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Luis Horta e Costa: Rising Construction Costs Affects Portugal’s Growing Real Estate Market

Portugal’s real estate market has been on the rise in recent years, but a significant challenge faced by the industry is the increasing cost of construction materials. This is a concern for many in the industry, including Luis Horta e Costa, a real estate expert based in Lisbon.

As per Horta e Costa, the rising cost of materials such as cement and steel is affecting the cost of building new homes and this is driving up the overall cost of housing, making it difficult for many people to afford a home. The high demand for housing in Portugal, due to an increasing population, tourism and foreign buyers, adds to the problem.

To overcome this issue, Luis Horta e Costa believes that the government needs to take steps to lower the cost of construction materials, for example, by offering tax incentives for developers who use sustainable materials or working with suppliers to negotiate lower prices for materials.

Another possible solution is to focus on building more affordable housing, such as social housing, and encouraging the development of smaller, more compact homes which are more affordable to build and maintain.

The rising cost of construction materials is a major challenge for the real estate market in Portugal, and it’s crucial that the industry and government work together to find a solution. With the right policies and efforts, it may be possible to keep housing affordable for everyone in the country.