Post-pandemic prospects for real estate in Portugal look promising, according to José Araujo of Millennium BCP, Portugal’s largest private bank.
However, the outlook for property is not totally clear and Araujo said that forecasts from real estate consultants indicate a range of possibilities.
Among the positive indicators, there is liquidity in the market and stable pricing and vaccines are available. And he said that once the frontiers open and people begin to travel to Portugal again “I believe that the prospects are good”.
Araujo explained to Real Asset Insight’s Richard Betts that the pandemic and working from home has changed the market though. A lot of people are now looking for homes with gardens outside Lisbon. The increased propensity to work at home also changed investors’ views of offices. Foreign investors are looking for offices, not so centrally located but well connected with public transport.
Click on the video above to watch the full interview or listen to the podcast below.