Profoundly familiar with the reality of the neighboring country, the Portuguese ambassador to Spain rejects that in Portugal "there is a real estate bubble similar to the one lived in the Spanish market". Francisco Ribeiro de Menezes, in statements to the idealist / news, admits that "one must be alert to the evolution of house prices in Portugal", in line with what the European Commission (EC) argues, but rejects the existence of a real estate bubble right now.

 

"We are a long way from this," says the Madrid-based diplomat, recalling that in Spain "a completely different economic and social situation was experienced" when the real estate crisis broke out, registering its worst moment in the years 2013- 2014. "And these conditions do not happen at all in Portugal, I´m sure," he reiterates.

 

Since 2008, house prices have accelerated significantly in Portugal, registering a real increase in the order of 10%, generating signs of "overvaluation" in the market, for which Brussels has been requesting special attention.

 

Ribeiro Menezes shares this concern and warns that, in this context, "the rights of residents, allocators and owners need to be safeguarded", but he says he is convinced that "the Portuguese, central and local authorities are very aware of what is happening and to take the necessary measures ".

 

The ambassador of Portugal in Spain also tells the idealist / news that "the country is now provoking a lot of interest among Spanish companies and investors."

 

Portugal is fashionable internationally and Spaniards are on the rise. "They are giving more and more signs of surrendering to the Portuguese charms and potential of the country", be it business or tourism, he points out.

 

The real estate sector is, alias, "one of the focus of this interest", says the diplomat, stressing that "it is natural that Spain, with the tradition and experience that has in this sector, and learned the lesson of the bubble that has lived, pay so much attention to Portugal at this level, especially in a moment of such dynamism ".

 

By: Tânia Ferreira