O impacto da política de austeridade no sector imobiliário e os seus efeitos no território urbano da área metropolitana de Lisboa
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2020
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A crise financeira internacional (2007/08) iniciada no mercado subprime da habitação dos Estados Unidos desencadeou uma forte contração da disponibilidade de crédito a nível global, dando início a um período recessivo com repercussões mundiais. O impacto desta situação na Europa foi devastador, na medida em que a conjugação entre o congelamento do crédito e a contração da procura internacional, viriam a provocar recessão nos países com economias mais frágeis, fundamentalmente as do sul europeu. No caso particular da Irlanda, da Grécia e de Portugal, o agravamento das respetivas condições, económica e financeira, confirmou, entre 2010 e 2011, a necessidade de ajuda externa, submetendo cada país a um Programa de Ajustamento Económico e Financeiro, supervisionado por instituições internacionais (FMI, BCE e Comissão Europeia). Concomitantemente, um novo contexto emerge, caracterizado por um forte condicionalismo à política económica e fiscal nacional, ao mercado de trabalho, ao desenvolvimento urbanístico e ao papel do Estado na sociedade.
Na geografia da crise europeia confirmou-se empiricamente que a perda de emprego na atividade económica, em geral, e no sector da construção, em particular, surge claramente como uma das consequências mais diretas do impacto da crise e das medidas de austeridade decorrentes, não obstante, constata-se, que este processo ocorreu de forma desigual no seio da UE (28), penalizando fundamentalmente os Estados-Membros que apresentam uma sobrevalorização da atividade do sector da construção cujo peso distorce a estrutura da produção nacional, como é o caso da Irlanda, da Grécia, da Letónia, de Espanha e de Portugal.
No território português constata-se que após um período de crise pontuado por um enfraquecimento da estrutura produtiva do sector da construção e por uma diminuição das condições de vida (com contração de rendimento e perda de emprego), despontam alguns sinais que indiciam uma retoma da normalidade do investimento e da atividade construtiva e imobiliária. Efetivamente, a conjugação dos fatores macroeconómicos com os incentivos criados pelos programas estatais contribuíram para impulsionar o crescimento económico, a confiança dos investidores internacionais, o financiamento e o investimento no país. Reconhecendo que as repercussões territoriais desses processos afetam fundamentalmente a região do Algarve e a AML, e nesta, os municípios de Lisboa, de Oeiras e de Cascais. E destes, assumindo Lisboa o maior protagonismo ao nível nacional, em termos de incremento da procura, de transações imobiliárias e de valorização do imobiliário residencial. A crise financeira e a política de austeridade subsequente ao reduzir significativamente a capacidade do Estado em dar respostas, representando de certa forma uma crise (falência) do Estado Social, coloca, contudo, desafios importantes ao Estado, que se vê forçado a repensar o seu papel na sociedade, e à sociedade civil, que se vê incitada a desempenhar um papel mais relevante no sentido de encontrar (e viabilizar) soluções para os problemas que outrora eram assegurados pelo sector público.
The global financial crisis (2007/08), triggered by U.S. subprime housing market collapse, results on a strong contraction of available credit initiating a recessive period with global repercussions. In Europe the impact was devastating, as the combination of credit freezing and the contraction of international demand would lead to a recession in countries with the most fragile economies, fundamentally those of southern Europe. In the particular case of Ireland, Greece and Portugal, the worsening of their economic and financial conditions confirmed, between 2010 and 2011, the need for external assistance, submitting each country to an Economic and Financial Adjustment Program, imposed by international institutions (IMF, ECB and European Commission). At the same time, a new context emerges, characterized by a strong conditionality to the national economic and taxation policy, the labor market, the urban development and the role of the State in society. In the geography of the European crisis, it has been empirically confirmed that the loss of employment in economic activity, in general, and in the construction sector, in particular, clearly emerges as one of the most direct consequences of the impact of the crisis and the austerity measures nevertheless. However this process has occurred unevenly within the EU (28), fundamentally penalizing States which have an overvaluation of the construction economic sector, whose importance distorts the structure of National production, such as Ireland, Greece, Latvia, Spain and Portugal. In the Portuguese territory, it can be seen that after a period of crisis marked by a weakening of the productive structure of the construction sector and a decrease in living conditions (with income contraction and job loss), there are some signs that indicate a resumption of normality of investment and construction and real estate activity. Indeed, the combination of macroeconomic factors and the incentives created by state programs have helped boost economic growth, international investor confidence, financing and investment in the country. Recognizing that the territorial repercussions of these processes fundamentally affect the Algarve region and the Lisbon Metropolitan Area, and in this, the municipalities of Lisbon, Oeiras and Cascais. Of these, Lisbon assumes the largest weight at national level, in terms of size, demand, real estate transactions and valuation of residential real estate. The financial crisis and subsequent austerity policy by significantly reducing the state's ability to respond, somewhat representing a crisis (failure of the welfare state), however, pose major challenges to the state, which is forced to rethink its state role in society, and civil society, which is urged to play a greater role in finding (and enabling) solutions to the problems that were once addressed by the public sector.
The global financial crisis (2007/08), triggered by U.S. subprime housing market collapse, results on a strong contraction of available credit initiating a recessive period with global repercussions. In Europe the impact was devastating, as the combination of credit freezing and the contraction of international demand would lead to a recession in countries with the most fragile economies, fundamentally those of southern Europe. In the particular case of Ireland, Greece and Portugal, the worsening of their economic and financial conditions confirmed, between 2010 and 2011, the need for external assistance, submitting each country to an Economic and Financial Adjustment Program, imposed by international institutions (IMF, ECB and European Commission). At the same time, a new context emerges, characterized by a strong conditionality to the national economic and taxation policy, the labor market, the urban development and the role of the State in society. In the geography of the European crisis, it has been empirically confirmed that the loss of employment in economic activity, in general, and in the construction sector, in particular, clearly emerges as one of the most direct consequences of the impact of the crisis and the austerity measures nevertheless. However this process has occurred unevenly within the EU (28), fundamentally penalizing States which have an overvaluation of the construction economic sector, whose importance distorts the structure of National production, such as Ireland, Greece, Latvia, Spain and Portugal. In the Portuguese territory, it can be seen that after a period of crisis marked by a weakening of the productive structure of the construction sector and a decrease in living conditions (with income contraction and job loss), there are some signs that indicate a resumption of normality of investment and construction and real estate activity. Indeed, the combination of macroeconomic factors and the incentives created by state programs have helped boost economic growth, international investor confidence, financing and investment in the country. Recognizing that the territorial repercussions of these processes fundamentally affect the Algarve region and the Lisbon Metropolitan Area, and in this, the municipalities of Lisbon, Oeiras and Cascais. Of these, Lisbon assumes the largest weight at national level, in terms of size, demand, real estate transactions and valuation of residential real estate. The financial crisis and subsequent austerity policy by significantly reducing the state's ability to respond, somewhat representing a crisis (failure of the welfare state), however, pose major challenges to the state, which is forced to rethink its state role in society, and civil society, which is urged to play a greater role in finding (and enabling) solutions to the problems that were once addressed by the public sector.
Descrição
Orientação : Fernando João Moreira
Palavras-chave
DOUTORAMENTO EM URBANISMO, URBANISMO, URBANISM, CRISES FINANCEIRAS, FINANCIAL CRISIS, CRISES ECONÓMICAS, ECONOMIC CRISIS, POLÍTICA DE AUSTERIDADE, AUSTERITY, MERCADO IMOBILIÁRIO, REAL ESTATE MARKET, HABITAÇÃO, HOUSING