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Real estate

Opinion: Portugal "proudly alone"

28 FEBRUARI 2024
Onderwerpen
Mercado Imobiliário Compra de Imóveis Comprar Casa em Portugal Governo Imobiliárias Investidores Estrangeiros Investimento Imobiliário Mediação Imobiliária Negócios Imobiliários Portugal Promoção Imobiliária
Filipe Lourenço, Real Estate Specialist, talks about the current Portuguese context.
Opinion: Portugal "proudly alone"
Fonte: Author
Autor: Filipe Lourenço, Real Estate Specialist

We are in the middle of the legislative election campaign, the political programmes of all the parties are known and, in general, real estate continues to be the target of ideological bias. There are parties for whom property investment is the alpha and omega of all the ills in the big cities, and talk of golden visas is synonymous with the entry of oligarchs, criminals and corrupt politicians. The rest of the parties shy away from these issues, they won't be 'scorched'.

And so we carry on, while other economies continue to benefit from the influx of capital through property. This is the case in Greece and Spain, which have doubled the value of their golden visas. Decrease the supply, increase the value. In other words, we don't benefit, others do. It's that simple.

With all due distance and respect, we appear to be on an accelerated path towards what was once called "proudly alone", in relation to our geopolitical situation; today, in relation to the economic and fiscal situation.

It's not the right policy for us to turn away billions of euros in property investment and more, just because of ideological prejudice. Yes, because golden visas are not just for this purpose.

Other European economies, but not only, such as the United States of America or the United Arab Emirates, absorb investment that could be destined for us.

Every day I see national and international investors shifting their focus to Dubai, where I go more and more often for professional reasons.

With golden visas of 5 and 10 years, investment levels that are highly competitive with Europe (€550,000), a thriving economy where property appreciation is between 15% and 40% a year (an impossible scenario in Europe), a diplomatic and geostrategic situation that benefits business with any country in the world, good relations with Europe, China and close to Australia, the UAE is a player that we have allowed ourselves to be overtaken by. And now it's too late. Every time I go there, I'm more and more convinced and impressed.

In addition to an aggressive programme to attract real estate investment via golden visas, they also offer a tax system that is unique in the world, in that some of the taxes we pay don't even exist, such as taxes on income, capital gains, wealth or inheritance, for individuals. For companies, they offer equally unique packaging.

On top of this, there is an excellent, free healthcare system, provided by the best human and technological resources. Education? Equally good, having been able to attract the most renowned academics and universities, such as Rochester or Canadian University.

But we could go on and on, listing highly valued aspects such as safety, quality of life, cultural diversity, infrastructure and much more.
I'm not writing these lines with any particular satisfaction. After all, I'd rather be writing about the strategic vision that politicians have for our country and Portugal's ability to attract investors and families who were considering moving to the UAE. But no. Every day I assist and advise families and investors of various sizes on their move to Dubai.

Onderwerpen
Mercado Imobiliário Compra de Imóveis Comprar Casa em Portugal Governo Imobiliárias Investidores Estrangeiros Investimento Imobiliário Mediação Imobiliária Negócios Imobiliários Portugal Promoção Imobiliária
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