Despite facing ongoing challenges such as a shortage of skilled labour, rising financing costs, and volatile raw material prices, Portugal’s construction and real estate sector has maintained steady growth, says Manuel Reis Campos. According to the president of CPCI – Portuguese Confederation of Construction and Real Estate, a coordinated effort in tax, administrative and territorial policies is required to address the housing crisis. Meanwhile, the internationalisation of Portuguese construction companies has been driven by strategic partnerships and a strong focus on service quality and specialisation.
How has the construction and real estate sector in Portugal evolved in recent years, and what has been its role in the country’s economic development?
Over recent years, the construction and real estate sector has established itself as one of the key drivers of the Portuguese economy, consistently posting growth rates above GDP. In 2024, while the national economy grew by 1.7 per cent, the sector's Gross Production Value (GPV) rose by around 3 per cent, reflecting both its resilience and strategic importance. Despite facing significant challenges — including a shortage of skilled labour, rising financing costs and volatile raw material prices — the sector has maintained a path of sustained growth. This performance has played a vital role in investment and employment, contributing to territorial development and helping address pressing issues such as the housing crisis, the decarbonisation of buildings and the modernisation of infrastructure. In 2025, this positive momentum is expected to continue, underpinned by renewed public and private investment, a gradual drop in interest rates, and greater uptake of EU funds.
CPCI brings together several associations within the sector. What led to its creation, and what are the advantages of bringing the construction value chain under one umbrella?
The CPCI was created out of the need to unite and effectively represent the entire construction and real estate value chain. By encompassing virtually all associations in the sector, it has strengthened lobbying capacity with public decision-makers, acting as a strategic stakeholder in institutions such as the Economic and Social Council (CES), the National Council of Employers' Confederations (CNCP), the Institute for Public Procurement, Real Estate and Construction (IMPIC), the Authority for Working Conditions (ACT), and the Institute for Housing and Urban Rehabilitation (IHRU), to name a few. Its action has been key to reinforcing the economic and social relevance of construction and real estate, and has made a decisive contribution to economic growth, job creation and improved quality of life.
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