D.Luís Bridge over the Douro River, in Porto, at sunset
Investors want to replicate in Porto what happened in Miami, which was a bet of many Brazilian entrepreneurs in the real estate sector in the 80s and 90s.
Brazilian businessmen are eyeing the real estate market in the North of Portugal, especially in Porto, as a promising opportunity for investment. A group of investors, led by Luiz Eduardo Osorio, CEO of LTS Investments, is assess the potential of the regionhighlighting both the historical ties between Portugal and Brazil, as well as the economic advantages.
Osorio, who has an established career in companies such as Vale and Raízen, believes that Porto offers fertile ground for new real estate developments, given the saturation that already exists in Lisbon, Cascais and Estoril. “In the North, in Porto, there is enormous potential for the growth of investments in real estate“, he states, quoted by .
One factor that reinforces interest is the historical connection of many Brazilians with the North of Portugal, an area of strong emigration to Brazil in the past. “Around 80% of all Portuguese emigration to Rio de Janeiro, at the time the capital of Brazil, was from the North of the country, as is the case with my family, who are from Porto. And, to this day, we have emotional and commercial ties with Porto”, he highlights.
The investor compares the region to what Florida represented for Brazilians in the 1980s and 1990s, when many invested in real estate in Miami. “Today, emigrants want to come to Portugal. And Porto has the potential to be the new frontier”, he says.
Experts such as Tiago Prandi, founder of Conexão Europa Imóveis, confirm the market’s potential, but warn of the need for careful analysis. The expert cites the example of the Lisbon real estate market, where properties purchased for around 120 thousand euros 20 years ago today worth more than 1 million euros. For Prandi, Porto can follow this trajectory, but the return will depend on a strategic assessment of each project.
The Portuguese government is also seeking to attract Brazilian investors. According to the Minister of Economy, Pedro Reis, the country offers public security, quality infrastructure, qualified labor, tax benefits and funds from the European Union for encourage investments.
