Investment
Portugal, the Start-up hub

For non-EU citizens we can add the subjects of residence permit. However, in this field the recent creation of the “Start Up Visa” is a clear sign of the willingness of public entities to contribute to a more favourable environment for foreign entrepreneurs and investors. Another notable challenge is related to the subject of real estate. It’s not even worth mentioning the difficulties in renting an apartment in the big cities where the pressure of tourism leaves little room for an entrepreneur to find “affordable” housing in the centre, especially those who want to invest in their business. A central theme for start-ups and new businesses to grow is also the provision of working spaces. Prime income increased 5% in the first half of 2019 (growth rate of 19% since 2016). Over the past 10 semesters office space absorption has been consistently above 20%. Now, new businesses, and in particular start-ups, that are taking over the business landscape in Portugal need more flexible solutions consistent with the volatility and uncertainty that characterise today's world. Co-working spaces are indispensable and with them new forms of housing such as Co-living, “co-exist” very well. If a growing company needs an agile project, it may want to bring to Portugal a team of 2 or 3 people coming from Asia during 6 months in Portugal. To answer this, we have to be agile in obtaining work visas for this period and to have adequate facilities and living space for those same six months. At Kleya we know how to respond to these challenges, but it's not an easy job. If in the bureaucratic or legal part, with more or less effort, solutions are found, in the real estate part finding solutions for these new players is an increasingly difficult task. We believe this is an opportunity for real estate investors / developers. It's time to start looking at new ways of thinking about office space and the residential offering.

 

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