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Brazilians Boost Business and Services Sector in Portugal

01/22/2018 - 10h36

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GIULIANA MIRANDA
FOLHA CONTRIBUTOR, IN LISBOA

The new wave of Brazilians with purchasing power that has settled in Portugal is driving the sectors of services and business, which was nearly inexistent in the country. It is the case of big-budgeted children's parties, for example.

"It is a cultural thing. In Portugal, even the richest people did not have the habit of throwing their children big parties. It was common to have just some cake, bought at the local market, with juice and soda," says Brazilian businesswoman Liliani Wietcovsky.

She is the owner of Lima Limão, a company specialized in organizing events and says that the arrival of more Brazilians had a major impact on the market, with a consistently growing demand for parties with top quality decoration and many options on the menu.

This new level of demand is also seen in the real estate market, where Brazilians have become big favorites with many agents - they even offer visits over Skype to close a deal.

A survey carried out by the Association of Portugal's Real Estate Mediation Professionals and Companies shows that, in 2017, one in every four properties in Portugal was bought by a foreigner.

Brazilians rank third on the list of foreigners, behind the Chinese and the French; however, Brazilians draw attention as the average price they pay for their houses is higher.

The investment in high-end properties has an explanation: since 2012, the Portuguese government has granted special visas to those who purchase properties of at least € 500,000 (US$ 600,000) - or € 350,000 (US$ 428,000) in selected neighborhoods.

Brazilians are the second biggest nationality taking advantage of the so-called "gold visa" benefit, behind the Chinese.

Translated by THOMAS MUELLO

Read the article in the original language

Fernando Donasci/Folhapress
Brazilian businesswomen Liliani Wietcovsky (left) and Paula Mendes
Brazilian businesswomen Liliani Wietcovsky (left) and Paula Mendes

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