Poland: the new Eldorado of the real estate market Portuguese?

This week, at the invitation of the Portuguese-Polish Chamber of Commerce (PPCC) and the Association of Real Estate Professionals and Companies in Portugal (APEMIP), a new workshop was initiated in the Polish capital between industry entrepreneurs from Poland and Portugal. The objective of this "Live in Portugal" workshop is to create a platform for professionals in the real estate industry in Poland and Portugal to showcase their services and their ability to meet the needs of this new market for real estate in Portugal.

Poland is currently the fifth largest market in the European Union (EU) and one of the countries with the highest economic growth in Europe since its EU accession. Ninety-nine percent of companies in Poland are small and medium-sized enterprises, which ensures favorable and stable growth for the country and its economy. With the war in Ukraine, Poland now plays a very different political and economic role compared to before the conflict.

The tax burden is much lower than what is practiced in Portugal, and with all this, it seems to me that investing in this market at this time is a wise decision for Portuguese companies that came to Warsaw this week to contribute. Just like in Portugal, Polish clients heavily invest in real estate, as demonstrated by the statistics in Poland, with a population preference for property ownership at a consistent 87%, compared to 78% in Portugal. However, the purchasing power of Polish clients has significantly increased in recent years, and since the climate in Poland is not always the most pleasant, the southern Europe becomes their first option. With real estate prices in Poland rising, sometimes surpassing seven thousand five hundred euros per square meter, and with an increasing number of low-cost flights taking Poles to destinations in southern Europe, along with the ongoing war and uncertainties in their own country, it seems highly probable that investing in this market is a wise decision.

However, there is still much to be done to gain the trust of these clients, as their natural mistrust and preference for fellow countrymen who can cater to their needs always come first. Therefore, we must be transparent, calm, and above all, dedicated to customer service to gain the trust of these new buyers in our country. To date, Polish clients sought more in well-known markets such as Spain, Italy, and France. But Portugal is increasingly making its mark and is on the radar of Polish buyers who invest a significant portion of their savings in properties abroad. Above all, the Polish market is a growing market, driven by factors such as its IT industry, construction, the increasing wealth of its population, and the proximity to the war in Ukraine.

All of this and more present opportunities for the Portuguese real estate market to grow in this region with the help of partnerships and events like the one held in Warsaw on June 21st this week, as well as other future initiatives to be promoted by the respective associations and Chamber of Commerce. The Portuguese companies and associations that participated in this event since its first promotion were A1 Algarve Luxury Real Estate, APEMIP, Casaiberia Mediação Imobiliária, John Taylor Real Estate, Leisure Launch Group, and Litoral Properties. We hope to have even greater participation in the event next year, which is expected to be repeated.

Author: Paulo Lopes

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