The Porto Property Perspective report presents an analysis of the occupier and investment market in Porto throughout 2018. The report evidences the strong dynamics observed in the city and which has placed Porto on the international market radar.
- The office market is witnessing an unprecedented growth, displaying a y-o-y 320% gross take-up increase up to September 2018. IT and R&D sectors are driving the market. Strong demand and scarcity of supply has led to an 18% y-o-y prime rental upsurge.
- Home sales are likely to exceed, in 2018, the levels recorded at the beginning of the century and the prices continue to rise, setting new records for the region.
- Porto was ranked the 10th best destination for Erasmus students and this position is mirrored in the 26% increase recorded in the number of foreign students in 2017/2018. The amount of PBSA is still very reduced but there are around 3.000 beds in the pipeline.
- Tourism continues to increase at a high rate with +10.5% passengers landed in the city airport up until Q3 2018 reflecting an 8% hotel RevPAR increase.
- The growth in tourism, coupled with the renovation of various buildings, continues to drive high street retail. During the first nine months of 2018, over 30 new stores opened in the city’s main high street retail axes.