Property Abroad
Blog
Blackstone is interested in buying real estate in Europe.

Blackstone is interested in buying real estate in Europe.

Blackstone is interested in buying real estate in Europe.

American giant Blackstone already has many properties in Europe and Portugal. And it plans to increase its investment in the near future. Blackstone's CEO, Steve Schwarzman, said the company is interested in buying real estate in Europe and will move in that direction as central banks become less aggressive about raising key interest rates.

More than a year ago, the European Central Bank began the fastest rise in key interest rates. There were ten consecutive interest rate hikes, followed by a pause in October where the interest rate remained at 4.5%. Restrictions on bank financing combined with inflation and uncertainty in the geopolitical environment have led to a slowdown in real estate transactions in Europe.

Schwarzman said that while the last year has been "a bit gloomy," the real estate transaction cycle should start to improve.

Recommended real estate
Rent in Portugal for 4000€

Rent other properties in Estoril 4 329,00 $

2 Bedrooms

2 Bathrooms

184 м²

Buy in Portugal for 508300€

Sale loft in Vila Nova de Gaia 550 221,00 $

1 Bedroom

2 Bathrooms

49 м²

Buy in Portugal for 385505£

Sale flat in Santa Margherita Ligure 500 759,00 $

3 Bedrooms

1 Bathroom

101 м²

Buy in Portugal for 785000€

Sale flat in Lisbon 849 742,00 $

3 Bedrooms

3 Bathrooms

158 м²

Buy in Portugal for 545000€

Sale flat in Fara with park view 589 948,00 $

1 Bedroom

87 м²

Buy in Portugal for 990000€

Sale house in Albufeira with sea view 1 071 649,00 $

4 Bedrooms

4 Bathrooms

190 м²

"Cycles always end and things return to normal," he said, adding that lower inflation is also helping to spur investment.

It was in this context that Schwarzman announced on Monday, Nov. 27, that Blackstone is interested in several real estate investment opportunities in Europe and intends to begin active purchases as soon as central banks such as the ECB ease their monetary policy. This approach will allow for a resurgence in transaction volume.

The European properties the US giant is eyeing include data centers, warehouses and student housing in various parts of Europe.

Recently, Blackstone showed its confidence in European real estate by moving its new headquarters to London and acquiring Adevinta, which owns OLX and other brands, for 14 billion euros. In Portugal, a US private equity firm is strengthening its position in tourism by acquiring the Cascade Wellness Resort in Lagos for around €50 million.

Comment