There are many opportunistic investors closely following the Portuguese real estate market, waiting for forced sales from owners in difficulty and especially in the hotel sector. Following the national and international market trends of the last few weeks, Portuguese real estate is and remains a market that attracts renowned international investors. But the situation and the times we are going through, not only at national level but also internationally provoked by Covid 19, have once again opened the doors to such "vulture investors", who are only waiting for hopelessness and sales in our real estate market. It is necessary to tell everyone and whoever wants to listen or not, the Portuguese real estate market is stable, we believe in a recovery of the market for a short time and not later than in the summer of 2021. However, we all know that the moratoriums on rents and bank loans, will not be for eternity, but they can really ensure that prices will remain high until the second half of 2021. Given what has been published by Eurostat this week Portugal is above the European average which respects the rise in property prices during the Epidemic, and as such should also remain at that level. One of the points that makes us have this conviction of security and bet on our real estate market, is on the one hand the lack of alternative in the international markets that compete with us, having the same more problems as us with the pandemic, refugees and economy. This crisis does not originate in banking, there is no real estate bubble in Portugal, because there are developed countries that are more willing than us to such a bubble. But neither can we ignore the world in which we live, with elections in the United States, conflicts in the Caucasus which may involve some international powers and create even more instability in the international economy. World pandemic, fireproof democracies because of the falsified news and much more. So, nobody has that crystal ball, but following international news and trends. Portugal is one of the countries that offers the most for money, both in real estate and in security as well as in tax and the most important of all its people, its climate and its quality of life that it seeks the same everywhere and that should not exist. Portugal and its property market are stable because they offer stability, security, return, quality and above all those who can compete with us. Author: Paulo Lopes (CEO Casaiberia)

Between April and June this year, homes in Portugal increased by 7.8%, according to recent Eurostat data. Between April and June 2020, in full restraint because of the pandemic, in most EU Member States, property prices rose by 5% in the Eurozone and 5.2% in the European Union (EU) compared to the same period last year. Portugal recorded the fifth biggest rise in the EU: with the rise of 7.8% in Portuguese real estate So, what has changed since 2010? The price of houses has risen almost twice as much as their rents, how can it be? In Portugal the house prices have risen by more than 40% since 2010, and rents have increased by more than 15% in the last decade, according to the data released by Eurostat this week. Since 2010 and until the end of the first half of 2020, housing rents increased by 14.2% while sales prices rose to 25%.   Eurostat reported that from 2010 to the second quarter of 2011, house prices and rentals in the European Union (EU) had a smooth and similar rise, however it was from the third quarter of 2011 that the trajectory was no longer similar. Then follows a significant increase in early 2015, and since then house prices have been rising at a much higher rate than rents at the same time. Thus, there has been since 2010 and the second quarter of 2020 an increase in rents of 14.2% and housing 25% - this means a difference between the two indicators of 10.8% higher values in the purchase of property. But it was not only in Portugal that there was this difference, because the truth is that house prices grew more than rents in several Member States, but it was in Portugal where there was greater expression of this phenomenon, which caused house prices to rise by more than 40% and rents more than 15%. However, we must not forget the fall in prices between 2008 and 2010 from the financial crisis, which are somewhat reflected here and as well reflected in the difference of the house prices later. In 2012 the sale price of real estate was about 20% below the cost price of the property and only in 2014 were again reached values in real estate that reflected the cost of construction and the price of land in the sale of real estate. In terms of sales prices, and in the period analyzed by Eurostat, the highest increases occurred in Estonia (+100.5%), Luxembourg (+ 85.8%), Latvia (+ 77.3%) and Austria (+ 75.9%). The most lost in this period was Greece (-31.0%), Italy (-13.2%), Spain (-5.6%) and Cyprus (-3.0%) which recorded the largest declines. On the other hand, in rents, and compared to the second quarter of 2020 with 2010, prices increased in 25 EU Member States and decreased in just two, with the largest rental price increases in Estonia (+ 135.8%), Lithuania (+ 105.4%) and Ireland (+ 62.3%). The falls were recorded once again of higher volume in Greece (-25.2%) cyprus (-4.8%). Source: Eurostat https://ec.europa.eu/eurostat/web/products-eurostat-news/-/DDN-20201007-2?inheritRedirect=true&redirect=%2Feurostat%2Fhome%3F

Brits are experiencing a deceptive property boom House prices in the UK rose sharply in August, marking an all-time high. This is certainly seen as an indicator of economic recovery. But economists are already seeing the next economic killer on the rise. The house prices in the UK rose as sharply in August as they did 16 years ago. Compared to the previous month, they increased by two percent, according to the much-publicized index of the building credit society Nationwide. This is the biggest jump since February 2004. In the country, prices are thus 3.7 percent higher than in the previous year. A home costs an average of 224,100 pounds (251,300 euros), the highest since the Nationwide index began recording in 1991. As a result, house prices have recouped all the losses they recorded in May and June and are at a new all-time high, Nationwide’s chief economist said in London at the end of September.. The real estate market in the UK is receiving considerable attention as an indicator of economic development. As of March, transactions had stalled for weeks during the Corona lockdown. Britain has experienced a sharp economic downturn as a result of the pandemic. In March and April combined, the economy lost nearly a quarter, or 24.5 percent, compared to the same period last year. Observers therefore point out that the current jump in the price of the real estate market is partly due to the pent-up demand from that period. However, property inspections were among the first easing of the restrictions allowed by the government. Added to this is the tendency for buyers to look for more space now! In addition, the market benefits from the special effect of a reduction in the so-called stamp duty that is due in a transaction. By the end of March 2021, home purchases up to a value of more than 500,000 pounds will be exempt from the levy. Buyers save up to 15,000 pounds. For more expensive properties, the tax is reduced accordingly. Finally, low interest rates help with financing. After months in their home office, British buyers are now increasingly looking for more space in the hope of a permanently reduced need to commute to the office, so now a  larger radius to their workplace is an issue and thus also the subsequent price increases in the rural areas around the largest urban centers. 15 per cent of respondents to a Nationwide survey in May, due to the experience of the lockdown, now consider moving from the city centers and small units to greater units into the rural suburban areas. Many observers, however, are skeptical that the positive figures of recent weeks show a longer-term trend. Most forecasts in the British journals assume that the labour market will weaken significantly in the coming quarters, due to the long-term consequences of the pandemic and the end of government programs. If that happens, it is likely to significantly dampen developments in the UK property market over the next few quarters. The short-time work program launched by the government ends in October. The Economists expect a sharp rise in unemployment in sectors that have so far been heavily affected by this aid, as well as in many other European countries. Will House prices in the UK slump by 16 per cent? The Office for Budget Responsibility, which makes forecasts for the UK government, believes a 16 per cent fall in house prices is possible in a worst-case scenario. If the current boom ends with a crash, it will drive 11 percent of homeowners into over-indebtedness, the calculations show. 130,000 households are considered a risk group because they took out a mortgage and paid less than ten percent of the purchase price directly with their own capital. Source: Welt  

Oeiras Chamber will invest €100 million in tourism accomodation and infrastructure Recovery of historical heritage and several new hotels are part of the new strategic plan for tourism and hotel development. Oeiras will present by the end of this year the new strategic plan of tourist and hotel development of the municipality. The municipality that stood out mainly for the investment in business and technology parks, now also wants to bet on tourism and leisure. As such the municipality wants to open ten hotel units by 2024 and is betting headlong on the recovery of historical assets with an expected investment of €100 million by the municipality itself. Moving forward with the recovery of some of the oldest and most emblematic buildings in the area translates this investment into €80 million for the rehabilitation of the old heritage, plus an investment of €20 million in the construction of a congress centre. Source: Expresso

Foreigners increasingly buy homes with values above the national average On average, non-residents paid 176,400 euros per property in Portugal, a figure that is 56.8% above the average global value of the real estate Portuguese. However, it is also true that they are buying less real estate in Portugal, but for increasingly higher values and far from the average price practiced in the country. In 2019, non-residents accounted for about 13% of the total value transacted in the Portuguese real estate market, remaining the Portuguese leader in transactions with a volume of 87%. These data were released on September 22, by the National Institute of Statistics Portuguese (INE), so last year, 230,776 properties were transacted in Portugal in the total amount of 25,955 million euros. This means that the average value of real estate has been 112,400 euros. The share of the purchase of real estate in Portugal during this period by foreigners and non-residents were 19,520 (8.5%). However, they paid 3,443 million euros for these properties, representing 13.3% of the total. Thus, the number of properties purchased by non-residents decreased by 2% between 2018 and 2019, but the total amount paid for them increased by about 1%. French are the ones who buy the most, Chinese who pay the most. In 2019 the French or descendants of French origin, returned to be those who buy more properties in Portugal, representing more than 18% of the acquisitions made by foreigners. The British, on the other hand, represent those who buy the most properties of Euro 500,000 or more. In all, in 2019, 976 properties above this level were sold to residents abroad; of these, 252 were bought by Britons. After the French and the British are the Chinese who pay the most for real estate in Portugal. Last year, the average amount paid by the Chinese was 373,000 euros per property, more than double the average value of properties sold to residents abroad.   Source: Business Journal and INE

A sign of this trend and the example of the French Entrepreneur Claude Berda who is now also debuting at Graça in Lisbon. The French millionaire's company will invest €25 million in a luxury residential project in the historic centre of our capital. Situated on a plot below the viewpoint of Nossa Senhora do Monte, in Lisbon, this project in the historic center of Vanguard Properties will be named "Torres do Monte". The objective for this project is to create a building from scratch in the area of Graça that has size and a relevant deployment area to build the first super-premium building in the historic area of Lisbon, with finishes in line from what was done by Vanguard Properties in Castilho 203, building that counts Christiano Ronaldo as one of the owners. Terraços do Monte will be implanted in a plot of 1500 m2 where a building with a gross private area of 3300 m2 will be built on five floors . The project foresees 28 apartments since T1 and T4, between 60 m2 and 200 m2, around €7,000 and €10,000 per square metre. This building will also have in addition to a modern gym, SPA, swimming pool and 63 parking spaces. What has been seen in Lisbon and Porto is that the luxury segment where Vanguard is positioned continues to recover, without having been affected by the pandemic, with the exception of two or three weeks of outage at the end of March. Contrary to what has been happening in many countries, Portugal has not lost the attractiveness that is characteristic of it. And real estate investment is different from investing in the Stock Exchange, which is a volatile and risky market. Our country remains attractive and is one of the safest places in the world, so it must be concluded that the real estate market in Portugal may be affected in some segments, but we must conclude that in the medium and high segment demand remains unchanged. Source: Expresso

ECJ decision on housing deficit Cities may ban Airbnb rentals Two Paris owners have to pay a fine of 15,000 euros for renting an apartment through Airbnb without authorization. On the other hand, they have gone to the highest court in Europe - and will suffer a setback. The judges have thus established case law for these cases and a legal basis for other EU metropolises. In the fight against the housing deficit, EU countries can restrict short-term rentals through platforms such as Airbnb. This was decided by the European Court of Justice. Leading EU judges have confirmed a French regulation that short-term rentals in major cities with more than 200,000 inhabitants and near Paris require a licence. This does not violate the EU Services Directive, provided there are overriding reasons in the public interest. And the fight against the housing deficit is a very strong reason. France has introduced such a permit requirement for the greater Paris area and all cities with more than 200,000 inhabitants. For non-compliance, the owners of two studios in Paris were fined 15,000 euros each. They had to offer the apartments back to the normal rental market. The owners then called the French High Court. And it has appealed to the ECJ to clarify whether the national directive complies with European law. Yes, the court ruled. The application for authorisation aims to create a system to combat the housing deficit "that take into account the deterioration of the conditions of access to housing and the worsening of tensions in the housing markets, an overriding reason of general interest". The measures are proportionate - the desired objective cannot be achieved through softer regulation. Source: ntv.de, jug / dpa / AFP

Here are the 25 most important technology tips that we believe will define the next decade. Technology is increasingly in everyone's focus and interest, but where will it lead us? And Portugal, can't we be one of the engines of innovation? We believe that it is mostly data and artificial and digital intelligence. Artificial intelligence (AI) and machine learning The growing ability of artificial intelligence and systems to teach and act intelligently will change the world as we know it from scratch. AI is the greatest technological turning point of our time and is also the driving force behind many other innovations that emerge and will still emerge. Big Data and Augmented Analytics Big data is the exponential growth of the huge amounts of data generated by everyone around the world and every day. And Augmented Analytics (Automated Data Analysis) can read and digest this huge amount of data and converts it into concrete commands or recommendations. From there, we opt for information on extremely complex and diverse data flows and we can use digital information to our advantage. Internet of Things (IoT) The Internet of Things is the name given to smart devices that communicate with each other over the Internet. From smartphones to smart coffee machines and toasters. The mission of these devices is to continuously collect and forward data to provide us with better services, further driving the growth of big data and AI. Wearables and cyborgs Portable, miniature-format computers that we use in the body that increase our human capacity and promote a lifestyle that is supposed to be healthier, safer and more efficient by monitoring our body data in real time. Already today, and no longer only in Hollywood movies as a future scenario, cyborgs have been the fusion of human people and technology that may turn out to be a kind of "optimized people" or "trans human gone". Smart urban spaces and smart cities It belongs to the IoT division and is the concept of connecting entire cities and their urban spaces through digital innovations, making them technologically more advanced and efficient, i.e. #smarter, like the Burj Khalifa in Dubai, which is completely autonomously controlled and thus operated and optimized efficiently in terms of energy consumption. Blockchains and Distributed Books Technological data on so-called blockchains are current data blocks in different places like decentralized account books.  Therefore, this is a secure and new way to store, authenticate, and protect data. It has great potential and will revolutionize many aspects of the business and turn it into the most important aspects of highly confidential transactions in the financial sector. Cloud computing and edge Cloud computing is when you store your own data on the computers of specialized service providers and can access it anywhere over the Internet. This allows companies and their data to be shared securely with multiple actors, so a wider range, see Teleworking. In edge computing, the next phase of development, data is not processed in a central data center, but at the "edge" of the network, at the point of its creation on local smart devices (such as smartphones). Augmented Realities At the heart of this development is virtual reality (VR), this trend of the proportion of new options for the virtual reality experience is helped by computer and includes augmented reality as well as (mixed reality).  Thanks to these technologies, we can already visit homes remotely and with VR glasses. Digital Twins This is the digital copy of a solid body of an object, product, process, or ecosystem. With this new technology, it is possible to test variations and adjustments that would not be performed on the actual physical object due to the risks and costs involved. The best example comes from high-performance motorsport, where cars today are tested in the digital wind tunnel, and where digital twins drive many laps before the physical race car is built. Natural Language Processing (NLP) The processing technology of natural language machines. This technology has and is drastically changing communication and interactions between people and machines. Today, NLP algorithms can read, summarize, write, text messages for us. In the future, more and more companies will move to automate communication channels with their customers through these text-based interfaces or dialog systems, such as chatbots. Voice user interfaces (SBS) and chatbots Alexa, Siri, chatbots – for many of us, direct communication with machines is now common, for example, by entering the voice or typing in texts. In the future, more and more companies will move to automate communication channels with their customers through these text-based interfaces or dialog systems, such as chatbots. Computer Vision and Facial Recognition The machines can talk so you can see too! This technology gives machines the ability to visually process, analyze and interpret the world around them, with facial recognition being a particularly illustrative example. Robôs e Robótica Os robôs de hoje são mais espertos do que nunca, aprenderam a compreender o ambiente e a fazer as suas tarefas por si mesmos. Em algumas áreas, é provável que o futuro do trabalho se baseie numa colaboração perfeita entre humanos e seus colegas de máquinas, como os robôs que trabalham em hospitais e comandam em algumas tarefas, como a eliminação de bombas nas forças especiais.   Autonomous vehicles In the following decade, vehicles of all kinds, such as passenger cars, taxis, lorries and even ships, will be fully automated, without human intervention, capable of driving and being commercially usable. 15th 5G This gives us faster, smarter and more stable use of wireless networks.  As a result, many of the main trends continue to be driven. Genomics and Genome Editing Advances in data processing and data analysis have ensured that today we have a detailed understanding of human genetic material and can manipulate it to our benefit. Today, we can change the genetic structure of living organisms with targeted interventions, such as correcting DNA mutations that lead to carcinogenic diseases. Co-creativity and enhanced design Thanks to artificial intelligence, machines are now able to perform more complex activities than they were 10 years ago. This also allows them to gain a firm standing position in creative areas such as art and design. Therefore, development processes are even more likely to change towards closer cooperation between humans and machines. Digital platforms Social networks, apps, streaming and online platforms that simplify our lives and are available from our smartphone with one click. They are networks that facilitate interpersonal contact and day-to-day exchange.  This development transforms traditional business as it was thought and brings traditional companies to a realignment and introduction of platform-based business models. Drones and unmanned aerial vehicles These flying devices have changed military operations. But the influence they exert does not stop there.  That is why, in addition to commercial drones, they act in firefighting, justice, transport and others, autonomous flying taxis and passenger drones will not take long to become part of the general urban landscape. Cybersecurity and Resilience As companies and government agencies in today's world face a constant and unprecedented threat to their networks, computer systems and data.  It will be increasingly necessary to ensure the self-protection capacity of companies in some way. This is one of the basic prerequisites for any entrepreneur to ensure business success over the next decade. Quantum computer Quantum computers High-performance computers that can solve seemingly insoluble problems.  They will make our current computers look like the electric typewriter of the 1980s with the first Mac. But the first supercomputers (quantum computers) are already currently being used in companies that analyze climate and climate change, medicine and vaccines for simulation purposes and to accelerate development. Robotic Process Automation (RPA) RPA is the automation of structured and repetitive business processes to enable workers to achieve more complex tasks and oriented to the added value of the human hand and to make the added value of human work at the foreground. It is part of a trend that wants to automate all the repetitive activities imaginable that affect all industries. Mass customization and micro-moments Mass customization is the ability to offer large-scale products or services tailored to individual needs. This takes the "micro-moments". Micro-moments are the knowledge of how to respond to customer needs at the right time in order to create unique customer experiences. Both are reachable through technologies such as AI, big data and analytics. It is with this technology that companies like Netflix can recommend us the best movies. 3D printing and additive manufacturing In 3D printing, three-dimensional objects are constructed layer by layer, allowing companies to develop and create completely new products. Today, entire houses and human organs can already be printed in three dimensions. Research in Nanotechnology and Materials The growing ability to understand material structures and control matter on a tiny scale leads to the development of promising new materials and products such as virus-rejecting fabrics, self-repairing evidence, as well as mobile phones and foldable displays.

Demand for the German market for the Algarve is increasing, with an increase in the sale of air travel to the region under a campaign that brought together Turismo do Algarve and the German airline Eurowings.  The German market is the second most significant for the region, in number of tourists, after the United Kingdom, and has been, over the last three years, the biggest target in the promotional strategy for the destination, by Turismo do Algarve.  Eurowings, which provides eight connections between Faro and different German cities, is one of the airlines with which Turismo do Algarve is operating identical campaigns, and actions are also taking place with Ryanair or Easyjet, which also fly to Germany, until the end of the year.  The digital communication campaign, with a promotional video under the motto "Die Algarve tut dir gut" ("The Algarve looks good to you"), and which has reached 120,000 views. This promotion that the Algarve launched during the months of July and August, is already getting very positive results.  In this sense, it is planned, by the end of 2020, a strengthening of the 'online' campaign with the German market, through the promotion of content related to golf, nature tourism, cycling, tours, culture and gastronomy.  As the German tourist is fond of differentiating experiences and the authenticity of the Algarve his motivation for a visit to the region is very diverse, and as such the promotion of the region must accompany this requirement.  Last year, the Algarve recorded the visit of 360,000 tourists from Germany, which resulted in approximately 1.9 million nights, a figure corresponding to a growth of 15% between 2014 and 2019.  Hotel occupancy in July this year in the Algarve fell 60.2% compared to the same month last year, with an average overall occupancy per room of 33.2%.  Thus the Association of Hotels and Tourist Developments of the Algarve (AHETA) reports that the British market was the one that most contributed to the descent, with a drop of 91.1%.  The other markets with the most declines last July compared to the same period were the Irish, German and Dutch markets.    Source: LUSA  Picture: Julius Silver by Pixabay 

Some economists had expected the corona crisis to slow house prices. But recent figures show significant increases.  The Corona crisis has not given property buyers a chance to buy cheaper prices. In the second quarter, prices for apartments and houses in Germany continued to rise. According to an initial estimate by the Federal Statistical Office, property buyers had to put on the table 5.6 percent more in recent months than in the same quarter of the previous year. Compared to the first quarter, apartments and houses were 1.4 percent more expensive.  These figures are only a quick estimate, which is fraught with some uncertainty, the Wiesbaden statisticians warned. But the numbers are not a big surprise: after all, real estate prices have been on the rise. At the beginning of the year, for example, the experts of the Federal Statistical Office reported a rise in real estate prices of 6.8 percent in the first quarter, and an annual rate of 0.3 percent in the final quarter of 2019.  No Corona Discount  Those hoping for a Corona tee shot were disappointed. "It would have been conceivable that property owners would have to sell because they were in financial distress – but that has not been the case so far," says real estate expert Reiner Braun of the analysis institute Empirica. "With generously granted measures such as short time working allowances and housing benefit, the Federal Government has prevented major rent losses and mass redundancies. There were no emergency sales that could have depressed prices." The big question now is whether this will change if there is a second wave in the corona crisis.  In the long term, however, according to experts such as Braun, house prices will continue to rise even after a possible dent. "We simply have too few apartments and too little building land. This suggests that prices continue to rise – especially as interest rates remain so low."  Off to suburbs  In search of an affordable property, therefore, more and more Germans are migrating from the big cities to the suburbs. Because there you can actually find cheaper properties: Those who are willing to move out of the city for up to an hour drive distance can save up to 52 percent when buying a house, according to a recently published study by the real estate portal Immowelt.  The closer to town you look to a property, the lower the price advantage, after demand – and prices – have risen sharply there in recent years.  Nevertheless, it should be noted that many of the existing properties in the surrounding area require renovations, which must be added to the purchase price. In addition, according to Immowelt, the houses are often located right by the road and not necessarily corresponding to the full wish of an idyllic country life, especially in the smaller villages. Nevertheless, there are numerous properties that are either newly built or renovated and are nevertheless significantly cheaper than within the city limits.  Corona will make the suburbia properties more expensive  For the study, Immowelt examined the prices of single-family homes in eight selected cities and their surrounding areas. The biggest savings are in the Frankfurt area: instead of 695,000 euros in the urban area, houses in the 60-minute zone cost an average of 337,000 euros. In percentage terms, the difference is greatest in Hamburg (49 percent) and Stuttgart (47 percent).  In Munich, too, the price differences are glaring while single-family houses in the city cost 1.19 million euros on average, with a one-hour commute they are 649,000 euros. This is a saving of 45 percent, or just over half a million euros. It is noteworthy that a house in Munich within a 60-minute radius is still more expensive than one directly in Berlin, Hamburg or Cologne.  Immowelt expects the Corona crisis and the increasing introduction of home office work to increase interest in the Suburbs. It opens the possibility for many families to live further outside the cities. "This would allow demand to be more distributed in the future and prices to be more adjusted."  The data base for the calculation of the purchase prices was created from offers posted on the Internet portal. Only offers that were increasingly in demand were considered. The prices give the average of single-family homes offered in the second half of 2019 and the first half of 2020 as well as in the same period of the previous years.  Source: Article from 26-8-20 In the Handelsblatt  Picture: Imagem: Holger Kraft by Pixabay