Tag Archives: lisbon

Local Lodging: Lisbon can accommodate 102,000 holidaymakers

31 Thursday Oct 2019

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As compared to hotels, “AL” already has twice the capacity to receive tourists in Lisbon. In the nation’s capital which has 500,000 inhabitants, Local Lodging can accommodate 102,000 holidaymakers. In March 2019, there were 18,000 “AL” units in the municipality of Lisbon, an increase of around 80% from 2008, maintaining the trend of accelerated growth of previous years. Of the 18,000 accommodations, 90% are short-term holiday let apartments (notably commercialised through Airbnb), with 9% being hostels, while hotels can accommodate less than 50,000 travellers. Since 2001, the data reveals that Lisbon has been losing inhabitants while tourist demand has been steadily increasing. In 2011, the city received 2.9 million guests. By 2017, demand almost doubled to 5.2 million (+ 83%), which represents a nearly quarter of the total holidaymaker demand received nationwide.

Owners returning to traditional rentals

15 Thursday Aug 2019

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Since the Local Lodging boom began in 2008, small property owners are returning in increasing numbers to traditional long-term rentals. Numerous factors are pushing this trend. “AL” offerings have reached glut conditions in some central urban areas. Excessive offerings and limited demand push down prices. Over the last ten years, Local Lodging enrolments in Lisbon have soared from less than 3,000 to almost 50,000. In addition, Local Lodging can prove to be demanding work. Outsourcing tasks such as cleaning, marketing and maintenance can eat into profits. In contrast, long-term rentals require only a minimum involvement on the part of landlords.

New “AL” licences in Lisbon “containment zones” limited to 5 years

03 Monday Jun 2019

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In the neighbourhoods most pressured by tourism, it will be possible to open new Local Lodging Establishments (“AL”). However, according to the rules that the capital’s municipal council wants to see approved, new registrations will be dependent on a special authorisation. “AL” licences will be valid for five years, after which they will have to be renewed. Currently, seven historical areas face restrictions.

Property sales continue to surge in Lisbon historical districts

02 Thursday May 2019

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The new regulatory restrictions implemented since October of last year have failed to slow demand for central Lisbon properties. While new Local Lodging applications dropped by 60%, foreign investors continue to seek out and buy property in historical districts as real estate sales soared by 38% over the period. While the  “AL” sector is still significant, there are clearly other factors driving the market as well.

Local Lodging: 11 registration cancellations per day

22 Monday Apr 2019

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In the past six months, almost 2,000 “AL” enrolments have been wound up. Many owners have stopped letting but failed to cancel their registrations due to capital gains tax liabilities. In the first quarter of 2019, new “AL” sign-ups fell nationally by 40% and by 60% in Lisbon. These numbers are likely to be understated. In total, the capital currently counts with 18,000 Local Lodging Establishments. Nationwide, there are approximately 83,000.  2020 could prove to be a year of mass exodus.

Two more “AL” restricted neighbourhoods in Lisbon

08 Monday Apr 2019

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The Lisbon Municipal Council has prepared regulations which delimit the “’containment areas” to Local Lodging according to the law that came out last year. To the five neighborhoods that have been suspended since October 2018 from new holiday lets registrations – Bairro Alto, Madragoa, Castelo, Alfama and Mouraria – will be added two more:  Graça and Colina de Santana.

VN de Gaia to cap “AL” offerings

08 Monday Apr 2019

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The Vila Nova de Gaia Municipal Council has passed regulations to limit Local Lodging establishments and prevent the dislocation of long-term residents from historic neighbourhoods. The city centre and the entrance to the bridge D. Luís I are two of the target areas for the new restrictions. These measures follow on the heels of similar actions taken in Lisbon and other municipalities around the country.

Golden Visas: Lisbon defiant

09 Saturday Mar 2019

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While the European Commission (EC) defends the end of “Golden Visas”, Portugal contends that the programme will go on. In recent years, the scheme has served as a gateway for millions of euros into the national real estate market in exchange for permanent residency visas for high net worth foreign investors. In light of the controversy, the government has announced plans to alter legislation to improve transparency as called for by the European Parliament.