A number of “big funds” are currently considering investing in the Portuguese property market, one expert has claimed.
According to Luis Rocha Antunes, the head of Cushman & Wakefield’s capital markets group in Lisbon, investor appetite in the country is increasing now its emergency aid program has come to an end.
In its latest report, Cushman & Wakefield predicts that commercial real estate spending in Portugal will reach approximately €800 million by the end of 2014. If this happens, it would mark an increase of almost €500 million from the end of the previous year.
Mr Antunes was quoted by bloomberg.com as saying: “Portugal is on the map again for property investors. The economic indicators are positive and investor sentiment is improving.”
Like a number of other countries in Europe, Portugal was forced to go through a three-year bailout process after its economy crashed during the recession. The program finished last month and acquisitions have already risen, ibtimes.com rep orts.
Only this week, US-based private equity company Global Asset Capital purchased four commercial buildings in the centre of Lisbon. German firm Deka has also said that it will look to invest more in office space in the Portuguese capital. The fund manager only recently purchased a postal service building at a cost of €43 million.
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