There is good news in Portugal, particularly for the real estate sector. The country remains in the sights of investors, who continue to find it attractive, and resilience remains the watchword in what tends to be a post-pandemic scenario. Jorge Bota, who was recently elected president of ACAI - the Association of Real Estate Consulting and Appraisal Companies, says as much. “Portugal continues to be very attractive, not only because of the quality of its assets, but also because it still offers better rates of return than our main competitors,” he says in an interview.
According to him, over the years real estate has responded well to times of crisis, a trend that will continue: "Real estate has shown its resilience, not only because it is an investment asset for longer cycles, but also because it reflects the performance of the economy like no other, which, although not brilliant over the last decade, has nevertheless been positive. On the other hand, real estate has the clear advantage of being a physical, tangible asset which, despite the crises, continues to exist, even though its value may have been affected momentarily."
ACAI, it should be remembered, was set up in 2013 and aims to promote, regulate and develop the activity of real estate consultancy, property valuation and management, mediation and monitoring of real estate business, as well as defending, promoting and representing the business interests of the sector, reads the association's website, which has B. Prime, CBRE, Cushman & Wakefield, Savills and Worills as members. Prime, CBRE, Cushman & Wakefield, JLL, Savills and Worx. Together, they are responsible for around 95% of real estate deals involving commercial property, through their provision of valuation, consultancy and/or mediation services.
“This is an association that represents entities that in the last five years have been responsible for valuing more than 118 million square meters (m2) of real estate, in addition to having placed 660,000 m2 of stores, 900,000 m2 of offices and 700,000 m2 of logistics and industrial space in Portugal, which represents the majority of commercial real estate deals in the country,” said Jorge Bota in the interview.
Source: idealistanews