Portugal will not have a property bubble, assures Ramalho.

Housing prices in Portugal have risen significantly in recent years. However, this does not mean that an immigration boom will occur in the country soon, as the demand for housing continues to exceed its supply, and the labor market remains stable. This was stated by former CEO of Novo Banco, Antonio Ramalho, on the first day of the Portuguese Real Estate Summit, organized with the participation of Idealista as a media partner. The event also highlighted the best real estate projects in Portugal and Spain.

Today, "the rise in housing prices is moderate, with unfavorable base effects and stricter financial conditions. Demand remains stable, but the number of transactions is decreasing," said Antonio Ramalho on Tuesday (September 19) during an event that lasted until Wednesday in Estoril. He also emphasized that, despite what many say, Portugal is not experiencing an immigration boom and will never face one, as noted by the Economics Journal.

“The rise in prices was not related to the increase in family debt,” says Antonio Ramalho, providing several reasons to support his point of view.

The former Minister of Economy and Digital Transformation, Pedro Siza Vieira, also rejected the possibility of an immigration boom in Portugal. "What Antonio Ramalho has shown demonstrates that the Portuguese market is actually in a very mature state, where a large portion of Portuguese people own their homes, and a significant part of the two million families have already paid off their houses," he said, as quoted by the same magazine.

“Unlike other peripheral markets, Portugal remains a low-risk market due to its location. I can’t say that Portugal is the best real estate market in the world, but it is one of the best,” emphasized the former CEO of Novo Banco at the event.

The winners of the Iberian Property Awards are already known

Alongside the 2023 Portuguese Real Estate Summit, where Idealist participated as a media partner, the best practices, projects, and participants in the real estate sector in Portugal and Spain for 2022 were highlighted.

The winners of the first annual Iberian Property Investment Awards were announced on Tuesday evening (September 19) at the Estoril Casino in five categories:

• The best business of the year in Portugal: Merlin Properties - the Liberdade project, presented by consulting firms C&W and JLL;
• Best business of the year in Spain: Greystar - 2,500 units in the "Flex Living" portfolio, Madrid;
• Best initiative "Eco-friendly Asset" of the year: Aedas Homes - Fioresta, Alicante;
• Best social initiative of the year: Lar España - Kilometros Solidarios, Alicante;
• Best investment report of the year: Sonae Sierra.

The jury that determined the winners consisted of more than 40 experts from Portugal and Spain with various specializations and backgrounds, ranging from developers and consultants to bankers.