Portugal’s real estate sector shows resilience despite pandemic
Portugal’s property fair opened its doors to investors, developers and professionals on Thursday and the signs coming from sector leaders are that the property market is showing signs of resilience and is dynamic despite the ravages to the economy caused by the Covid-19 pandemic.
“It has been a huge challenge for the AIP Foundation (Portuguese Industrial Association) to organise this edition of SIL – Portuguese Property Fair 2020/Tektonica (Construction Industry Fair) and Intercasa (Home Decorations Fair) and we are extremely pleased with the results achieved,” says Sandra Bértolo Fragoso, the fair’s manager.
She says the feedback from exhibitors has been “quite positive”. Sector professionals have wanted to be present in person with the partners, clients and competition at the conferences. This continues to be vitally important and we have succeeded in making this goal possible while taking all the necessary precautions and complying with all the rules from the health authorities”.
The first day’s events exceeded expectations with full attendance at the conferences “SIL Investment Pro Powered by APPII”.
Hugo Santos Ferreira, Vice-Executive President of the APPII – Portuguese Association of Real Estate Developers and Investors, said that, “Very important topics were discussed, from the impact of Covid-19 for the medium and long terms and respective recovery plans”.
“We also discussed financing in the real estate sector, both from traditional banks and alternative sources, as well as discussing one of the current big themes: ‘City Builders’ and the building of a proper affordable rental and housing market in Portugal.”
Hugo Santos Ferreira adds, “There was also a very important panel about European Public Policies for the real estate sector as a result of the Green Deal legal acts, Next Generation and Horizon Europe which are the public policies of the member states which will be rolled out between 2030 and 2050.
“We want to draw the developers’ attention to these programmes which will focus on the circular economy and economic growth which does not imply the excessive use of resources, and the elimination of carbon footprints. All public policies in the coming years will be based on this,” said Hugo Santos Ferreira.
“We tend to say that SIL is a barometer of the market. At the moment SIL has a lot less people, is complying with all the (health) rules, but it is one of the few trade fairs in Europe taking place. It has survived many ill winds and the sector itself has stuck by it and is here. Moreover, we’re once again together which is very important for the sector,” concluded Hugo Santos Ferreira.