At an event organized by JE and taking place on Tuesday in Lisbon, José Cardoso Botelho highlights that the licensing issue is raised by pension and investment funds that want to enter Portugal, and also warns of the “demonic” tax burden that exists in Portugal. Construction sector.
Portugal remains on the radar of real estate investors, but the tax burden combined with licensing pose obstacles to starting projects. This idea was defended by José Cardoso Botelho, CEO of Vanguard Real Estate, during the panel discussion included in the “Special Report – Real Estate Challenges in 2024”, organized by Jornal Economico and which will be held on Tuesday, April 30 in Lisbon.
“There is a lot of capital available for investment. There are many pension and investment funds to invest in Portugal, although many of them raise the issue of licensing. This problem must be resolved,” he said.
The CEO of the real estate developer warns that there is currently little construction work in Portugal due to the high tax burden.
“We have a construction project where costs are rising, with a diabolical tax burden. AIMI is absolute nonsense, but it is not the only one,” he said, highlighting the need for the country to continue attracting more international companies and investments.
“When someone offers a part for rent, they receive more than 100 offers. This shows the lack of housing that exists in Lisbon,” he explained.
