“In the last eight years, we have had a kind of shot at the investor with errors in tax benefits, a rental law where there were counter-reforms that took away predictability for the investor”, highlighted Miguel Marques dos Santos, partner at Vieira de Almeida, at an event organized by JE this Tuesday.
Miguel Marques dos Santos, partner at Vieira de Almeida, accused the Government this Tuesday, within the scope of an event organized by JE, of having practiced “shooting the investor” with regard to the real estate area.
The idea was presented by Miguel Marques dos Santos, partner at Vieira de Almeida responsible for the Real Estate and Urban Planning area, in the Special Report organized by JE this Tuesday and under the theme “Real Estate Challenges in 2024”.
The challenges of real estate in 2024 were discussed at the breakfast that JE is promoting this Tuesday, in Lisbon, with the participation of the Minister of Infrastructure and Housing, Miguel Pinto Luz.
Under debate will be the trends in the national and European real estate market and the measures that the new Government intends to implement in the sector, which will partially reverse those that were applied by the previous Executive within the scope of the More Housing package.
“In the last eight years, we have had a kind of shot at the investor with errors in tax benefits, a rental law where there were counter-reforms that took away predictability for the investor”, highlighted this specialist.
For the partner responsible for VdA’s Real Estate and Urban Planning area, “the measures that the Government has in the pipeline are measures that reduce the tax burden on housing and licensing fees, but we will see how they will be implemented”.
Taxation and licensing: the two biggest obstacles
For this specialist, the diagnosis “has been made” in this sector: “taxation and licensing are the two biggest obstacles. We have a lack of supply and excess demand both in terms of rental and acquisition”.
Regarding the “remedies” applied by the previous Executive, Miguel Marques dos Santos highlighted that “the measures implemented always attacked the problem from the wrong side, instead of having more supply through private participation, it was always thought about the public offer which ended up not happen.”
As for Simplex for housing, this specialist in real estate and urban planning points out “implementation errors that need to be resolved: the way the diploma is constructed creates an incapacity for practical application with a set of contradictions”.
“To have housing of sufficient size, we need the lease to work. The previous Government always made reforms that were counterproductive in terms of practical application, impossible to implement”, he highlighted.
“Every time a foreign investor asks us questions, we have difficulty clarifying why the law creates doubts”, highlighted the VdA specialist.
