SCQ83 wrote:Lewton wrote:airbazar wrote:
I disagree 100% but this is not really the forum for an economics discussion. The Portuguese economy has never been more diversified and more future proof after huge investments have been made in technology and education. Those real estate prices are for foreigners as the Portuguese already own their houses. Portugal has one of the highest home ownership rates in all of Europe.
https://www.statista.com/statistics/246 ... in-europe/
There's a general misconception amongst people who don't know Portugal that the Portuguese are poor. That is not true, they enjoy a superior quality of life than many other people in perceived wealthier nations. The government of Portugal is poor, not the people. Don't confuse the two. Look at the link above. More people own their own houses in Portugal than in Germany for example. That's a sign of wealth and quality of life.
And Portugal is somewhat immune to a Coronavirus outbreak because guess what, It's a warm weather country and it has few ties to China and Asia in general. If anything, a Coronavirus outbreak will make people seek places that are relatively free of the virus and with a good health care system where they feel safer, like Portugal. Portugal and Spain could actually see a huge increase in tourism this year as people avoid vacationing in Asia and decide to stay closer to home. And if you think those Brits living in Algarve are now going to return to the cold and rainy UK because they now have to pay 10% tax which is still lower than in the UK, dream on.
Very well said.
Some people need to find better sources to inform themselves.
Saying that the real estate bubble does not have an impact in Portugal because “all Portuguese are home owners already” is hilarious at best.
Totally. Portugal is not one of the wealthier EU countries. Not the government and not it’s people. Totally nonsensical to even suggest that.