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The pandemic caused by COVID-19 has forced the real estate sector to reinvent itself and to find solutions that would prevent the sharp decline of a market that has been one of the main drivers of the economic recovery in Portugal. In an opinion piece for Brainsre.news, Vera Martinez, Senior Associate in CCA's Real Estate Department, explains how technology has enabled and will continue to enable the growth of the real estate sector and the revival of the tourism sector, especially in the city of Porto and the northern region of the country.
"If, on the one hand, the development of technology has allowed and will continue to allow the growth of the real estate sector and the recovery of the tourism sector at a more difficult time, on the other hand, the consolidation of the city of Porto as an important technological centre, constitutes a pole of attraction for companies and entities which will lead to the necessary growth of the real estate market in the northern region of the country, with new foreign residents, which will inevitably contribute to the growth of tourism", emphasizes Vera Martinez.
Once the ideal conditions have been created to invest in the development of the country and revive two of the most important sectors of the economy thanks to the technological resources now available, "it is expected that the Portuguese State will rise to this challenge, develop adequate legislation for the benefit of digital innovation, and promote the allocation of public funds in order to consolidate this reality", states the CCA Associate, who also adds that "we are certain that less bureaucracy means more investments (domestic and foreign) and, to this extent, greater growth in real estate and tourism".
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