Real estate is asking for support against coronavirus

  • ECO News
  • 12 March 2020

Real estate agents are asking for help in facing the pandemic. They advocate that the State drop the liens, but also that the banks grant moratoria.

The coronavirus is already affecting real estate, with investments being delayed. For this reason, the sector is asking for more support from the State. The association representing real estate companies also advocates that banks grant moratoria, as has happened in Italy.

“With the number of trips decreasing and with the recommendations of the health authorities, it is natural that the demand for real estate will suffer a drop, even due to the global trend of postponing investments,” says the president of the Portuguese Association of Real Estate Companies (APEMIP) in a statement.

Luís Lima asks the Government for “specific protection measures,” given that “micro, small and medium-sized enterprises, in particular, will find it more difficult to meet their commitments. “The rights and duties of workers must naturally be safeguarded, but companies too, otherwise it will be impossible to guarantee the maintenance of existing jobs,” he says.

In addition, he calls for “effective action by the state in the financial sector, so that the banking sector has a role in supporting companies, and not in taking advantage of any situations of non-compliance caused by the billing difficulties that companies will face during this period.”

For the president of APEMIP, “this is an unprecedented situation and therefore requires unprecedented measures,” stressing that the moratoria is important and it is already being implemented in Italy, where payments of housing credit have been suspended.