There are more houses being sold today but high prices in central urban areas are pushing buyers out to the suburbs. Simultaneously, rentals are in decline. Letting accounted for 60% of real estate activity at the height of the crisis but has fallen sharply in the last two years. In 2016, lets accounted for just 25% of housing turnovers.
Those who live and work in Lisbon like tourists who visit the Portuguese capital. More than 90% of the population favours the presence of tourists. In addition, the contribution of tourism to the economic activity of the Lisbon Region is significant. In 2015 it amounted to 8.4 billion euros, corresponding to an average annual growth of 8% over the previous 10 years according to a survey by Intercampus and Deloitte Studies.
Cascais began charging a Tourist Tax of €1.00 per night as of 01 February 2017. The City Council estimates a minimum first year income of €1.2 million. Initially the proposed charge was to be €1.50, but the final levy was set at €1.00 per night, up to a maximum of five nights.
In 2016, the 1.6 million inhabitants of Barcelona were “overwhelmed” by more than 32 million tourists who “overloaded the city”. The City Council has approved legislation to limit the influx of tourists after more than 25 years of intense promotion of the city as a tourist destination. The plan will only have an impact after 2019. The tourism industry opposes the new plan, which says that the legislation “demonizes tourists.”