Organization of the Portuguese Real Estate Exhibition in Paris defends that "there is still much investment to be made" in Portugal

The organization of the Portuguese Real Estate and Tourism Show in Paris, which runs from May 18 to 20, believes that "there is still a lot of investment to be made" in Portugal, namely in Lisbon.

Carlos Vinhas Pereira, president of the Franco-Portuguese Chamber of Commerce and Industry (CCIFP), which organizes the show since 2012, admits that in some neighborhoods of Lisbon the price per square meter has reached values comparable to those of Paris, but insists that the price average is less than half that in the French capital.

"The average price per square meter in Lisbon is 4,000 euros, in Paris it is 9,000. Now there are some places, like Chiado, like Avenida da Liberdade, where we have prices very similar to Paris prices, but we are talking about some assets, some neighborhoods, we aren't talking about Lisbon completely, "he told Lusa.

The president of the CCIFP isn't afraid that there's a real estate bubble in the Portuguese capital that, in his opinion, will continue to attract French investment in this sector.

"There is still a lot of investment to be made and great opportunities, and that is why it continues to be a success. The day that Lisbon reaches Paris prices will of course be completely different, but we still have some time to do it."

The seventh edition of the Portuguese Real Estate and Tourism Show, which will take place at the Versailles Port Exhibition Center in Paris, will bring together almost 180 exhibitors, including real estate developers, legal and tax advisors, notaries, banks and insurance companies.

Carlos Vinhas Pereira said he expects to "exceed 17,000 visitors" after reaching 16,800 last year, and his expectations for real estate sales for this edition are "between 300-400 million euros."

Since the first edition in 2012, the fair has achieved a sales volume of properties that "exceeded 2,000 million euros" and contributed to Portugal's popularity as a real estate and tourism destination.

"It was a subject that was not known in 2012. People went to Maghreb and to Spain, but rarely to Portugal. These editions made it possible to reach 3.5 million French tourists in 2017 and 39% of the goods bought by foreigners in Portugal were bought by the French," he said.

Carlos Vinhas Pereira added that the French are buying "well-situated villas and apartments" in the order of 200,000 to 250,000 euros, meaning "it's not that cheap little apartment anymore, they want quality" and many sell their apartments in France to buy in Portugal.

In addition to the cost of living, the climate and security, the tax advantages provided by the status of the non-habitual resident continues to be one of Portugal's assets.

For retirees in the private sector, for example, the status allows a tax exemption for ten years, as long as they prove that they reside in Portugal 183 days a year and have not had fiscal residence in the country in the last five years.

The retirees - mainly French and, little by little, Portuguese emigrants who return to Portugal - constitute the great majority of those who enjoy this status, and "about 10% are investors and have professions of added value."

According to the status of the non-habitual resident, activities considered to be of "high added value, with a scientific, artistic or technical character", such as architects, artists, doctors, investors, managers of companies and professions, are taxed at the rate of 20% for the income generated in Portugal.

In the program for the Portuguese Real Estate and Tourism Fair, several conferences are planned on how to invest and to undertake in Portugal, on ecological construction, health system, tourism and real estate opportunities in different cities.

The inaugural conference on Friday will be attended by the Secretary of State for Tourism, Ana Mendes Godinho, and the Portuguese ambassador to France, Jorge Torres-Pereira.

The program also has a "gastronomic village" with Portuguese products and a autograph session with Dolores Aveiro, the mother of Cristiano Ronaldo, who will take to the fair the French translation of the book "Mother Courage" on May 19.