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)