Portugal Stands Out as one of the Top Destinations for Real Estate Investment! Evolution of the European Real Estate Market: Outlook for 2024.
Global real estate investment is expected to rise in 2024, peaking in the third quarter. Portugal stands out as a prime destination due to its strong tourism potential. According to Savills World Research, 57% of industry experts anticipate a moderate to strong increase in investment activity, particularly in the multifamily residential and logistics sectors, which are poised to perform well due to demand outstripping supply.
While the European real estate market faces challenges, including rising interest rates that have led to a slowdown in investments, there is optimism for a recovery in 2024. The market has seen significant declines in major countries, except Spain, which registered growth in investments. Despite a decrease in residential investment, rental demand remains high due to affordability challenges.
Southern European cities, including Portugal, are expected to show resilience in maintaining price growth, making them attractive for investors seeking stable returns. As the broader European market adjusts, Portugal’s growing tourism sector and favorable conditions position it as a key target for real estate investment in 2024.
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