Economy

In the Heart of European Real Estate: Insights from Exporeal Munich 2023

Three exciting and demanding days in Munich concluded last Friday, the 6th of October, offering an illuminating glimpse into the heart of the European real estate industry. I was fortunate enough to attend, and I must say, the experience was both intriguing and eye-opening. The atmosphere at the beginning of the event was...

13 Oct 2023 min reading

Three exciting and demanding days in Munich concluded last Friday, the 6^th of October, offering an illuminating glimpse into the heart of the European real estate industry. I was fortunate enough to attend, and I must say, the experience was both intriguing and eye-opening. The atmosphere at the beginning of the event was somewhat peculiar; I made a post on LinkedIn to express my initial observation that many participants seemed somewhat low on energy and almost lifeless.
However, the real magic happened on the afternoon of the first day. As the day continued, the first booth parties took place, and people began to engage in more relaxed, one-on-one conversations. It became increasingly evident that real estate is, at its core, a people-driven business. No matter how sophisticated our technology and analytics have become, the final handshake and the shared understanding of what makes a deal worthwhile remain the bedrock of this industry. It was a reminder that in this digital age, nothing can fully replace the value of personal connections, face-to-face conversations, and the simple act of sharing a beer or coffee while discussing experiences and opportunities. This is what made this real estate fair extraordinary, setting it apart from the digital landscape of social media likes and virtual networking.
From the Exporeal, I walked away with two prominent takeaways. The first is the continued global interest in Portugal as an attractive real estate market. Despite recent political decisions that have shaken the industry, Portugal's appeal remains intact. Investors from around the world still see value in certain Portuguese real estate assets. This goes beyond any specific incentives like the Golden Visa or tax advantages for non-habitual residents, both of which have faced scrutiny in recent times. Portugal stands strong at the forefront of the Investor Index, particularly in terms of tourism and unique property offerings.
The second takeaway is the ever-increasing significance of technology in the real estate sector. The rise of Artificial Intelligence (AI) was particularly striking at the event. But most notable was the shift in perspective from tech CEOs. They are no longer solely focused on pushing products to boost sales figures but are increasingly positioning themselves as service providers for real estate professionals. It's clear that the future of real estate will be intertwined with the capabilities of AI. This is an exciting development, and it places a new level of responsibility on those who wield these technologies. It's not just about implementing AI; it's about using it skillfully to benefit the customer.
The key to success remains consistent – delivering exceptional value to the customer. This commitment to excellence should be the driving force for everyone in the real estate industry.
In conclusion, the Exporeal event in Munich in 2023 was not just another real estate fair; it was a unique platform where we were reminded that real estate is a people-centric industry, a place where personal connections matter as much as numbers on a balance sheet. Portugal's appeal as an investment destination remains unwavering, and the rise of AI promises an exciting future. As we move forward, the integration of technology, meaningful relationships, and a relentless commitment to customer satisfaction will be the cornerstones of success in the real estate industry. With these insights in mind, we can confidently navigate the ever-evolving landscape of the real estate market in Europe and beyond.

Author: Paulo Lopes

Economy