Tourism touches real estate in historic centers.
The influx of tourism is having an impact on the property market. For Kilian González Fontboté, the new Iberian sales and expansion director for the Engel&Voelkers (E&V) real estate network, the restoration of properties to welcome visitors is a reality in the historic centers of Portugal and Spain and the two countries are still “safe places” for the investment and attract more and more foreign buyers. “There is a strong impact from tourism in cities such as Madrid, Barcelona, Porto, Seville, Valencia and Lisbon, with the transformation of many properties into tourist apartments, which is changing the center and the historic center for this purpose”, said Kilian González Fontboté, at a meeting held in Lisbon with network partners and journalists. This situation is quite evident in Porto where, according to Margarita Oltra, responsible for the expansion of E&V in the north of the country, “a building yes, no building”, in the center and downtown of Invicta, are being rehabilitated for tourism and commerce. This year, American buyers began to appear to bet on this market.