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Madalena Azeredo Perdigão, CCA ONTIER's Associate Coordinator of the Tourism and Leisure Area, spoke to Jornal Económico about the impact of the exponential tourism increase in Portugal, particularly for the real estate market that has attracted interest from international investors.
The lawyer points out that 'the demand for real estate in urban centers has reached levels never before verified, which triggered the price per m2 and put Lisbon and Oporto in the ranking of the cities with the most expensive houses in the world (reaching in Lisbon an average of €2.500/m2). They are even afraid of the problems that the overvaluation of the real estate market can bring in the long term'.
On the other hand, Madalena Azeredo Perdigão says that with this growth the housing market has been heavily shaken, leading to social problems that have to be solved. 'There will, indeed, need to exist a regulatory intervention in this area, bringing solutions and incentives to allow access to affordable housing, lower housing credit rates (at a time when acquisitions are not for all budgets), and effective social support solutions to the poorest people'.