisation. 75% of respondents are also using digital dashboarding platforms to manage, analyse and/or measure their occupancy. If this article interested you, find out more in SUPERCASA Notícias
Source: JLL Author: Redaction The Industrial & Logistics department of JLL placed the newly created NCS Steel Service Center, a company owned by recognized actors in the national market in the distribution of steel products (J. Justino das Neves, Metalofarense and Nordesfer)in a building strategically located in the Palmela area. With this transaction, according to the information sent to SUPERCASA Notícias , the project reached a significant milestone, reaching 100% occupancy, evidencing the continuous dynamism of the real estate market in the region. The W1 complex, developed by the real estate developer Wealimit, consists of four logistics vessels, stands out for its privileged location in Palmela, more specifically in Quinta do Anjo, and is located only eight minutes from the A2. The NCS Steel Service Center is thus 7,234 m2 of warehouse, which offers a variety of amenities , complemented with six piers/ gates and ample parking space for light and heavy vehicles, ensuring practicality and accessibility. The property thus totals an area occupied about 10,000 m2, in an ideal space for industrial dynamics and logistics. We are very pleased to have played a key role in placing the 7 200 m2 of the W1 Building in Palmela at NCS. This placement not only strengthens the position of the shareholder companies and the new company in the market, but also boosts the economic development of the Palmela region, which has been experiencing strong dynamics, precisely at Quinta do Anjo. This happens especially at a time when there is a high supply shortage and a significant growth in demand and investment in the industrial and logistics sector , explains Mariana Rosa, Head of Markets Advisory at JLL, in the statement sent to SUPERCASA Notícias . Mariana concludes: This placement not only demonstrates the attractiveness of the real estate market in the region, but also reinforces JLL’s ability to identify and meet the specific needs of our customers. NCS Steel Service Center is born with the purpose of adding value to the market, where the shortage of manpower in construction is increasingly a daily challenge: Focusing on steel processing, particularly in the cutting and molding of rebar is to respond to a service increasingly requested by our customers, said the members of the Board of Directors of NCS Steel Service Center. Therefore, the step taken by our three companies, of family nature, size, reputation and similar values (J. Justino das Neves, Metalofarense and Nordesfer) was obvious in a consolidation of knowledge, experience and responsiveness throughout the national territory, add. More Real Estate Market themes that may interest you: Dils enters the Portuguese market through Castelhana and SIMA: the Spanish event is back with ego participation
Source: JLL Author: Redaction Construction has begun on Elayne Residences, a branded apartment project located in the heart of Cascais, which will provide a solid and profitable investment opportunity for potential buyers. The commercialisation process for the 79 tourist flats, intended for investment, is being carried out by JLL , as disclosed in a statement to SUPERCASA Notícias . These are one-bedroom flats that have been fully decorated, furnished and equipped according to the standards of an international hotel brand, standards that are also followed in the management of the units. With a purchase price of €360,000, this is a project with an attractive profitability model for investors, with a return starting at 5% on the purchase price. With professional management that will seek to maximise income from the units, Elayne has a consistent return outlook, seeking to offer financial security to those looking for solid and reliable investment opportunities. As well as being able to enjoy, as owners, the various services and amenities that the Elayne offers, investors will also have the opportunity to enjoy 15 days of free use each year, from October to April. Patrícia Barão, Head of Residential at JLL, says: Elayne Residences represents a unique opportunity in the property market. The demand for safe and profitable investments continues to grow, especially in areas like Cascais. This is the case with this project, which uniquely combines investment, a privileged location, profitability and excellent services. Luiz Godinho Lopes, Developer, says: Cascais has no other project with an income offer like Elayne. It was with this in mind that we decided to build this development, supported by 79 one-bedroom apartments, with professional tourist management under an international brand. Here, digital nomads, multinational professionals and the Portuguese who love the Villa can enjoy the leisure of the beaches and golf, the gastronomy where fish is king, right next to Lisbon. They can enjoy the services offered by Elayne, with a quality stay, and with the guarantee of someone who has long experience in promoting residential and tourist projects in Cascais . The development, located in the Birre area, is made up of one-bedroom flats, geared towards a superior experience for guests and, as mentioned above, each unit will be delivered fully equipped, decorated and furnished, in accordance with standards that ensure high-level tourism management. Keep up to date with the latest news on the property market via SUPERCASA Notícias
Source: Freepik Author: Redaction In the first quarter of 2024, the Portuguese real estate market performed identical to that of the same period of 2023 in most sectors, concludes JLL in its latest quarterly study Market Pulse sent to SUPERCASA Notícias . This trend was observed both in the commercial investment market and in the transactional segments of housing, hospitality, retail and logistics. The exception was the office sector, where activity grew considerably compared to the previous year. It should also be noted that, in part of the sectors analyzed, the scarcity of supply available for immediate occupation continues to create conditions for price and rent growth , even in a less expansive demand scenario. Joana Fonseca, Head of Strategic Consultancy & Research at JLL, comments: a start to the year with moderate activity was expected. This is always a period of greater expectation of economic developments, especially due to inflation and interest rate rises. The elections contributed to increasing the uncertainty that naturally already prevails at the beginning of the year, leading to economic agents to be more cautious in their investment decisions. The market response to a higher level of uncertainty was to wait and see both in the commercial and residential markets . In the first quarter of this year, €260 million was invested in commercial real estate , differing little from either the same period last year (-5%) or the average of the last three years (+6%). In the hotel sector, the number of guests and overnight stays in the first two months of the year showed slight improvements compared to 2023 (5% and 3%, respectively), as well as occupancy levels, which reached 60% in Lisbon and 53% in Porto in the first quarter, in both cases two percentage points more than in the first quarter of 2023. In housing, JLL estimates that demand in this quarter is still slightly lower than in the same quarter, however, the most recent trend is stabilization in transaction levels, good dynamics of sales in the plant for differentiated projects and also the maintenance of activity among international buyers. In retail, sales also indicate a residual variation of 0.5%, highlighting the operational stability of the different formats of retail real estate. The office segment stands out from the rest by the positive, registering a remarkable recovery compared to the previous year, with take-up more than doubling both in Lisbon and Porto, with 73,700 m 2 and 18,000 m 2 taken, respectively. It should also be noted the behavior of industrial and logistical real estate , in which the occupation presents a year-on-year drop of 20%, although as a result of the lack of supply to absorb, since rents continued to rise. According to Joana Fonseca, the scarcity of properties available and adapted to demand requirements continues to influence market behavior in the most diverse segments. Therefore, despite a natural slowdown in demand in the last year, there are no downward adjustments in prices and rents and even value increases in some segments. This is especially visible in housing, logistics and hospitality, while sectors such as offices and retail sustain their prime incomes at fairly robust levels. In hospitality, the average daily rates are at maximum levels for this period of the year in Lisbon (139€) and Porto (99€), with impact on the RevPAR, which reached, 83€ and 52€, respectively. In housing, without prejudice to the accumulated last year there is a fall of almost 19% in sales, prices at national level maintain an upward trajectory, which even slower, continues to reach about 8% (INE data). In the first quarter, prices should maintain this trend, either due to the mismatch between demand and supply, or by the persistence of the increase in construction costs. In logistics, there was a rise in prime rents in most areas of the regions of Lisbon and Porto, continuing the behavior of the last quarters. In retail, the note is the stabilization of rents in different formats, with the exception of street trade in Porto, where the trend is increasing, especially in Avenida dos Aliados, which reached 55 €/m 2 . The prime rents of the offices remained, in general, stable, staying at 28€/m 2 in Lisbon (Prime CBD) and 19€/m2 in Porto (CBD Boavista). After the first quarter, the market has once again proven its resilience in situations of greater uncertainty or adversity. And now that we have a new government in place, with the announcement of the rectification of many measures that are particularly penalising the sector; in which a reduction in the conditions of access to credit and control of inflation levels is anticipated, the outlook is that the year 2024 will progressively recover the dynamics of demand in the various sectors, maintaining the consequent stimulus of appreciation , notes Joana Fonseca, in the statement to which SUPERCASA Notícias had access. And he adds: arrived here, both in the scope of the impact of macroeconomic conditions and in the scope of the impact of political surroundings, we were able to have more solid prospects for market activity in terms of demand. We now look forward to the materialization of new government proposals for housing, so that we can finally mobilize the sector to create housing supply, do so with scale and diversification of value ranges. This is the structural issue that continues to condition our market and that we have to solve . Learn more about the news of the Imobiiário Market: Savills puts CTT in Benavente Logistic Park , Discover which countries where the price of housing has increased the most
Source: Freepik Author: Redaction In a press release sent to SUPERCASA Notícias , JLL announces the launch of its latest residential project located in the picturesque region of Carvoeiro, in the Algarve - Lumina Villas . This new exclusive condominium consists of 58 townhouses and redefines the concept of living with elegance and comfort , through an unparalleled residential experience in the heart of the Algarve. Lumina Villas offers a variety of spacious units, ready to live, ranging from typologies T2 to T2 + 1, with 153 m 2 . Each villa is meticulously designed to offer the perfect balance between contemporary style and functionality, providing a living environment of true comfort. A distinctive feature of this condo is its commitment to the well-being and leisure of residents. It offers a wide range of amenities including a swimming pool, a bar, a playground for the little ones, 24 hour security and ample parking for greater accessibility and comfort of the residents. One of the most captivating assets of some of these villas is the stunning sea view, especially from the top floor. It is something rare soon very valued, especially in the Algarve, explains Patrícia Barão, Head of Residential at JLL, in the note received by SUPERCASA Notícias . This setting promotes a serene environment, so that residents can relax and enjoy the surrounding nature. The privileged location is also a highlight, since it is located a few minutes from Carvoeiro beach and the village center. Future residents of these unique houses will have easy access to a variety of restaurants, shops and recreational activities, he adds. With prices starting at 400,000 euros, Lumina Villas is a very attractive investment, both for those looking for a first home, and for those who want a second home in the Algarve . Read also: Office occupancy in 2024 more than doubled from 2023
Source: Pexels Author: Redaction In the first quarter of 2024, 73,700 m 2 of office space were occupied in Lisbon, a volume that surpasses by almost four times the 19,300 m 2 traded in the same period of 2023. In Porto, the occupation in the first three months of this year amounted to 18,000 m 2 , more than doubling the approximately 7,700 m 2 taken in the same quarter. In quarterly terms, occupancy grew 82% in Lisbon and 91% in Porto. The data are disclosed by JLL in the framework of its monthly analysis report to this sector, Office Flashpoint , received in a statement by the newsroom of SUPERCASA Notícias . The consultant contributed to the high dynamics of these markets, having worked in operations that correspond to 42% in terms of number of businesses in the quarter in Lisbon and 50% in Porto in terms of area occupied. The activity of Lisbon in the quarter was marked by two large operations, which together correspond to 59% of the occupied area. Namely the acquisition of 26,700 m 2 by Caixa Geral de Depósitos in the Well Be building, in Parque das Nações, and of 17,000 m 2 by an undisclosed entity in the Álvaro Pais 2 building, in the New Office Areas. Without prejudice, removed the effect of these operations, the market would have grown 55% compared to last year, marking the return of large transactions. In fact, in the quarter under analysis, 41 office occupancy operations were carried out in Lisbon, of which 9 involved areas greater than 1,000 m 2 , including the taking of 1,860 m 2 in the Torre Oriente do Colombo, by Advance Care, in an operation carried out in March and advised by JLL. In the first quarter, Parque das Nações, with 39% of the take-up, was the most dynamic zone, followed by New Office Areas, with 35% of the total. In terms of demand, there is clear evidence of Financial Services companies, reflecting some of the largest operations in the quarter, generating 65% of all activity. In Porto, there is also the reactivation of large operations this year, with 6 of the 22 transactions of the quarter involving areas greater than 1,000 m2. More recently, in March, the transactions of 4,000 m 2 occupied by a company in the Matosinhos Office Center are evident, as well as another 3,000 m 2 by Alten no Sousa Aroso 959, the latter a business also mediated by JLL. In the quarter in question, it was the area of Matosinhos that was most evident, with a share of 43% of the occupation registered in Porto. On the demand side, TMT’s & Utilities companies were the major lever of the office market in Porto, with 59% of the accumulated take-up. Sofia Tavares, Head of Office Leasing at JLL, comments: Q1 results make us very excited for the year’s projections. Porto, maintaining lower activity levels than Lisbon, has a healthy dynamic and good demand rates. In Lisbon, even if we annul the effect of the two large transactions, which naturally do not constitute a usual market pattern, we would have a quarter occupancy around 30,000 m2. This translates to annual growth of over 50%, which is an excellent indicator of demand activity. If we keep this pace, we will reset the activity to the average usual market transaction levels, reversing last year’s slump. Follow other similar topics in SUPERCASA Notícias
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