A Donald Trump presidency is actually being perceived as positive in what property investments in Portugal are concerned. Investors may start choosing other destinations aboard over places like Miami and New York due to the economic instability the US may experience, property specialists have revealed.
Trump’s presidency may bring “some benefits to foreign property markets such as Portugal”, so says a report published this month by global property news service Property Wire.
“South American investors, especially from Brazil, are now much more likely to steer clear of usual favourites like Miami and New York. With a flexible golden visa programme and cheap prime real estate, Lisbon was already a strong contender to Miami and a Trump presidency will only build on this trend,” said Nerida Conisbee, chief economist at the REA Group.
Other areas that could reap the same benefits are London, a traditional rival to New York, and Australia, experts believe.
But whether this will happen depends on how the USA’s economy and dollar performs, writes Property Wire.
The news service points out that the election result saw the value of the dollar “immediately fall”, and that “a prolonged dip could have a positive effect in that investors might want to move their money to other international markets”.
“Presidential elections traditionally result in a dip in the value of the dollar, which corrects once the new president is elected and stability returns. However, a Trump victory is something of a shock to the political system and could result in a prolonged period of uncertainty and downward pressure on the dollar,” said Adriano Amorese, a construction and property expert at international law firm Berwin Leighton Paisner.
