Portugal will never have immigration bubbles, Ramalho declares.

House prices in Portugal have risen significantly in recent years, but this does not mean that a property bubble is developing in the country. Former New Bank CEO Antonio Ramalho said this on the first day of the Portuguese Real Estate Summit, in which Idealista is participating as a media partner. The event also awarded the best real estate projects in Portugal and Spain.

"House price growth is occurring at a moderate speed, with unfavorable base effects and tighter financial conditions. Demand remains robust but the number of transactions is declining," Antonio Ramalho said on Tuesday (September 19) at an event that ran until Wednesday in Estoril. He also emphasized that, despite the opinions of some people, Portugal is not and will never have a property bubble.

"The rise in prices is not related to an increase in household debt," says Antonio Ramalho. He pointed to several reasons that support his view.

Former Minister of Economy and Digital Transformation Pedro Siza Vieira also ruled out the possibility of a property bubble in Portugal. "What António Ramalho has shown shows that the Portuguese market is really very mature, where the majority of Portuguese people own their homes, a large part of these almost two million families have almost paid off their loans," he said.

"Unlike other peripheral markets, Portugal remains a low-risk market due to its location. I cannot say that Portugal is the best real estate market in the world, but it is one of the best," emphasized the former New Bank CEO at the event.

The winners of the Iberian Property Awards are already known

In parallel with the Portuguese Real Estate Summit 2023, in which Idealista participates as media partner, the best practices, projects and participants in real estate investments in Portugal and Spain in 2022 were highlighted.

The winners of the first edition of the Iberian Property Investment Awards were announced on Tuesday evening (September 19) at the Casino Estoril in five categories, the event's organization said:

• Deal of the Year in Portugal: Merlin Properties - Liberdade project, represented by consultants C&W and JLL;
• Deal of the Year in Spain: Greystar - 2,500 units of the Flex Living portfolio, Madrid;
• Green Asset Initiative of the Year: Aedas Homes - Fioresta, Alicante;
• Social Initiative of the Year: Lar España - Kilometros Solidarios, Alicante;
• Investor of the Year Report: Sonae Sierra.

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