Sean Moriarty speaks at British-Portuguese Chamber of Commerce event
Sean Moriarty, CEO of Quinta do Lago was the speaker at the British-Portuguese Chamber of Comerce’s (BPCC) first Business Breakfast event of the year, held today (February 15) at The Campus in Quinta do Lago.
After a good breakfast and time to network, some 100 guests, made up mostly of the Chamber’s regional members, sat down to hear Moriarty talk on the “future of real estate in imminent crisis”.
Whilst his tone was generally upbeat regarding the ongoing demand for property in the region from international buyers, especially the US market, he focused on the lack of supply in the region that continues to push up prices, making life all the more difficult for the local population, especially those looking to put a first step on the property ladder.
This, coupled with higher interest rates causing financial strain on those in lower income brackets, creates the urgent need, according to Moriarty, for the government to intervene.
Most importantly, he cited the importance of local authorities and the business community to join forces and lobby the government for relaxation of planning restrictions, specifically to enable the construction of affordable housing for local populations both here in the Algarve and elsewhere.