Crowdestate is celebrating its first year in Portuguese market.
One year has passed and we were able to support the financing of 14 different projects in 22 tranches, totalizing 1.884.000€. A first exit was also successfully achieved with the first opportunity opened back in July.
Following 7,6% downfall in 2020 because of Covid 19 impact, the Portuguese GDP registered a 4,9% growth in 2021. According to the Bank of Portugal, despite this uncertainty context with the war in Ukraine and higher inflation rates, the growth path continuation is expected in 2022.
Portugal’s real estate market continued its growth in 2021. The residential housing market had its best year ever with more than 190.000 houses sold, reaching a total volume of 30 billion Euros, with more than 10% of this volume sold to foreigners.
In 2021 the housing price index rose 12,4%, after 8,4% in 2020, and 9,6% observed in 2019.
On other real estate sectors, as per the Cushman & Wakefield proprietary database in 2021:
- the office market had a year-on-year growth of 17% in Lisbon and 5% in Porto; 5,7% vacancy rate in Lisbon, 8,9% in Porto;
- in the retail market, 540 deals with 231.400 sqm were registered, representing a year-on-year increase of 4%;
- in 2021, the industrial and logistics market more than doubled the amounts recorded in 2020 (+106% year-on-year), accounting for 706.000 sqm.
- the hospitality market registered a strong recovery in 2021 and a total of 70 new hotels were opened representing 4.580 new rooms, of which 1.540 located in Lisbon and 960 in Porto.
Crowdestate´s prediction for 2022
For 2022 the Portuguese real estate market is expected to continue its growth path. The number of new construction licenses issued by city halls during the first two months of 2022 increased 5,8% (3.226), and as for the number of licensed dwellings in new constructions, in these two months, there was an increase of 19.8%, in homologous terms, to 4,897.
We will continue to source the best Portuguese based investment opportunities for Crowdestate investors. We also currently have an open investment opportunity from Portugal.
Crowdestate is one of the very first real estate crowdfunding platforms, established in early 2014.
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Have questions about real estate crowdfunding? Here is our blog post about 7 things you should know about real estate crowdfunding.