The Salão Imobiliário de Lisboa (SIL), Portugal’s biggest real estate fair, begins this Wednesday and includes for the first time a public auction organised by the Department of Treasury and Finance, SIL director Jorge Oliveira said.
On Sunday, the fair’s last day, the Department of Treasury and Finance will auction 35 buildings with start prices ranging from 25,000 to 157,000 euros, Oliveira added.
Visitors will also be able to take part in auctions for 150 buildings promoted by the state financial group Caixa Geral de Depósitos. The start prices range from 13,000 to 212,000 euros
Internationalisation of the sector and urban recovery are the two hallmarks of this year’s real estate fair. Oliveira explained that since 2010 SIL has “supported sector internationalisation, taking national companies to such diverse markets as Angola, Mozambique, France and the United Kingdom, with actions now being planned for China and Luxembourg in 2013 and Brazil next year”.
The organisers believe the event can also serve as a springboard to attract foreign investment to Portugal, as visitors include real estate professionals from the Community of Portuguese Language Countries (CPLP) – Angola, Mozambique, Brazil, Cape Verde, São Tomé and Príncipe and East Timor – and from China, the United Kingdom and France. (macauhub)