‘Portugal does not and will never see a real estate bubble,’ according to former Novobanco CEO | O Jornal Económico (PT)

“I can’t say that Portugal is the best real estate market in the world, but it is one of the best”, António Ramalho said at the Portugal Real Estate conference in Estoril last week, according to O Jornal Económico.

A little context: after leaving his post at the head of Novobanco, Ramalho was recently hired as a senior advisor by the Spanish consulting firm Alvarez & Marsal in Portugal. That “did not escape some controversy as [the company] was the consultant hired by Novobanco to evaluate real estate deals,” ECO wrote in August.

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