Lisbon and short term rentals
Thanks to the criticality of the period, many sectors had to reinvent themselves. So as not to succumb. And thanks to inventiveness, encouraged by government aid, there have been many realities that have managed to recover from the hard blows caused by the Covid-19 emergency. We have seen several times how the real estate sector was particularly affected by the pandemic. But also how various state initiatives have been fundamental to re-emerge. One of the sectors closely linked to the brick market has been the tourism sector. In some countries it has always represented the so-called '' engine of growth ''. The crisis that has not spared any type of economy, even the strongest, has however had to deal with a really interesting initiative developed by the Lisbon government. Portugal, one of the most revolutionary states in Europe, is preparing, in the city mentioned above, to help citizens in difficulty.
Such as? By developing a dense network of short-term rentals, capable of allowing the recirculation of the local and national economy. An alternative move, in a period in which subsidies to citizens who find it difficult to pay the monthly fee prevail. Here the focus shifts abroad. We need to take a step back, and analyze the nation as a whole. Portugal and the city of Lisbon each year host many students who decide to relocate temporarily thanks to the Erasmus program.
But also to continue the university path undertaken in other countries. To get out of the crisis generated by the pandemic emergency, the mayor of Lisbon has decided to offer one thousand euros a month for a minimum period of five years to rent the properties to tourists. All this to be able to sign leases and allow even the people most affected by the crisis to recover. This is a sort of '' stable income '' that will guarantee owners to remain active even in a period in which tourism and even real estate are practically paralyzed. But it's not all that without limitations. In fact, the Municipality of Lisbon has decided to insert a clause, precisely to better control this initiative. The limit shown is as follows: once the contract is signed, these houses will be rented primarily to families in difficulty, at rents that do not exceed one third of their income. Furthermore, in addition to the five-year deadline, the owners will have to put their apartment back on the market. In short, although these limitations may seem quite strong, already 117 tenants have shown interest in this first call.
Yes, first, precisely because the Municipality of Lisbon is expected to act again to protect the tourism sector and especially the local and national real estate market. There is no clear view of what the future of the Portuguese brick will be, nor is it possible to predict how long it will take to restart the tourism sector. What is certain is that we at Realigro will always be ready to inform you about all the news, to keep you updated every day on how the entire real estate system is evolving.
Such as? By developing a dense network of short-term rentals, capable of allowing the recirculation of the local and national economy. An alternative move, in a period in which subsidies to citizens who find it difficult to pay the monthly fee prevail. Here the focus shifts abroad. We need to take a step back, and analyze the nation as a whole. Portugal and the city of Lisbon each year host many students who decide to relocate temporarily thanks to the Erasmus program.
But also to continue the university path undertaken in other countries. To get out of the crisis generated by the pandemic emergency, the mayor of Lisbon has decided to offer one thousand euros a month for a minimum period of five years to rent the properties to tourists. All this to be able to sign leases and allow even the people most affected by the crisis to recover. This is a sort of '' stable income '' that will guarantee owners to remain active even in a period in which tourism and even real estate are practically paralyzed. But it's not all that without limitations. In fact, the Municipality of Lisbon has decided to insert a clause, precisely to better control this initiative. The limit shown is as follows: once the contract is signed, these houses will be rented primarily to families in difficulty, at rents that do not exceed one third of their income. Furthermore, in addition to the five-year deadline, the owners will have to put their apartment back on the market. In short, although these limitations may seem quite strong, already 117 tenants have shown interest in this first call.
Yes, first, precisely because the Municipality of Lisbon is expected to act again to protect the tourism sector and especially the local and national real estate market. There is no clear view of what the future of the Portuguese brick will be, nor is it possible to predict how long it will take to restart the tourism sector. What is certain is that we at Realigro will always be ready to inform you about all the news, to keep you updated every day on how the entire real estate system is evolving.
