Source: Freepik Author: Redaction The Development and Corporate Department of Home Tailors Real Estate is marketing the flats at Tróia Design Hotel. According to information sent to SUPERCASA Notícias , 28 flats are available, from studio to three bedroom flats, distributed in 14 Deluxe Studios, 8 premium flats, 4 master flats and 2 grand flats, all with sea view or river view. The flats are located between the 7th and 12th floor and range in size from 58m 2 to 298m 2 , all with balcony or terrace. All units have garage, as well as access to all the hotel facilities. Sales prices range from EUR 320,000 to EUR 950,000. The Tróia Design Hotel is a five star contemporary resort with magnificent views of the sea, beaches, river and the Arrábida Mountains. The hotel has a SPA, fitness room, sauna and Turkish bath, 2 restaurants, 1 heated indoor pool and 2 outdoor pools, one of them for children and a Kids Club. It also includes a Casino, Entertainment Centre and Conference Centre. David Carapinha, CEO & Founder of Home Tailors Real Estate , in the note to which the redaction had access, states: It is a pride for Home Tailors to be commercializing these incredible flats. This is a project with unique characteristics, a true paradise near Lisbon. The investment in these flats presents very attractive rates of return, and their location is increasingly sought after by both national and foreign clients. This partnership reinforces Home Tailors position in the luxury segment and is the result of the great effort and commitment of our fantastic team. You can also read: Opinion: Trends in Luxury Real Estate or Savills acquires Predibisa and consolidates position in the port
Source: JLL Author: Redaction Prime Selection by JLL is the new website of the real estate consulting company, exclusively focused on high-segment housing and developed in a highly customised manner by the CRM of real estate management eGO Real Estate . The online platform offers a unique user experience and brings together the portfolio of premium residential properties marketed by JLL , and is the privileged showcase of the consultants bet on a specialised service in this segment , which also includes the allocation of a dedicated team of consultants. The goal is to provide guidance with maximum customization, both to promoters and sellers, in the process of recruitment and marketing of products, and to final buyers of this range of market, according to the press release sent to the editorial staff of SUPERCASA Notícias . Patrícia Barão, Head of Residential at JLL , considers that this specialization in the premium residential segment is a level above all that exists in the market. This is a segment that is especially sensitive to personalisation and attention to the client, not only because of the high customisation of the products themselves but also because of the profile of the buyers, with a strong aspirational and emotional component. And he adds: We want to have a level of service that gives a case-by-case response to these clients and that accompanies them from A to Z throughout the entire buying or selling process. Hence, in addition to the website that will be an exclusive showcase of the premium offer that JLL has in marketing, we also have the Prime team of consultants allocated to this selection, who have in-depth knowledge of the market and these unique products. The Prime Selection by JLL website includes properties with unique characteristics in terms of location, architectural details, finishings or design, ranging from flats to villas in the most diverse typologies, as well as farms and estates, with proposals for more rural, beach, urban or historical environments in the regions of Greater Lisbon, Porto , Alentejo and Algarve. It will soon also incorporate high-end properties in Madeira , a destination where JLL is positioning itself with the opening of a new contact space with the public and a portfolio of products already on sale. The Prime Selection team will be active in all JLLs residential shops in Lisbon , Cascais , Porto , Oeiras , Comporta , Vilamoura and Quinta do Lago , in addition to this new stop that will be Funchal . In line with the exclusivity associated to this segment, one of the launch initiatives of this new Prime Selection by JLL line is the differentiated promotion of the properties being marketed. JLL is developing partnerships that promote the synergy between real estate and art, including actions with musicians, curators, artists or interior designers for the introduction of artistic elements in some properties being marketed. This is a way of giving protagonism to the spaces as environments with a potential that goes beyond the mere reading of the property. Art is a differentiating element that provides an enriching experience, which is highly valued by this client profile, explains Patrícia Barão. JLL looks at the high-end housing market with great optimism, expecting demand to increase this year, both from national and international buyers. According to the consultants experience, 54% of prime residential purchases are made by Portuguese nationals and the remaining 46% by foreigners, among which are Brazilians, North Americans and the British. Patrícia Barão explains that the good dynamic of this market is based not only on the excellent quality of the products, with a very exclusive and differentiated offer, but also on the fact that this is a market range less impacted by the increase in interest rates and inflation. These are buyers with a strong aspirational and emotional motivation, in higher income brackets and who resort less to bank financing. Moreover, this is a public that has in real estate a refuge of their savings, always continuing to invest, regardless of the macroeconomic context, concludes the responsible, in the press release to which SUPERCASA Notícias had access.
Source: Freepik Author: Redaction According to Savills latest study sent in a release to SUPERCASA Notícias , office take-up values in the first quarter of 2023 started to diverge significantly in Europe , with Oslo, Prague and Madrid registering, respectively, increases of 50%, 19% and 5% in relation to the average of the last five years, while Dublin, Budapest and Lisbon registered, respectively, drops of 62%, 57% and 55%. For the Lisbon office market, 2022 was a record year with a total take-up volume of 272,000 m 2 . But the market now faces the challenge, as seen in other markets, of not having enough quality stock for tenants. According to the international property consultancy, vacancy rates in Europe have increased on average 50 basis points from 7.1% to 7.6% over the last twelve months as some tenants choose to delay signing new leases. This is most evident in Dublin (+350 basis points to 14.0%), Paris La Défense (+270 basis points to 15.7%) and Budapest (+240 basis points to 12.2%). Core vacancy rates remain very low, with Paris CBD (2.4%), Cologne (3.0%), Berlin (3.3%) and Stockholm (4.0%) showing a top-line stock deficit. Looking at the breakdown of vacant space across a sample of European markets, the average level of space available for sub-letting remained stable between Q1 2021 and Q1 2023 at 1.2% of total stock. Georgia Ferris, European Research Analyst at Savills , says: The shift in tenant type being seen towards more central locations is reflected in the increase in the vacancy rate in La Défense (+270 bps), a predominantly single-use financial centre, and the decrease in this same rate in the Paris CBD (-40 bps), a well-connected and more diverse-use location. MSCIs analysis shows that French offices were the most transacted segment in Q1 2023, with Paris CBD prime yields remaining among the lowest in Europe. In the note to which SUPERCASA Notícias has had access, Christina Sigliano, Head of Global Occupier Solutions at Savills, adds, The ever-present tenants emphasis on higher quality space in prime CBD locations, and the lack of adequate stock supply, are driving up prime office rental values in Europe, which have increased by 6.3% over the past 12 months. This is particularly evident in markets such as Cologne, Duesseldorf, Amsterdam, Munich and Prague, where prime rental values have increased between 13% and 29%. Frederico Leitão de Sousa, Head of Offices at Savills Portugal underlines: Similar to other European markets, Lisbon shows a clear differentiation and preference of tenants for quality and sustainable buildings. This has been a requirement mostly presented by international companies, due to their greater financial capacity that allows them to face the costs inherent to this type of assets. Sustainable buildings are no longer just an option, but are now a rule, which is reflected in the rent prices charged. Source: Savills Read also: Savills acquires Predibisa and consolidates position in port or New Edition of Residential Market Report is presented
Source: Grupo Visabeira Author: Newsroom The National Palace of Ajuda hosted the ceremony of the National Award of Urban Rehabilitation, considered the most relevant initiative to reward excellence in the Portuguese real estate sector. The award to the reconversion of the Rachadouro Cloister of Alcobaça Monastery was assigned by a jury composed by academic and professional personalities , according to a communiqué sent to SUPERCASA News . The reconversion of Rachadouro Cloister at Alcobaça Monastery, classified as National Monument since 1910 and part of Unescos World Heritage List since December 1989, into the seventh hotel unit of Grupo Visabeira in Portugal was a complex project in which the company invested 24,5 million euros. The project was signed by the prestigious architect Eduardo Souto Moura, whose work is recognised and valued on a global scale, as attested by the award of the Pritzker Prize in 2011, the most relevant international prize in the world of architecture. Architect Eduardo Souto Mouras concept for resurrecting the age-old building was inspired by the minimalism and detachment of convent life, cleaning it from the numerous more recent interventions and recovering the spirit that has marked the property over the centuries. This vision of architecture managed to highlight the virtuosity and quality of noble materials such as stone, wood, leather, steel and glass, in perfect union with the secular roots of the building and the irreproachable respect for the pre-existences and the history of the Monastery, thus accentuating the material reversibility that is a reference of this intervention. Apart from the project, the architect Eduardo Souto Moura was also responsible for the design of the furniture, especially developed for the hotel and for the decoration of the space, which included some pieces by his colleague and friend Álvaro Siza Vieira. Inaugurated in November 2022 by the Presidents of Portugal and Mozambique, and with the presence of the Minister of the Economy and Sea, representing the Prime Minister, the Montebelo Mosteiro de Alcobaça Historic Hotel, a 5-star unit, has 91 accommodation units, distributed between single and double rooms; family rooms; suites and a master suite, which is already a huge reference not only for leisure tourism, but also for corporate events.
Source: Pexels Author: Newsroom The Instituto da Habitação e da Reabilitação Urbana, I.P. (IHRU) will assign, by lottery, 21 more houses, in the scope of the promotion of public responses to affordable renting. According to the statement sent to SUPERCASA News , the applications are open from today, 2 June, and are eligible for dwellings of typologies T1 to T3, located in Lisbon, Oporto and Portimão . The rental contracts are intended for permanent housing of households. The houses will be drawn among the people and households who present their candidacy until June 22nd, provided they meet the eligibility conditions of the Programme and the requirements of the Notice of each Competition . Those interested can now find all the information about the competitions at ihruarrenda.portaldahabitacao.pt: Lisbon: https://ihruarrenda.portaldahabitacao.pt/programas/PAA/concursos/9_PAA_2023_LISBOA Porto: https://ihruarrenda.portaldahabitacao.pt/programas/PAA/concursos/8_PAA_2023_Porto Portimão: https://ihruarrenda.portaldahabitacao.pt/programas/PAA/concursos/10_PAA_2023_PORTIMAO
Source: Savills Author: Newsroom Proven leader in Residential and Commercial Real Estate mediation services in the Porto market, Predibisa is based in two offices in Porto, spaces that will both be maintained , with a team that has been providing residential and commercial real estate advice in northern Portugal for more than 30 years, according to a statement sent to SUPERCASA News . Savills has been present in the Portuguese market since 2018, with specialized teams and office spaces in Lisbon and Porto, and currently has a team of 120 people. In 2022, the volume of real estate investment reached 3.3 billion euros in Portugal, and the country continues to be seen as a safe heaven for investors. The market is based on solid fundamentals, attracting an increasingly diversified range of investors and tenants looking to expand their activity in the European continent. In recent years, the residential market has been one of the main drivers of international investment in the country, with sales figures exceeding those recorded in the pre-pandemic period. James Sparrow, CEO of Savills UK & EMEA, comments: We have excellent results in Portugal, being a key country to leverage our activity and growth. Porto is the second city in the country and is flourishing from both a commercial and residential perspective. This acquisition is therefore a natural step for us and we are very excited about this new step . Justin Marking, Head of Global Residential at Savills, states, We are very excited to be working together with our new colleagues at Predibisa; they are proven leaders in the Greater Porto market and will complement the offering provided by our Lisbon-based team specializing in the same markets. Portugal is a part of the world of growing interest to international buyers and developers, many of whom are established clients of Savills global residential network. Patricia Melo e Liz, CEO of Savills Portugal, points out, With a solid track record in Portugal and recognizing the importance of Predibisa in the Porto region Savills, through the completion of this transaction, takes another natural step towards geographic expansion in the country. We are very pleased to be working with this solid team and to expand the range of services to our clients in Oporto. Paulo Silva, HOC, Savills Portugal, adds, Porto has been on a brilliant trajectory through the significant transformation of its urban fabric, so Savills is outlining a solid strategy to meet the growing demand for specialized services in this part of the country. Rui Branco, Senior Director at Predibisa, says: By teaming up with a leading international real estate consultant with exceptional experience in the residential and commercial sector, we will be able to consolidate our position in the market. João Leite Castro, Senior Director at Predibisa, adds, Savills gives us access to a vast international network of clients and employees, which will open up additional growth potential and provide our employees with excellent development opportunities.
Source: UNU Author: Newsroom UNU Solutions, the agency of UNU Rede Imobiliária, located in Almada, has recently celebrated its second anniversary in the network. Along with this celebration, the agency also has a new location, now located at Rua Galileu Saúde Correia nº 13, first floor, in Almada, according to a press release sent to SUPERCASA News . Since opening, UNU Solutions has shown a remarkable growth. The agency has invested in the growth of its internal team, actively participating in all trainings, actions and events organized by UNU Rede Imobiliária. This continuous dedication and the improvement of professional skills have contributed to the success of the agency. The recent change of UNU Solutions location is another important milestone in its path. A move motivated by the growth of the agency and its team that required a larger space able to meet the growing needs of the agency and its clients. The new location provides a solid base for UNU Solutions to continue to offer excellent real estate service to all residents in Almada. The highly qualified and committed team at UNU Solutions works in a personalized way, seeking to meet the individual needs of each client and finding solutions that meet their expectations. The agency values transparency, ethics and honesty in all transactions, thus ensuring the satisfaction and trust of all who seek support in the process of buying, selling or renting property.
Source: Cushman & Wakefield Author: Newsroom Despite the slowdown in national economic activity, in 2022, the real estate market of Porto registered transversally positive demand volumes, with the first quarter of 2023 showing resilience in several sectors, according to the latest edition of the Porto Market Update, published by Cushman & Wakefield sent to the SUPERCASA News team. Andreia Almeida, Associate and Director of Research & Insight at Cushman & Wakefield, states that during the period under review, some historical highs were reached, demonstrating the increased attractiveness of the region, including among international companies. This greater dynamism continues to be partially constrained by the shortage of quality product supply suited to current demand criteria, which should gradually be bridged as new projects enter the market. Offices: After a drop in 2020 as a result of the impacts of the pandemic, demand in Greater Porto has been gradually recovering, with 58,500 sq m transacted in 2022, a 3% increase over the previous year. The first quarter of 2023 shows an acceleration in this trend, with a year-on-year growth of 22%. Among the biggest deals since last year are several pre-lettings, namely in the Porto Business Plaza - by SaltPay (4,740 m²) and Natixis (3,200 m²) - and the occupation by coworking Spaces (IWG group) in Joana DArc (4,500 m²). After gradual increases until 2021, the vacancy rate has corrected to 8.0%. On the other hand, since 2022, 9 buildings have been completed, with a total of 63,700 m², of which only a quarter is unoccupied. The demand for quality space continues to support the increase in supply projected for the next 3 years, currently at 131,200 m². Among these, 97,100 m² are under construction and with 40% occupation already secured, highlighting the second building of Civilrias ICON Offices project, the office component of the reconversion of the old slaughterhouse in Campanhã, and the future headquarters of Liga Portugal in Porto. Although prime rents in the Boavista CBD (Zone 1) have remained stable at €18/sqm/month since 2018, in most other zones there has been an increase, including among average rents, given the shortage of quality supply and higher latent demand. Retail: Aggregated retail demand by Cushman & Wakefield shows a recovery in the Porto Metropolitan Area since the pandemic, with 140 new openings in 2022, 40% above the previous year; growth that slowed to 6% year-on-year. In the first quarter of 2023, there was a slowdown in this growth, to 6% year-on-year, with 35 operations. High street retail maintained its leadership, with the downtown area concentrating 23% of the new supply in the last 15 months, an area that has seen some relevant refurbishment works, such as the renovated Mercado do Bolhão and the Bonjardim project. On the other hand, the restaurant sector continued to dominate. The high street commerce maintained its primacy, with the Baixa area concentrating 23% of the new supply in the last 15 months, an area that has seen some relevant refurbishment works, such as the renovated Mercado do Bolhão and the Bonjardim project. On the other hand, the restaurant sector continued to dominate, representing about half of the number of transactions. In 2022, prime rents in high street retail registered an increase in the downtown area, influenced by an increase in demand and shortage of supply. In the other zones, as well as in the shopping center format, values remained stable, a trend that continued across the board during the first quarter of 2023. Industrial & Logistics: After an expressive increase in 2021, Industrial & logistics occupational activity in Greater Porto slowed by 32% last year, with 106,200 m² having been transacted. Still, in the first quarter of 2023 the volume recorded is already 2% above the first half of the previous year. The largest transaction since 2022 corresponds to Olicargos own occupation of 33,800 m² in the Ribeirão Logistic Center (Vila Nova de Famalicão); the activity registered in the Ermida Industrial Area (Santo Tirso) also stands out, with 4 transactions for a total of 43,000 m². Among the main future supply for the next 3 years, new property in the Industrial Area of Ermida, where the new factory of the multinational WEG is under development (22,680 m²) and Aldi will install its new logistics platform (40,000 m²). Additionally, Medway is developing the future Lousado Terminal (Vila Nova de Famalicão), which will total 220,000 m². In addition to these, other projects will soon begin construction, namely Panattoni Park (Valongo), Valongo Business Park and Gaia Park. Considering the existing supply, the rental values of logistics spaces recorded a transversal increase in 2022, stabilizing in the first quarter of 2023. hotel management: Similar to the trend at the national level, the city of Porto recorded a recovery in activity throughout 2022, including with the number of overnight stays in tourist accommodations doubling to values above 2019. The first quarter of 2023 indicates that this trend will continue, with relevant year-on-year growth, namely 63% in overnight stays, 65% in RevPAR and 17 percentage points in the occupancy rate. The city currently has nearly 140 hotel establishments, with a total of 9,600 rooms; with half of them in 4-star projects, followed by 5-star projects with 22%, showing the higher investment in higher category projects over the last years. Since 2022, the city had an additional 740 rooms in 11 new openings, almost all of them in 4-star category units. Estimated future supply over the next 3 years totals 5 new hotels with 460 rooms, half of which are 5-star properties. Residential: According to data from the SIR / Confidencial Imobiliário, over the last 12 months, there has been a slowdown in the sale values of apartments in the municipality of Porto, to which will have contributed the increase in inflation and interest rates, and consequent worsening of the purchasing power of families. In homologous terms, the supply indicators registered on the one hand a slight increase of 3% in the average asking price, and on the other a drop of the same order in the volume of properties for sale. As for demand, the number of homes sold reflected a sharp drop of 18%, with transaction values stabilizing at €2,870/m². In the rental market, the shortage of supply available on the market became more pronounced last year, with a 36% drop in the number of units on offer, and a consequent increase in the average asking price to €14/m²/month. In this context, the number of apartments rented in the last 12 months has also reduced (-20%), with the average rent contracted in the municipality of Porto increasing in the same order of values, to €13.3/m². Investment: The institutional real estate investment in the Metropolitan Area of Porto is currently going through a path of consolidation, in a context of some scarcity of institutional investment product supply. Thus, since 2022, €267 million were transacted in commercial real estate, of which only €1 million between January and March 2023. Compared to the trend in Portugal, the market is characterized by a greater weight of domestic investors, which since last year have aggregated 38% of the volume invested. Influenced by several sizeable transactions in the hospitality sector, this sector led demand, representing 61% of total investment, with €164 million, followed by the retail sector, which attracted 18% of transaction volume, with €49 million. The office and industrial & logistics markets accounted for 11% and 9% of total transactions, respectively. In a context of greater uncertainty regarding the evolution of the global economy, prime yields registered transversal increases in 2022 and the first quarter of 2023, namely to 5.50% in industrial & logistics, 5.75% in high street retail and 6.25% in shopping centers and offices.
Source: Pexels Author: Redaction In a communiqué sent to SUPERCASA Notícias , AICCOPN states that in May 2023 the Public Works market maintains a favourable evolution in the first 4 months of this year. Below you can find information regarding tenders promoted and contracts signed. Promoted Tenders By the end of April, the total amount of public works tenders promoted was 1.71 billion Euros, a significant increase of 44% compared to the same period of the previous year. Contracts Entered The number of works contracts, and reported in the Base Portal, signed up to the end of April (awarded as part of public tenders) was 625 million euros, which represents a 50% year-on-year change in a comparable period. Regarding contracts concluded as a result of Direct Adjustments and Prior Consultations, they stood at 190 million Euros, 52% more than that registered in the same period last year. Overall, the total number of contracts signed in the first 4 months of the year reached 886 million Euros, 55% more than the amount recorded in the previous year. Read more news in SUPERCASA News: Public Works Barometer - March 2023
Source: Freepik Author: Redaction The April Office Flashpoint , sent in a communiqué to the SUPERCASA Notícias , shows a year-to-date take-up of 25 500 m2 of office space in Lisbon and 11 700 m 2 in Porto. JLL is affirmed as a market driver, having been responsible for the placement of 36% of the area negotiated in Lisbon , c orresponding to 9,300 m 2 , and 21% in Porto, equivalent to 2,400 m2. In terms of transactions, there were 51 transactions in Lisbon and a further 19 in Porto for the year-to-date. Of these, JLL brokered 16 deals in Lisbon and 5 in Porto, securing market shares of 31% and 26%, respectively. Sofia Tavares, Head of Office Leasing at JLL, comments: We are very pleased to contribute to boosting the market, which at the moment needs an especially proactive approach from the agents. Companies are more cautious due to the economic uncertainty, choosing to postpone their decision processes or, at least, taking considerably more time to decide on the strategy for their premises. This is a European trend, which is not exclusive to Portugal. And he adds, in the note to which SUPERCASA Notícias had access: There is still, however, an active demand for high quality spaces, good areas per floor and that integrate sustainability concerns. As market specialists, we must, now more than ever, take these office solutions to companies and show them that, despite a more challenging economic climate, this can also be an opportunity to find new spaces that adapt to the new ways of working. In terms of market dynamics, the accumulated figure for the four months of 2023 adds up to 25,500 m2 of occupation in Lisbon , in a total of 51 operations with an average area of 500 m2. Occupancy in Lisbon is therefore 79% below the same period last year. In this period, the West Corridor was the most dynamic area, with 22% of the take-up, while TMTs & Utilities led the demand, guaranteeing 29% of the occupied area. In April, activity remained contained, with 5,570 m2 taken up, of which 34% in the Parque das Nações area. In this month, TMTs & Utilities companies were the most active, with 29% of the take-up. The activity of JLL also stands out this month, acting in 6 of the 11 deals concluded in the market. In Porto , April brought 4,000 m2 of take-up in a total of 6 operations. JLL was involved in 2 of these transactions, including the largest of 1,500 m2 . The Gaia area was the most dynamic in April, with 49% of the take-up, and Construction and Real Estate companies were the most active, also generating 49% of the monthly activity. In accumulated terms, Porto totals 11,700 m2, a 22% decrease compared to the same period in 2022. Between January and April this year 19 office transactions were concluded in Porto, with an average area per transaction of 620 m2. In this period, the Boavista CBD, with a share of 24%, and Matosinhos, with 25%, were the preferred destinations of the demand, which was dominated (share of 50%) by Construction and Real Estate companies. You can also read: Braga in the epicenter of entrepreneurship and innovation or Opinion: Real Estate Market keeps on moving
Source: Freepik Author: Redaction 2022 was a challenging year , with the macroeconomic environment exerting greater pressure on the market. In the residential segment , rising inflation and interest rates, rising construction costs and labour shortages were some of the challenges faced by the sector last year. In this new edition of the Residential Market Study 2023, Savills Portugal highlights the results achieved in 2022 , as well as the drivers and trends expected for 2023 for the regions of Lisbon, Porto and Algarve, according to information received by SUPERCASA Notícias . Portugal has maintained a privileged position as an attractive destination for foreign buyers. By the end of 2022, foreign residential investment reached 3.6 billion Euros, with a total of 10,722 properties sold. A demand that remains solid, based on strong market fundamentals such as safety, climate and living conditions, also now grounded in the growing transition to the digital economy that allows anyone to work remotely anywhere in the world. According to the Savills Executive Nomad Index cited in the study, Lisbon was considered the best city in the world for digital nomads, surpassing cities such as Miami, Dubai and Barcelona. France, the United Kingdom, Brazil, China and the United States have led the sales charts, presenting buyer profiles that focus their search on areas of greater excellence with a view to acquiring permanent or second homes in prestigious buildings of high architectural quality. Looking at the number of international buyers investing in Portugal, they may represent around 15% of the market overall. However, if we look only at the high end market, where we are positioned, foreign clients represent more than 50% of the transactions made, a value that should be maintained. This type of investor does not feel the impact of inflation and rising interest rates in the same way, and continues to consider our market as one of the most attractive, points out Miguel Lacerda, Lisbon Residential Director, Savills Portugal , in the note to which SUPERCASA Notícias had access. At the end of 2022, approximately 51,000 homes were sold in the Lisbon Metropolitan Area, a number fully in line with 2021. In a challenging year, this result saw a very residual decrease of 1.4% and was above the five-year annual average (49,540 units).The city of Lisbon accounted for the largest share of transactions in the Metropolitan Area of Lisbon with approximately 11,300 homes sold, followed by the municipalities of Sintra, Setúbal and Cascais . In recent years, Oeiras and Cascais have become the natural areas for expansion in the Lisbon residential market . Oeiras offers a market geared towards larger typologies, with projects aimed at upper-middle to upper income families proliferating. Cascais, on the other hand, stands out for the development of projects designed for the high-end and luxury market. According to the pipeline surveyed by Savills, over 4,500 new residential dwellings are expected in the next two years in the municipality of Lisbon (considering only projects in current state of construction). However, it is important to stress that at the date of publication of this report, only 32% of the residential units are available for sale, figures that prove the strong dynamics of demand. The Prime Zone, which comprises prime arteries such as Avenida da Liberdade and Chiado along with areas located in the more peripheral rings of the heart of the city, such as Lumiar, account for the highest number of new dwellings. Average sales prices for new properties in the Lisbon Metropolitan Area in 2022 fell by almost 7% compared to prices in 2021, closing the year at 5,399 €/m 2 , a figure that signifies greater stabilisation and a slowdown in the rate of growth compared to previous years, while average sales prices for used property rose by around 5%, settling at 3,225 €/m 2 . In the luxury segment (5% more expensive properties) an analysis carried out since 2011 shows that asking prices in the new segment stood at 5,000 €/m². In 2022, they reached 11,500 €/m², with constant growth over the last 12 years. Faced with the challenges that rising construction costs have imposed on the market, Savills asked three of the most important developers in the residential market in Portugal about the impact of this increase on the final price of their projects. Alexandra Portugal Gomes said on the whole, the feeling is optimistic, although more moderately. Projects continue to advance with the accommodation of the rise in construction costs reflected in the asking price of projects in the sales phase. For 2023, we foresee a continued development of new projects, with a slight increase in prices. Follow this and other subjects in SUPERCASA Notícias
Source: Freepik Author: Redaction The marketing of corporate real estate in Europe, Middle East and Africa (EMEA) has raised €25.6 billion in 2022 from more than 700 transactions, according to the latest report from JLL s Raising Capital from Corporate Real Estate sent to the SUPERCASA Notícias . Despite a 14% drop in annual investment volumes worldwide, real estate markets have managed to weather the global economic difficulties. As a result, corporate real estate sales exceeded €25 billion for the fifth consecutive year, representing a 9% increase over the average of the past 10 years. The UK, Germany and France remain the most active markets, accounting for 54% of the total value of transactions in the region. Office and industrial property represented 60% of the total transaction value in the EMEA region , industrial and logistics property alone generated €9 billion in transactions. Notable in the market were transactions such as that of Booking.coms international headquarters in Amsterdam, which was sold for €566 million in December and became one of the largest transactions of 2022. In the same month, UK supermarket chain Morrisons completed a portfolio sale and relocation for £220m (€253m). Transactions in the retail and leisure sector increased 26% to €3.9bn , with grocery and department stores recording high levels of activity as supermarkets sought to unlock capital to fund debt restructuring and shop improvements. In the healthcare sector, the value of transactions remained stable at €3bn. Nick Compton, Head of EMEA Corporate Capital Markets JLL , said in the note to SUPERCASA Notícias : in 2022 companies faced a number of obstacles that affected their growth, increased their costs and experienced downturns in some supply chains. For companies occupying their own real estate, equity release remained an attractive and viable option to generate liquidity in a higher cost environment, complementing traditional corporate financing options. We believe that privately owned or controlled companies will continue to drive this monetisation activity. Gonçalo Santos, Head Of Capital Markets JLL, explains that in Portugal we are also seeing this trend of companies selling their own properties, often involving the option to remain as tenants, in operations known as sale & leaseback. The main motivation for companies is to free up capital for investment in their business or to repay debt in view of the high cost of financing. Nevertheless, he argues, it is not yet an option widely adopted by the Portuguese business fabric, which often sees its property as an inseparable part of the business, especially in the industrial area. We believe, however, that the sale of own real estate will be a strategic option considered by more and more companies in Portugal, because besides being a source of recapitalization it also allows reducing the costs associated with the ownership and maintenance of a property. Hybrid working and ESG considerations stand out on companies agendas The move to a hybrid workplace has also been a major driver of divestment for companies , with the large-scale adoption of dynamic and flexible working models reducing overall office occupancy rates. This factor has led companies to evaluate the location of their properties, the amount of space they need, as well as the type and quality of space they should occupy. The race to achieve zero carbon in the construction sector and the risk of devaluation of buildings with low energy efficiency are relevant factors driving this activity. Nick Compton, added: despite more and more companies going hybrid, demand for high quality real estate is likely to remain robust, driven by the need to improve facilities and workspaces in terms of sustainability, ensure suitability for hybrid working models and be equally important as a factor in attracting talent. Read also: Green rentals are beneficial for decarbonisation , Algarve is one of the most sought-after luxury destinations
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