Huge drop in the number of Alojamento Local registrations in Portugal, -73% in Lisbon
It would seem that the Portuguese strategy to reduce the number of new Alojamento local and curb real estate speculation is starting to bear these fruits. Between January and October 2019, 13,201 new dwellings were registered for a tourist rental activity, 43% less than during the same period in 2018. Lisbon is the region most affected by this drop in new requests, because of the setting up of areas where it is no longer possible to obtain new licenses for tourist rental and Porto is not spared by this fall. Is this good news for people living in big portuguese cities ? What are the figures for this significant drop in Alojameto Local? Lisbob, the assistant of expats in Portugal, tells you all about this drop in registrations.
Huge drop in the number of Alojamento Local registrations in Portugal, -73% in Lisbon
A drop of 43 % for Portugal, 33 % for Porto and 73 % for Lisbon
The number of new listings of Alojamento Local has dropped in the first ten months of 2019. Between January and October, only 13,201 new dwellings were recorded, a 43% decrease from the same period in 2018, when 22,831 properties were registered as tourist rental, in particular to use the Airbn'b platform.
Lisbon is the most affected area with a 73% drop in the number of registrations, from 7,036 to 1,754. The capital is still the preferred destination for those who wish to invest in tourist rental and already has containment areas. Porto was less affected with a drop of only 33%, from 2,600 records in 2018 to 1,754 for the first 10 months of 2019. However, it is difficult to imagine Porto not following the same trajectory as the Portuguese capital.
This drop was expected by professionals
A drop that was expected
The Association of Tourist Letting in Portugal explains this downward trend observed this year on the national territory by the fact that the Local Alojamento is no longer a novelty in the country. Also, and despite this decline, the Association of tourist rental in Portugal is not surprised by the figures, which justifies the decline with the passage of a "niche activity" to a "mature activity".
According to the president of the association, local accommodation represents 40% of the total number of overnight stays in tourism in Portugal. The total number of properties registered as Local Lojamento has decreased from 14,127 in 2014 to 77,053 in 2017.