Three days in the center of the European real estate industry

The international real estate trade show Exporeal wrapped up last week in Munich, and I was lucky enough to be there. Despite a difficult start to the year, there was a very strange atmosphere at the show. I expressed this in my LinkedIn post, where I reported that most of the participants seemed very tired and without the vitality one usually sees. I even used the word "painful." Fortunately, by the evening of the first day, when the first stand parties took place, that feeling had faded and we were able to have face-to-face conversations in a more informal setting.

Most people still understand that real estate is a people-to-people affair and the numbers need to satisfy both parties. It is important to build strong interpersonal relationships and connect, not only through likes on social media, but also over a mug of beer or cup of coffee, because it gives you the opportunity to discuss the experiences of both parties. That is what I enjoyed the most and what makes this real estate show so special and outstanding. Here you can talk to the head of a major real estate fund of one of the leading international insurance companies in a relaxed atmosphere or to the CEO of a real estate start-up, standing at the beer tap and entertaining his guests at the booth, as was the case at PREA.

My main impression from this real estate fair in Munich is that despite all the political decisions that have shaken the real estate market in Portugal over the past few weeks, Portugal is still interesting to investors from all over the world. The fact that there is still interest from some real estate investors means that not only can I benefit from this as a business owner, but I can also work to ensure that it has a long-term effect on others in my industry.

Secondly, it's worth noting the technology we have today. Artificial intelligence is clearly on the rise, and I was surprised by the word choice of many CEOs of technology companies that no longer see themselves as saviors of real estate sales performance, but are increasingly focused on becoming a service provider for real estate professionals, whether it's sales, portfolio management, or development and investor advisory. Interesting times await us and we must utilize every opportunity and tool to help our clients find the best investment opportunities for their situation. While many aspects of our work may benefit from technological advances, the heart of real estate is still in the people who work in the industry and those we are able to serve. So I'm confident that 2024, despite all the declines in sales in everyday business, will also be a year of opportunity, just as it has been in the past. In addition, honesty, transparency and humanity should always be the aspiration of everyone in this industry.

Paulo Lopes, a multilateral Portuguese citizen who earned a master's degree in economics in Switzerland and studied law in Lisbon, is CEO of Casaiberia in Lisbon and the Algarve.