Reduction of VAT in construction: Radical change in the housing market.

It is very important to have a market with a lower tax burden, able to produce more economical and more adapted to the main segment, which is the middle class. The remaining segments are niches that are very communicative, professional and well organized, but most of the market is in the middle segment.

The CEO of Avenue, Aniceto Viegas, tells idealista/news magazine about the company's first years in the real estate market in Portugal - the company has been operating in the country since 2015 - and also reveals a little about the real estate business tied up today.

With regard to the current state of the sector, particularly the residential segment, he criticizes the high tax rates in the country, an idea which, incidentally, is supported by many industry players.

"Cutting VAT on new construction would really make a difference. That would make a radical difference," he says.

In the same interview, the executive opens the door for Avenue to move into the mid-range residential segment, as the company is now only focused on the premium and mid/premium classes, as well as offices:

"If there was an opportunity for those in the middle/premium class to move into the middle class through tax revision, we would do it.