It will be another year of challenges, but Portugal is still on the radar. Here are the real estate developers’ predictions for 2023.
“Portugal is on the radar for property investment”. “Portugal is a haven for property investors”. These are some of the ideas that several players in the sector, including intermediaries, consultants and developers, have stressed over the past few years. And the truth is that the country seems to continue to be an attractive destination, whether in a private investment perspective, through the purchase of houses, for example, or in an institutional perspective, with funds that are particularly attentive to real estate business on national soil. Will this continue to be a trend in troubled times such as these, marked namely by high inflation and rising interest rates? The answer to this and other questions is given by those in the field, the real estate developers.
Portuguese will continue to buy homes
Frederico Pedro Nunes, COO of Bondstone, says he has no doubt that “the Portuguese will continue to be the main buyers of the projects that will be marketed in 2023, having represented until the third quarter of 2022 more than 85% of the transactions made”. “But Portugal has given sufficient proof that it is a safe destination for foreign investors, due to the quality of life, climate and safety,” he says, stressing that, among these, interest from the UK, Brazil and the US is growing.
Read the full article here.