What is the overall picture of Local Housing Allowance in Portugal?
Local Housing Allowance is increasingly an alternative to national and foreign investors
More and more the Local Housing Allowance in Portugal is affirmed as a reality and also investing opportunity, both for locals or foreign investors. Its growth over the past years has been massive. The rules of procedure, approved in 2014, were a help for urban rehabilitation. On the other hand, they also imposed a great pressure on Real Estate sector. ECO gathered some data giving an insight on the impact of Local Housing Allowance in Portugal and in Real Estate:
204% of growth on the registered units between 2014 and 2016
The National Register for Local Housing Allowance in Portugal has made 12 139 new registrations in 2016. The year before the number goes down to 10 821 and 3 993 between 2014 and 2015.
42 849 lodging units registered up until May 30
Turismo de Portugal counted almost 43 thousand registrations of local housing units on the 30th May. The real number may be bigger, since most of the landlords explore their properties without registering them.
13 478 lodging units explored aside the law on Airbnb
In September 2016 there were 44 808 properties registered on Airbnb, more 13 478 than the total units registered on Turismo de Portugal, representing more than 30% of the total.
7 greater business men with more than 100 properties registered
On November 2016 there were 25 landlords with registered units between 51 and 300. Seven of these landlords owned more than a hundred properties under Local Housing Allowance.
22% of the units at Santa Maria Maior are on Airbnb
The parish of Santa Maria Maior in Lisbon, comprising the areas between Alfama and Chiado, is the one of those gathering more units of Local Housing Allowance. On May 30 there were 10 682 properties on Airbnb.
€166 million of profit from the Portuguese hosts on Airbnb during 2016
€1,070 million of profit from the Portuguese hosts on Airbnb during 2016
The company has received 1,6 million guests in Portugal during 2016, with an income of 1,07 billion euros along with the hosts.
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