LISBON, July 26 (Xinhua) -- The value of real estate investment transactions in Portugal totaled 351 million euros (413.8 million U.S. dollars) in the second quarter (Q2) of 2021, up 57 percent compared to the previous quarter, the Portuguese consultancy JLL said on Monday.

In the first half of this year, 575 million euros were invested in Portugal's real estate sector, 63 percent less than in the first half of 2020, when the economic effects of the COVID-19 pandemic had not yet been felt.

"This semester was marked by the entry of new international 'players,' and by the growing activity of national institutional investors and also private ones," JLL said in a press release.

The consultants estimated that the total investment volume in 2021 will exceed 2.5 billion euros, "proving the attractiveness of Portugal as an investment destination even in a scenario of recovery and some uncertainty."

They explained that this volume of investment will be impacted first and foremost by the greater activity of "hotel assets," in which there are "greater business prospects this year."

The "offices segment" should also grow in the second half of the year due to "the interest shown by companies in taking over spaces and the resumption of international interest."

The consultants recognized that current occupancy levels are "below those seen in previous years," but highlighted "the profound restructuring of this sector," which "drives the search for quality spaces with sustainability and efficiency criteria."

JLL concluded that "the end of the Golden Visa program in its current form in January 2022 is putting pressure on sales" for foreign buyers. The Golden Visa is a residence visa issued to non-European Union (EU) nationals who have made a significant investment in Portugal, such as purchasing real estate, making a capital investment or creating employment opportunities. (1 euro = 1.18 U.S. dollar)