The performance verified in the first quarter of 2018 proved the forecasts at the end of 2017 on the very positive results expected for the Portuguese Investment Market.
In a total of 848 million euros transacted, the portuguese market was the stage of important transactions, highlighted by the retail segment, which added up to significant transactions. The Dolce Vita Shopping Center was bought by AXA Investment Managers in a 230 million euro transaction, as well as Blackstone sold a portfolio of Sintra Retail Park, Forum Sintra and Forum Montijo to the French company Immochan for a total of 411 million euros. Sonae Sierra and Española Armórica bought Serra Shopping for 32.5 million euros.
With an exceptional performance, the retail segment accounted for 93% of the total volume of transactions
in the Portuguese Commercial Investment Market in the first quarter of 2018, followed by the office segment which amounted to 28 million euros, representing only 3% of the total volume of investment. International investors remain in the lead, with nationalities of origin increasingly extending their spectrum. The international appetite for the portuguese market will continue to rise, with the liquidity factor being directed to opportunities in all segments, with particular emphasis on the promotion and office segments.
With prime yields hitting historical levels, the market is expected to contract slightly in the coming months, but increasingly approaching the stabilization trajectory.