Housing in Portugal: more homes are needed, warn developers

Housing in Portugal: more homes are needed, warn developers
02 Feb 2023

What to expect from this year for the sector? Will more houses come on the market? Will they be enough? The property developers have the floor.

 

There is a problem identified by everyone in the housing market in Portugal and that has already jumped to the centre of the Government’s most immediate priorities. Speeding up licensing processes, increasing the supply of homes, namely for the middle class, and boosting the rental market. These have been some of the measures demanded by the various players in the Portuguese real estate sector in recent years to correct the situation, which has, however, been worsening. What has been done and what still needs to be done in the real estate development sector? Idealista news takes an X-ray of the market and gives a voice to those who invest and have the responsibility of developing residential projects that, even with delays, get off the drawing board, but are increasingly expensive – both for those who build and promote real estate developments, and for those who want to buy a house. (…) Is expected a strong impact of inflation on property development. (…) On Bondstone’s side, Frederico Pedro Nunes comments that there is in Great Lisbon a “strong unbalance between demand and supply”, which “has had a significant impact on prices”. This scenario leads to the continuous launching of new developments “with commercial success, but which cannot respond to all segments”. “To achieve this it will be necessary to make a concerted effort between public and private entities to reduce and/or eliminate the context costs already identified, namely fiscal (VAT, AIMI, IMI and IMT), and the licensing deadlines, and in this way allow an increase in supply at a lower cost”, points out the company’s COO, appealing also to the stimulation of the rental market. (…)

 

Read the full article here

 

More News