The Largest Real Estate Fair in Portugal: SIL 2023!
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Loading... - Flavia Costa
- 12 May 2023
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The largest Portuguese real estate fair took place last weekend, from the 4th to the 7th of May, at the Lisbon International Exhibition Centre. It was the 26th edition of the Lisbon Real Estate Fair, with 150 exhibitors from the real estate, banking, real estate development and services sectors participating.
In these tumultuous times, it is crucial to emphasize the lasting nature of the market and industry in light of recent events, including the announcement of the government's novel initiative, "More Housing". In recent months, numerous conferences have been convened, affording industry leaders the opportunity to articulate their views and concerns about the "state of the nation" and the Portuguese real estate sector.
On the 4th and 5th of May, various issues of supreme significance to the real estate and construction industries were discussed. One of these issues pertained to the dearth of supply, which necessitates that we maintain prices at a comparable level. Secondly, the lack of political foresight regarding housing issues in Portugal and the corresponding preoccupation of the electorate, which blames the Golden Visas and the AL for all of the issues that exist, using them to bolster their own ideologies and achieve their electoral aims.
As everyone involved in this industry has come to recognize, the most significant issue is the inefficiency of public administrations in processing building licenses and projects. There are legal deadlines that the Public Administration is required to abide by, yet it neither respects them nor penalizes those who fail to comply, which further inflates the cost of construction and the entire production chain of properties for the end customer.
At the Mayors Conference, concerns about the lack of new construction in all municipalities in the country were discussed and substantiated, and how the weight of bureaucracy and the approval process of new building permits and projects are contributing to this problem.
There were several other issues pertinent to the industry that were addressed, such as the rising interest rates and the financial burden placed on Portuguese families. Similarly, there was also talk about the dearth of housing and the development of a housing policy that is better suited to the problem. This problem is not unique to Portugal, but rather a concern that pervades throughout Europe.
Following the government's announcement regarding the end of Golden Visas, the issue of mistrust over AL licenses, and the significant increase in taxes levied on them, international confidence has been affected. The concerns about changes in the rules of the game for urban redevelopment, the VAT payable, and a plan for the transfer of state land were also raised for discussion, although the information regarding these topics was still quite recent at the time of the conference.
The Lisbon Real Estate Fair also serves as a forum for professionals and real estate developers to congregate and learn more about new project launches. During this event, we were apprised of the new real estate portal of the Association of Real Estate Professionals and Companies of Portugal (APEMIP), CASAYES.PT, which is a dedicated platform for all sector professionals. It has been created with professional ethics in mind and is a place to advertise clients’ properties on a professional platform, allowing the real estate industry to attain more autonomy from the escalating costs of national and international portals.
