According to the European Commission, this urban landscape is responsible for 40% of our energy consumption and 36% of greenhouse gas emissions.

To address this, the EU has set the following key goals for future construction: new buildings must comply with zero-emission standards by 2030, and new public sector buildings must achieve zero emissions by 2028. The pressure will be immense for those who have not yet recognized the importance of this issue. Failing to understand the EU's regulatory dynamics will result in difficulties in selling real estate products, as informed buyers and financing banks will increasingly favor sustainable projects.

Recognizing sustainability as the new reality, it's time to discuss the industrialization of construction. This concept involves reducing emissions and waste, while increasing productivity and construction speed. It is the future formula to reduce dependency on scarce labor.

Portugal is taking its first steps in this direction, with some luxury resort projects announced by developers. However, the country is significantly behind and needs to change its mindset, particularly within many municipal planning offices due to a lack of expertise. This involves modular or prefabricated solutions using concrete, wood, steel, or engineered wood, as well as 3D-printed homes and factories producing modular elements from organic materials like cork, stone, and natural fibers. Contrary to common belief, wood can make a significant difference, offering excellent fire resistance and high efficiency in acoustic and thermal performance, while also serving as a major CO2 storage.

Portugal will not lose its appeal by changing its construction methods. However, it risks becoming less attractive if buyers must wait two years for construction permits and an additional two years to build their homes, whether for permanent residence, vacation homes, or housing for employees of tourism operators.

Providing products that meet the requirements from 2030 to 2050 will be highly impactful. Real estate is designed to last, so we must offer properties today that meet long-term environmental goals. This ensures that our clients can maximize their investments and secure greater liquidity and demand in 10, 15, 20 years, or more.

Regarding Artificial Intelligence (AI), it will accelerate and enhance many areas in the real estate sector. This includes speeding up project development, using automated models to appraise properties, analyzing market trends, managing properties dynamically and personally, offering personalized customer service, conducting more efficient marketing and sales, detecting fraud faster, and performing high-quality simulations and visualizations. Additionally, AI will optimize investment portfolios. Investment is also needed in creating digital AI platforms that can produce a house within hours, complete with live 3D tours, 3D videos, detailed plans, a list of finishes, pricing, and delivery dates. All of this is already possible; we just need to put it into practice.

Author

Paulo Lopes is a multi-talent Portuguese citizen who made his Master of Economics in Switzerland and studied law at Lusófona in Lisbon - CEO of Casaiberia in Lisbon and Algarve.

Paulo Lopes