The Portuguese real estate market broke records in 2018, boosted by the commercial real estate segment, according to a JLL report released on Wednesday. According to the real estate consultant, the commercial segment will have reached an investment volume of 3.3 billion euros.
In the housing segment, the number of homes sold increased 19% and prices rose above 10% in the country and 20% in Lisbon, the company said.
"The real estate market once again surprised us in 2018, above all by the intensification of the pace of business completion, thus exceeding previous year's activity levels, already very high and record in many segments," said Pedro Lancastre, CEO of JLL Portugal, quoted in the statement.
"At the moment, only supply is a real embarrassment to a greater acceleration of the activity, for not being able to keep up with the latent demand," he adds.