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'Real estate in Portugal: housing shortage, developers warn.'

'Real estate in Portugal: housing shortage, developers warn.'

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In Portugal, the real estate market has a problem that everyone recognizes and that has already become one of the most urgent tasks of the government. Reducing licensing periods, increasing the supply of housing, including for the middle class, and stimulating the rental market.

In recent years, various players in the real estate market in Portugal have demanded these measures to remedy a situation that nevertheless continues to deteriorate. What has already been done and what more needs to be done in the construction sector? Idealist/news analyzed the market and gave a voice to investors and those responsible for the development of residential projects that, despite delays, are increasingly coming to light, but are becoming increasingly expensive - both for''faced by the national real estate market, the various real estate developers contacted by idealist/news are unanimous in stating that the road to success is still long and the ultimate goal is always the same: to ensure a greater supply of housing and offer affordable housing at prices that most Portuguese can afford.

Important measures for the development of the real estate market:

  • To increase supply in all segments of the real estate market, especially for the middle class
  • Accelerate licensing processes
  • The development of the rental market is an old and relevant goal
  • Stake on affordable housing

Hugo Santos Ferreira, one of the most active members of the industry, is not''doubts that "Portugal is facing a serious housing problem".

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This problem "has been worsening in recent years due to the lack of measures taken to address it". "There is a lack of concrete measures," warns the president of the Portuguese Association of Real Estate Developers and Investors (APPII), noting that problems have been identified. "There is a need for faster licensing, addressing the issue of high tax burdens and in some cases double taxation, but above all, mechanisms need to be put in place to develop affordable housing and the rental market." According to the expert, only through the joint efforts of all stakeholders will it be possible to "bring more housing to the market in the near future," which, however, will not happen this year. "The sector's efforts should be''focused on affordable housing, middle class housing and also on sustainability, we have nothing more to look forward to,' he adds.

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