Portugal continues to be an excellent refuge for investment, even in a context of great global instability. Demand remains strong, banks remain open to financing, and licensing needs to be speeded up to maintain this dynamism.
Portugal remains on the real estate investment map, registering strong demand that should not be missed. All the characteristics of this attractiveness remain, but some bureaucratic difficulties have to be overcome to maintain demand, such as licensing times.
The demand exists, it is increasingly solid and we should not waste it, Portugal is today a consolidated global destination. We are recognized as an exceptional destination in several categories, namely for expats, highlighted by differentiating factors such as safety; climate; quality of life and cost of living.
I will remind you that approximately 10 years ago, several important legislative measures were implemented for this attraction of investment, namely the changes to the urban lease regime, the creation of the incentives of the "golden visa" or the Non-Habitual Residents Regime, or even the creation of other tax benefits for urban rehabilitation.
“Investment dynamics are increasingly sustained and should be around 2,5 to 2,7 billion euros in commercial real estate in 2022”
Currently, there is "an enormous opportunity" for investment in various sectors, such as residential, logistics, offices or hotels, which are experiencing more demand than supply, even using the example of the process of selling the Novo Banco headquarters in Lisbon, which attracted 3 billion euros in interested capital and received 30 proposals from NBO's in the first commercialization phase.
On the attractiveness of Portugal’s biggest Cities of Lisbon and Porto, I highlight that both Cities continue to be much sought after for its potential growth, and that the weight of some investors, such as Americans, increases. In my experience, many investors who have invested in Lisbon and Porto in recent years, no longer find opportunities or have already invested what they had to invest, but there are other interested parties, which leads me to conclude that they should additionally attract other investors.
Additionally some side effects of the pandemic or the war in Ukraine are an opportunity for Portugal. Portugal should take the opportunity to capture as much investment as possible. This is the time to realign strategies and define them for the Country. If we do, we will have a great opportunity to attract other types of investors, with greater capacity to settle and stay in Portugal.
Large-scale investors have an enormous desire to come to Portugal, but planning is very important to create security. Today the rents are higher than a home mortgage, and there is a lot of market that is not being served, there is a huge opportunity here to attract investment. We are a small market that is getting bigger and bigger, and we also need housing to continue to attract the talent that is interested in Portugal.
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