'Property market is at a cautious moment: participation of all players'

Cautiousness and anticipation

This sentiment is shared by several players in the real estate market in Portugal, which is going through defiant moments. The issue is, for example, the legislative changes included in the More Housing program and the measures foreseen in the draft state budget for 2024 (OE2024), to which is added the current economic environment, marked by high inflation and a constant increase in interest rates. For all this, "we are in a moment of great caution on the part of all players," says Georges Botha, president of the Association of Real Estate Consulting and Appraisal Companies (ACAI), in an interview with idealista/news.

Problems and uncertainty

According to'. 'representative, "there are projects that were feasible two years ago, but because of the rise in interest rates are no longer so."' "And in the case of Portugal, the problem of delays in the licensing process and the high tax burden, for example, adds even more uncertainty," he emphasizes.

The importance of cooperation

According to the president of ACAI, who is also managing partner of the consulting firm B.

The Association of Real Estate Consulting and Appraisal Companies (ACAI)

It should be noted that ACAI brings together the consulting companies B. Prime, CBRE, Cushman & Wakefield, JLL, Savills and Worx, which are responsible for about 95% of commercial real estate transactions through their valuation, consulting and/or brokerage services.