Patrícia Viana highlights barriers to foreign investment in Portugal despite the country’s attractiveness
Patrícia Viana, Partner at Abreu Advogados, underlined today that Portugal “is an attractive country” for foreign investors—whether individuals, companies, or funds—but warned that the sharp rise in construction costs, the shortage of labour, “taxes, fees and levies”, and the volatility of legislation may deter investment.
Patrícia Viana was speaking at the 2nd edition of the Local Summit, taking place today at the Centro Cultural de Belém in Lisbon, which focuses on housing, mobility, and development.
“Yes, Portugal is an attractive country. We are seeing more and more Spanish, French and British funds investing in Portugal—in logistics, retail, data centres and housing,” she said.
The Abreu Advogados Partner noted that there is “a kind of perfect storm” affecting both small- and large-scale investments.
“In the transactional market, a number of factors undermine confidence: we cannot attract investors if we do not have stable legislation. On the other hand, when it comes to licensing, convincing a British fund and explaining the waiting time for permits, the taxes and fees involved, the shortage of labour, immigration issues that directly impact construction costs, and the price of materials—these can all lead to investors walking away from their initial plans.”
