Favourable winds, but responsibly
Through this Exclusive Guide for Property Developers and Investors, we welcome you to a real estate sector that is currently one of the most important drivers of the Portuguese economy.
Therefore, welcome to a market that captured 18 billion euros in investment last year and has grown at an annual rate of 20%, both in investment volume and in the number of transactions.
Welcome to a sector that, as one of the principal recipients of foreign investment, was able to make Portugal “fashionable” on a global scale and no longer merely an emerging and alternative investment destination. A country that is now considered a front line destination, where foreign investment in real estate assets alone was around 4.4 billion euros in 2016, with the construction and property segments representing, in recent years, half of the total investment carried out.
But, now that the years of crisis are over and with three very good years under our belt, it’s time for the sector to act in a responsible, healthy and sustainable manner, without the excesses that always end up being counterproductive.
Most of the real estate stock that accumulated during the crisis and suffocated the sector has been taken up. Now we must strive for market sustainability. We have long been signalling the need to create a balanced market again, a market that is both attractive to foreigners and accessible to Portuguese consumers, especially in the younger segment who, for the first time in many years want to return to the city centres.
Upcoming operations must be reasonable, with affordable prices. Now that the worst is behind us, we must look to the future with optimism, but also serenity, towards a market that is sustainable in the long term.
Henrique de Polignac de Barros, Presidente da Direcção da APPII
The responsibility of Property Developers
Today’s property developers have a unique opportunity and responsibility!
The tremendous growth in tourism, the resurgence of the national economy and availability of international capital, offer real estate developers the best prospects in the past twenty years... we would have to go back to the final decade of the 20th century to find a similar moment of opportunity for property development!
This opportunity must be paired with maximum responsibility. Because the impact of a well regenerated or well constructed building is fantastic. Creating new spaces with quality and comfort, which provide a better life for society, is increasingly becoming a responsibility of the property developer.
Municipal planning and regulations are not enough. Real estate developers must be even more demanding than any external governing body, and leave a legacy of outstanding urban environments. With respect for the architectural heritage and for history. Taking care of the people who will use the spaces. Creating opportunities in the primary interest of the real estate entrepreneur, because only differentiated products that respect society are properly valued.
Thus it is with great pride that Vida Imobiliária joins APPII in presenting the Exclusive Guide for Property Developers and Investors. A publication that represents a moment of reflection on the market and introduces the best enterprises in real estate development.
Enjoy your reading!
ANTÓNIO GIL MACHADO, DIRETOR VIDA IMOBILIÁRIA