Notícias

On June 29 and 30, 2023, the General Assembly of the Ibero-American Franchise Federation (FIAF) was held in São Paulo, Brazil.

Mr. Cavaleiro Machado, Legal Director of FIAF, and Mr. Ernesto Carvalho participated in this General Assembly as members of the Portuguese Franchise Association delegation.

The Internal Regulations of FIAF proposed by Mr. Cavaleiro Machado were approved at this Assembly.

The introduction of REITs in Portugal could lead to further increases in property prices. This comes at a time when, according to a December report by the Bank of Portugal, ‘in recent quarters, there have been some signs, albeit limited, of residential property prices being overvalued in aggregate terms, with more pronounced overvaluation observed at regional/local level’. Housing prices have risen by more than 30% since 2013. In Lisbon, last year alone, there was growth of over 20%. Industry experts admit that the arrival of SIGIs could lead to further price increases. ‘This is logical reasoning, as attracting more investment will lead to more demand, which will push prices up,’ says Pedro Coelho, director of Square, responsible for managing the CA Património Crescente real estate fund. However, the manager believes ‘that we should take a more structural and long-term view.’ He argues that ‘it would have been good if they had existed for longer’ and that ‘prices fall more quickly due to interest rate increases or increased supply than they rise due to the entry of REITs.’