MAY 2012 |www.opp.org.uk


BUSINESS


What should Portugal do to increase performance in the European Second Home Market?


1. Improve Portugal’s international image as a trustworthy country (counter the negative image created by the fiscal bail out, Euro, devaluation, etc.)


Month 1 2. Publish new fiscal incentives to attract investors and residents to Portugal.


Month 2 3. Produce professional marketing material to promote Portugal as the best European destination in which to buy a second home in Europe (brochures, films, websites, etc.)


Month 1 and 2 4. When 1+2+3 are done…Organise a roadshow throughout Europe to pro- mote and explain the second home market in Portugal – fiscal benefits, access, investments – all with the involvement and presence of credible Portuguese reference sources such as the government, the tourist board, developers, bankers, lawyers)… and held in Portuguese embassies. This roadshow should be targeted at different audiences ... opinion leaders, real estate agents, inter- national banks, economic magazine/ newspaper editors, real estate journalists, fashion magazines, etc. 5. After 4 ... start an international marketing campaign… international magazine campaigns, fashion, arts and VIP events…involving recognisable Portuguese celebrities.


Month 5/6 6. Organise a series of top events to showcase Portuguese celebrities, run VIP golf tournaments, fashion weeks, gourmet tours, etc.


Month 6/7 7. Attract a Hollywood blockbuster film to be produced in Portugal (a good example was “Mama Mia” in Greece) 8. Organise a “Quality Homes Sale Event” ,twice a year, at the best hotels in the main European capitals ... London, Hamburg/ Munich /Berlin, Paris, Amsterdam, Stockholm and Moscow. (List presented by Diogo Gaspar Ferreira)


tourism and to decrease the effects of seasonality.” And she will be targeting the rich and the retired. The retirement market has been a growth sector in recent years, Meireles said.


The plan is to make sure that as many assets, buildings, and investment schemes are as pension-compliant, and pension-complementary, as possible, said the Secretary of State. A simpler and more transparent tax system is being looked at too, for overseas residents, as soon as the country is through the worst of its austerity plan.


Again and again, Meireles’ fellow


speakers came back to this broad central theme of calling for government- backed, tailor-made promotion schemes


“Speaker after speaker called for a government-backed promo scheme for overseas property”


for overseas property investors. Put the clients fi rst and create more inviting tax breaks such as a clear and fi xed tax structure for foreign residents, Meireles was told by all concerned. Indeed, Vale do Lobo chief executive and Portuguese Resort Association chairman, Diogo Gaspar Ferreira could not have been more direct. Urgent action is needed now, he told the conference, and we need to use better quality information to argue our case. “Two of our biggest problems as a tourism industry,” he


Portugal Spain


France Italy


Others Total


Developer profi le Forecast fot the next Decade (1012-2021) 45 sq.m


2001-11 Market Share


5 %


81 % 6 % 6 % 2 %


100 %


2011-2021 Market Share


10%


50 % 10 % 10 % 20 %


100%


Second Home Sales to foreigners and export/ revenus per year


45 sq.m


Averange units sold per year 2001-2011 in 000’s


Portugal Spain


France Italy


Others Total


5


82 6 6 2


101


Market Share


5%


81% 6% 6% 2%


100%


Average unit price, in euros


150000 75000


250000 200000 75000


96500 Average for-


eigner revenues per year ( in million euros)


750 (8%)


6150 (63%) 1500 (15%) 1200 (12%) 150 (2%)


9750 (100%)


Units sold per year in 000’s


11,6


58,0 11,6 11,6 23,2


116,0


Average year revenue in ooo’s euros


1740000


4350000 2900000 2300000 11740000


13030000


NEWS EXTRA PORTUGAL | 31


Joined-up | thinking and a co-ordinated national promo campaign are the answer


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