Despite the current context of uncertainty, the study ‘European Property Outlook H1 2025’, published by BNP Paribas Real Estate in partnership with Worx, paints an optimistic scenario.

The analysis points to signs of a positive turnaround in the sector, supported by falling inflation and the gradual easing of key interest rates, which are easing access to financing, even though debt costs remain higher than in previous years. This scenario creates conditions for the return of more alternative investors, filling the gap in the absence of traditional core investors, according to the study reported by idealista.

Although the instability of global trade policy generates some caution, the outlook is optimistic: the volume of investment in Europe is expected to grow, on average, by 7% per year over the next five years. For Portugal, the report predicts an average annual growth of 5% in the same period.

Lisbon appears particularly well-positioned in the analysis: among 18 European markets, it is considered the 3rd capital with the greatest potential for appreciation in the office segment, the 4th in shopping centres and the 8th in the logistics sector.

Despite high yields, which are expected to remain in the short term, the expectation of capital appreciation, driven by rising rents, is leading investors to strengthen the active management of their portfolios to ensure attractive returns.