«Real estate has been following a very positive path which is very important for the economy. It is important for that dimension to be expanded in the future», considered João Neves, assistant Secretary of State for the Economy. Nevertheless, he admitted that there are «some difficulties in forecasting the future, in particular next year», and as such, «we need to stimulate investment and demand. An economy hibernation during this period is not the solution», he believes.
«The stimulus to attract investment is very important for our future», remarked João Neves, who believes we «need to project an image of safety towards investors in the country». He further reminded that «it was with investment that we managed to recover more intensely during the last crisis».
Hugo Santos Ferreira, Executive Vice-President at APPII, added that «during times of pandemic and hardship, SIL and APPII also showed resilience. Above all, the market showed that it is alive and well. We are here to stay and ready to be part of the future», he guaranteed.
The 2020 edition of the Guia Exclusivo dos Promotores e Investidores Imobiliários (Real Estate Developers and Investors Exclusive Guide), an APPII and VI initiative, which is already considered the most comprehensive real estate guide ever made, was also announced during the event.
Real estate cannot stop attracting investment
At the end of this conference and of the exhibition’s first day, Manuel Reis Campos, president of CPCI, stated that «we need to find ways of keeping the country and the economy working under this new normal», congratulating himself for the fact that the confinement did not suspend real estate activity. He believes the sector «will undergo deep changes, but will remain fundamental for the economic recovery and job retention».
He also highlighted the importance of Portugal not losing its positioning in terms of foreign investment. He considers «inconceivable the creation of a state of unrest which would undermine everything», mentioning in particular the new restrictions to the golden visa regime which should become effective until the end of the year. This measure «is a setback and does not make any sense under the current situation», at a time when «this program is competing with other similar initiatives from other European countries».
Reis Campos also highlighted the importance of the incoming European funds, which may represent «a unique opportunity to carry out critical investments vital for our country. We should focus on seeking new ideas and new solutions».
#This news was originally published on Portuguese magazine Vida Imobiliária’s website.