Portuguese “have never been so rich” - the reason: rising house prices!

Digital guide explains how to invest in Portugal’s property sector

A digital guide that aims to provide foreign investors will all the information they need (in English) to invest in Portugal’s property sector has been launched for the second year straight.

Entitled ‘Real Estate Investors Roadmap’, the document was created by AICEP Portugal Global – Portugal’s investment and foreign trade agency – and the Portuguese Chamber of Commerce and Industry (CCIP) with the help of the Portuguese Association of Real Estate Developers and Investors (APPII), the JLL consulting company and the Morais Leitão law firm.

The document is described as an “essential tool to help relaunch the national economy and attract foreign property investors”.

It includes all the information investors need, explaining the “many steps that should be taken into account by investors as well as the legal framework and the constraints imposed by the Covid-19 pandemic”.

“Portugal is an excellent country to invest, do business and live in,” says the roadmap’s introduction.

“Our highly-skilled talent, world-class infrastructure, business-friendly environment and easy access to markets are among several factors that contributed to a continuous and steady flow of investments into different economic sectors in these past few years. Our geographical position as a near shore location in Europe, political stability and low operational risk are highly valued by investors as they trust a country that is open to foreign investment from all over the world,” it adds.

The creators of the guide explain that the “Portuguese real estate market was experiencing times of dynamism and vivacity, perhaps on an unprecedented scale, before the arrival of the COVID-19 pandemic.

“The health crisis we are living through and the consequent economic crisis threaten to interrupt this growth. However, many of the factors that made Portugal, and Lisbon in particular, so attractive, especially to foreign investment, have not disappeared,” they add.

According to AICEP President Luís Castro Henriques, the real estate sector plays an “important role in strengthening Portugal’s image” as a popular destination for investments.

In fact, Bruno Bobone, President of CCIP, describes Portugal as a “unique destination for investment in Europe.

“The crisis caused by the pandemic will be global and its effects unpredictable,” he says, adding that Portugal nonetheless will remain a top destination for foreign investors and businesses.

Meanwhile, Hugo Santos Vieira from APPII believes that the real estate sector can once again act as the “motor that kickstarts the growth of our country”.

By MICHAEL BRUXO
michael.bruxo@algarveresident.com