Portugal must be ready to meet increased investment demand from Eastern European instability fallout

The war in Ukraine, sanctions against Russia and a climate of instability and uncertainty in Eastern Europe could mean companies and High Net Worth Individuals could shift investments away from Central and Eastern European countries like Poland, in favour of the Iberian peninsula and Portugal.

Addressing 200 guests from the real estate world at the Portuguese Property Oscars 2022 on Thursday evening, Paulo Silva, jury member and Head of Country at Savills Portugal said that despite the horrors of what was going on in Eastern Europe, the instability there would provide opportunities for an investment shift to Portugal, albeit for the worst of reasons.
“In this part of Europe we have an incredible opportunity for the worst of reasons. We are seeing an increase in demand for houses in Portugal from citizens from Ukraine and Eastern Europe.
Many multinational companies, he said, were now seeing Portugal has an alternative to Poland to relocate certain services, companies which today no longer eye Eastern Europe with such confidence, but rather see the Iberian peninsula as a safer haven.
“Here we have a clear opportunity, not just in terms of commercial property, but also in terms of residential property and we have to be prepared to have the product available to meet the demand when that demand for Portugal intensifies,” said the Country Manager of Savills Portugal.