PARIS and NEW YORK, NY and LISBON, PORTUGAL--(Marketwire - February 8, 2011) - The International Real Estate Federation (FIABCI), along with the Portuguese Real Estate Agents and Professionals Association (APEMIP) and UNECE Real Estate Market (REM) Advisory Group, recently organized a round table event in Lisbon, Portugal to promote sound regulations for the real estate sector.
During this groundbreaking initiative, participants, which included Paulo Campos, Secretary of State for Public Construction and Communications of Portugal, and João Tiago Silveira, Secretary of State for the Presidency of the Council of Ministers of Portugal, as well as government officials and representatives of professional associations, the private sector and academics, examined the relevance for Portugal to implement principles within a recent UNECE publication supported by FIABCI and aimed at authorities engaged in regulatory reforms. The publication is titled "Policy Framework for Sustainable Real Estate Markets: Principles and Guidance for the Development of a Country's Real Estate Sector."
Campos and Silveira explained that market actors were optimistic and the real estate sector was showing resilience despite economic and financial conditions in the country. They recommended that Portugal create incentives for rehabilitating old building units and simplify rules for leasing property to support positive change within the real estate sector.
Speakers also discussed how the Policy Framework might be useful to Portugal's present challenges. Those cited included:
- simplification of the rules regarding real estate activities
- appropriate consideration for building rehabilitation
- appropriate spatial planning regulations on land use to prevent speculation on the value of land
- streamline the registration of real estate transactions and mortgages through e-government reforms
- increase the size of the rental sector so as to provide more affordable housing for vulnerable populations.
- promote increased foreign investment to spur economic growth
It was concluded that multi-stakeholder involvement would be fundamental to ensuring policy change.
FIABCI World President Enrico Campagnoli noted that real estate markets can be a driving force for the recovery. The countries of Western Europe that have been worst hit by the economic downturn could focus on progress within their real estate sector in order to help turn around their national economies.
As follow up of Lisbon Round Table, Portuguese officials will participate at a UNECE/REM program organized by FIABCI at MIPIM on March 10 in Cannes, France.
About The International Real Estate Federation
The International Real Estate Federation, FIABCI, is the most representative organization of real estate private sector with professionals in 65 countries and with approximately 100 national real estate associations' members. FIABCI holds special "consultative" status to the Economic and Social Council of the United Nations Organization (ECOSOC). FIABCI is a non-political entity whose objectives are the promotion and the development of RE private sector according the United Nations principles and to help its members to add an international dimension to their businesses FIABCI helps members acquire knowledge, develop networks and optimize business opportunities throughout the world. For information, www.FIABCI.org or contact Alyssa Nightingale +1(631) 367-8599.
Contact Information:
Contact:
Alyssa Nightingale
+1.631.367.8599
anight@att.net