Four years ago, the first Collection store in Portugal aimed at the luxury segment and associated with RE/MAX opened. A "challenge" taken on by Siimgroup, but which paid off, Assunção Ravara, responsible for the Collection brand in Siimgroup, told Público Imobiliário.

"The high segment market has been generating constant and new real estate solutions, demonstrating the positive evolution that currently exists in this sector", Assunção Ravara, responsible for the RE/MAX Collection brand at Siimgroup, whose first store was inaugurated four years ago, told Público Imobiliário. In fact, the high-end segment, at this moment, represents about 50% of Siimgroup's sales. "In 2017, about 120 million euros were transacted in Collection properties, out of a total of about 250 million euros transacted by the group that integrates the national RE/MAX network."

In terms of demand in this market, Assunção Ravara says it is the foreigners who occupy the largest share. "The Brazilians and the French are betting a lot on our real estate. There is an investment in Portugal due to its added value, the climate, the diversity of the landscape, the rich heritage, the land and sea accessibility, the daily air connections to the main airports in the world, are some of the examples that they point out".

Incentives reflect demand.
In addition, the responsible for the brand assumes that the result that support programs and incentives for foreign investment have had for the national economy are also reflected in this demand (such as the programs of Non Habitual Residents and Golden Visa).

"When we talk about evolution, we also talk about a more demanding client who has more information and more points of offer. This forces us, as consultants, to have a deeper knowledge of the market itself and of the client in question. The market demands, above all, professionalism and dedication. It is essential to understand luxury and the characteristics that differentiate it, identifying and knowing the consumer of this product and service, defining and implementing marketing strategies, obtaining a current vision of the market in Portugal, and knowing the trends and challenges that this market will offer us in the future".

Assunção Ravara opines that the entire real estate market is changing, which leads to new real estate solutions. "An example of this is urban rehabilitation, which has been increasing and ensuring growth. There is a bet on this area, allowing the requalification of formerly degraded spaces that bring benefits to the city in which they are located and thus increase the bets of local growth".

Another interesting aspect highlighted by the responsible is the growing demand for more rural areas near the big cities, allowing a higher quality of life. "All these aspects show that there is a new market trend. New demands, new consumer profiles. Which leads us to believe that there is still a world to explore within the real estate market.