Despite work-at-home, offices are the preferred asset class for European investors for 2021.
The list is headed by London, despite Brexit, followed by Berlin, Frankfurt, Paris and Amsterdam, which complete the top 5, followed by Munich, Hamburg, Zurich and Warsaw, in 9th place. With 4 cities in the top 10 of investors favorites, I believe that Germany should lead the recovery of investment in Europe.
Currently, about 60% of European investors plan to invest more in real estate this year than last year. Almost 75% indicated that they intend to buy 10% or more this year, compared to last year, although the difference is evident in the various countries. In the UK, more than 80% want to invest more capital this year.
In Portugal investment in commercial real estate started timidly in 2021 due to the general confinement to which the country was subjected, including restrictions on travel and visits to properties, reflected in a strong slowdown in investment activity during the first three months of the year.
There continues to be a high interest in the Portuguese real estate market and, with the country's gradual lack of definition and a vaccination plan in progress, a very dynamic second half is expected. Portugal is perfectly on the radar of the international investment community and, at the national level, I foresee very positive developments in the investment capacity of local players. There are currently more than 2.4 billion euros of assets on sale or with ongoing processes to be launched to the market soon, leading me to believe an investment volume for the year of approximately 2.6 billion euros. Being an amount slightly below that observed last year (of 2.9 billion euros), it is still quite relevant for the national market.
Offices resist work-at-home, and are the preferred asset class...
Despite the widespread teleworking that the pandemic has brought, offices remain the favorite asset class for European investors.
At the top of preferences, there is housing followed by the industrial and logistics sector. It is in these sectors that prices are expected to show greater resilience, as opposed to hotels, retail, or lower quality offices.
In addition, investors have shown a greater focus on adopting sustainability strategies ESG (Environmental, Social and Governance), with two thirds indicating that they have already adopted the ESG criteria in their investment practices. UK based companies are the most attentive to this issue.
Sources: Confidencial Imobiliário / LUSA /
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