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The creation of logistical hubs and last mile service points in the context of e-commerce are two trends that are boosting the real estate market in Portugal. After the logistics sector’s stagnation in previous years, Portugal is experiencing a strong expansion in this area, due to both the demand for larger spaces and the need to have spaces close to urban centres. Real estate solutions are either building new customised units or modernising and adapting existing spaces.
This dynamic follows the boost registered by e-commerce during the general confinement dictated by the covid 19 pandemic.
Paula Macedo, CEO of PDA Portugal, emphasises that, at the moment, the potential for growth is enormous, with demand being much higher than supply, with the take-up of spaces in 2020 being over 30% greater than in 2019.
Headquartered in Porto, PDA Portugal is primarily focused on the market of international investors seeking, in Portugal, safe capital monetisation opportunities with attractive rates of return. The company’s most recent focus is on the Russian and French-speaking markets, since PDA joined the Portuguese-Russian and Portuguese-French Chambers of Commerce and Industry.
Changes to the Gold Visa Regime increase demand
With the legislative changes introduced to the legal framework of Residence Permits for Investment Activities (ARI), with immediate implications until the end of 2021 and with new rules starting in 2022, the market is experiencing an increase in demand from investors who do not want to miss the opportunity to obtain their Gold Visa, which allows them to reside in Portugal and move freely within the European Union.
PDA highlights the increase in requests for information from Brazilian citizens, for both residential and commercial real estate investments.
The successive distinctions that Portugal has obtained over the last few years for being one of the best tourist destinations, one of the countries with the best quality of life or having one of the best cities to invest in, have actually placed our country as a top-of-mind destination for property investment.
This increase in demand is reflected both in property investment for housing or business and in investment for renting.