Expectations from the real estate sector grow with the arrival of Metrobus in Coimbra

The 30 years of a project that takes time to reach the ground weigh heavily, but, with the progress of work on the ground and the expectation of the suburban section starting at the end of 2024, there is a greater demand and interest in the areas that will be served by the SMM in the future, a electric bus network on a dedicated route, which will serve Lousã, Miranda do Corvo and Coimbra.

“If there were more apartments and houses, more would be sold,” Fernando Santos, president of the Parish Council of Ceira, a peri-urban area in the municipality of Coimbra, which will be served by the SMM, told Lusa agency Fernando Santos.

The complicated terrain of the parish does not help to generate more housing supply, but there is an increase in demand for old houses and some investments in buildings, he said.

This official said he believes that, as soon as Metrobus is operational, more investments may appear, possibly accompanied by changes to the Municipal Master Plan (PDM).

“I assume the metro will turn on some lights for investors. Ceira is, as the crow flies, 1.5 kilometers from Quinta da Portela [já na cidade de Coimbra] and there is a price difference of around 100 thousand euros”, noted Fernando Santos.

For the councilor of the Coimbra City Council responsible for urbanism, Ana Bastos, the Metrobus will also contribute “to greater urban densification in the city center”, which could encourage a return to the center, particularly downtown.

For this person, the review of the PDM should have the principle of concentrating and densifying, also taking advantage of the public transport network available to the city.

Ana Bastos mentioned that, on the riverfront, there is already little waiting land, and said she hopes that the passage of the Metrobus in that area will mainly promote the redevelopment of Baixa and a different occupation of Avenida Fernão de Magalhães and the surrounding area.

“We cannot intervene much in Fernão de Magalhães specifically, but, at the back of the avenue, there will be a new street that we want to have a very clear connection to the riverfront”, he clarified.

According to Ana Bastos, they have also advanced “numerous preliminary work meetings with potential developers” to ensure the densification of the urban center, “particularly in the spaces served by the SMM”.

For the manager of the Arcada real estate agency, Renato Branco, the impact of Metrobus has been felt over the last four to five years, as soon as projects began to advance, especially in peripheral areas, such as Lousã and Miranda do Corvo, due to the lack of new construction and prices charged in Coimbra.

Since the start of the works, real estate agencies themselves have used the proximity of the Metrobus as a flag, he noted, highlighting that, as the end of the works approaches, there is increasing confidence in using the project as an attraction factor when it comes to purchase.

Regarding an increase in investment in downtown Coimbra, Renato Branco said he believes that the Metrobus could be an opportunity, but the requalification of these properties could take “around ten to 15 years before it becomes noticeable”.

“Today, any building with 300 square meters of gross area [na Baixa] it will never cost less than 700 thousand euros. There has to be something that motivates the investor,” he clarified.

Marta Rio-Torto, general director of Prabitar, also considered that buyers are more concerned about “making an investment in areas with a good transport system and good access”.

“The metro is an added value that is considered and I think we still have a lot of room for growth in this context,” he said.

Marta Rio-Torto explained that she believes that, at this moment, there is no longer disbelief in the face of the works that people see and feel every day in the city, “transformed into a construction site”.

The director of Remax White Coimbra, Nuno Marques, remains in disbelief, after the city’s decades of suffering from the postponement of the project.

“Not carrying out the work ruined many lives and ruined a historic connection on the Lousã branch”, he criticized, refusing, for now, to make reference to Metrobus in property advertisements.

“Only when it is ready and working”, he assured.