In this episode of the JamesEdition Podcast Ricardo Sous highlights the importance of mortgage solutions for international clients and the robust market in Portugal that emphasizes sustainability. Despite substantial price increases, Sousa believes the market is stable without signs of a bubble, partly due to the low starting point of prices and the high quality of new developments.
Key Highlights
- Market trends and forecasts:
- Lisbon, Madrid, Malaga, and the Azores are thriving.
- Demand from U.S. buyers continues to grow.
- Sustainability and quality construction are shaping the future.
- Optimistic outlook:
- Stable prices due to limited supply.
- Continued growth in international and domestic demand.
Ricardo SousaCEO of Century 21 Spain and PortugalSpain, particularly Madrid, has emerged as a global success story, with innovative programs and excellent management during the pandemic leading to strong market growth. In Spain, key growth areas include Madrid, Malaga, and the Canary Islands. International clients now seek properties that combine sustainability with luxury. Regions like Lisbon and Madrid are thriving, becoming doors to Europe for clients from South America and beyond.
Transcript
Eric:
Hello, everyone, and welcome to JamesEdition.com’s podcast. My name is Erik Finnas Dahlstrom, and I’m the CEO of JamesEdition. JamesEdition is the leading global marketplace for luxury properties. We have over 400,000 of the world’s finest listings for sale from more than 16,000 real estate agents in over 140 countries.
Today, we are joined by Ricardo Sousa, CEO of Century 21 Spain and Portugal. We will discuss the top areas in the region, the main reasons for increased demand from international clients, and why he is so optimistic about the future.
Eric:
Welcome, Ricardo!
Ricardo:
Thank you so much for the invitation, Erik. It’s my pleasure to be here.
Eric:
Tell us more about your background and your current role at Century 21.
Ricardo:
My big passion is cars; I once dreamed of becoming a Formula One driver. However, in 2004, I shifted focus and embraced the Century 21 project in our family business, initially in Portugal and later expanding into Spain.
I’ve gained a deep understanding of market trends in real estate, especially in residential properties. Over the years, I’ve seen key developments across different segments like luxury and mass-market properties.
Housing Market in Spain and Portugal
Eric:
What do you see as the key areas and opportunities in Spain and Portugal right now?
Ricardo:
We have close to 6,000 agents and over 300 offices across the Iberian Peninsula, covering both urban and coastal regions. In Spain, key growth areas include Madrid, Malaga, and the Canary Islands. In Portugal, Lisbon has transformed over the last decade, with incredible rehabilitation projects not only for buildings but for urban areas as well.
Portugal is also seeing new hotspots like Porto, Alentejo, and the Azores, which offer untapped potential for investment. The Azores, for instance, has pricing opportunities for growth and incredible landscapes.
International Buyers
Eric:
How do international buyers factor into the market?
Ricardo:
International buyers, especially from the U.S., have significantly increased in Portugal. They are now our number one client group. They’re attracted by our quality of life, safety, and relatively affordable prices compared to other parts of Europe.
While incentive programs like the Golden Visa helped initially, these buyers now choose Portugal and Spain for more than tax incentives—they see long-term value.
Eric:
What role do mortgages play in attracting these buyers?
Ricardo:
Mortgages are crucial, especially for U.S. clients. In Portugal and Spain, fixed mortgage rates around 3% are very appealing compared to higher rates in the U.S. This makes financing easier for international buyers, and our financial institutions are well-prepared to handle these clients.
Top Hotspots
Eric:
How has the market changed in recent years?
Ricardo:
The pandemic accelerated many shifts in preferences. International clients now seek properties that combine sustainability with luxury. Regions like Lisbon and Madrid are thriving, becoming doors to Europe for clients from South America and beyond.
Spain, particularly Madrid, has emerged as a global success story, with innovative programs and excellent management during the pandemic leading to strong market growth.
Eric:
What do you think the future holds for these markets?
Ricardo:
We’re optimistic. The real estate market in Portugal and Spain remains stable due to low inventory and high demand. Prices are holding steady, supported by robust domestic and international interest.
The focus on sustainability in new developments and stricter construction codes ensures that the quality of homes continues to rise, providing value for years to come.
Eric:
Thank you, Ricardo, for such valuable insights.
Ricardo:
Thank you, Erik. It was a pleasure to share these perspectives.
