Total property returns in Portugal rose to 12% in 2006, the highest return since 2002, and way above bond returns of 0.2% and inflation of 2.5%. The rise in property returns was dominated by the retail sector, which saw returns rocket by 15.9% last year, driven by strong investor demand for regional shopping centres, according to property investment indices operator IPD Global.
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
