Portugal Capital Markets Market Dynamics, Q2 2025

Portugal's commercial real estate market demonstrated robust performance in H1 2025. Estimated investment volume reached €1.22 billion, with retail assets leading the market with 49%.

Retail and hotel assets dominated the semester, accounting for 76% of total investment volume. National institutional capital showed significant activity at the start of the year, while new international investors have also entered the market.

Investment outlook remains positive, driven by favorable macroeconomic conditions, robust operational performance, and continued investor interest.