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Ageing and expensive rent rob young adults from Lisbon

Lisbon has experienced the greatest decline in the number of young adults within Portugal in recent years. One factor contributing to the drop is the difficulty in finding affordable housing. In 2012, the median rent in Lisbon was €268, according to INE (“Instituto Nacional de Estatística).  In 2016, the average climbed to €830.

But high rent is only part of the problem. The ageing of the population is at the root of the decrease. In 1991, Lisbon had 138 seniors for every 100 young people (from 0 to 14 years old). By 2016, the number of elderly rose to 182, a proportional increase of 24%, making Lisbon the oldest council in the nation. Provisional population estimates advanced by INE indicate that the number of young people aged between 20 and 34 living in Lisbon went down from 95,830 in 2011 to 67,916 in 2016, a net loss of 29%.

University residences to function as summer Local Lodging

The Portuguese brand, Lifecooler, announced that it is transforming university residences into Local Lodging during the peak summer months. A pilot project began this August in Lisbon. Designated as “Rooms & Experiences”, the initiative started with a residence with 48 rooms and 68 beds located in the Lumiar district.

Tourism yields rose 17% in 2016

The aggregate tourism turnover rose 17% last year to 3,075 million euros. The number of holiday makers jumped to 19 million, an increase of 10%. By geographical distribution, the greatest concentration of tourist beds continues to be the Algarve, with one-third of the total. Lisbon accounted for almost 20%.

Local Lodging prices rise in Lisbon and stabilize in Oporto

The average cost of Local Lodging increased 4.6% in the centre of Lisbon and 0.3% in the historical neighbourhoods of Oporto in the first half of 2017 as compared to the previous six months period according to a recent study.

Tourism continues to set records

Guests in tourist accommodations increased to the highest level in 10 years during the first quarter of 2017. Madeira’s hotels recorded the strongest occupancy rate (75%), followed by Lisbon (67%) and Porto (63%).  Nationwide, foreign visitors are up 10% over a 12 month period. By nationality, the largest rise came from Brazilians (68%), Polish (40%) and Americans (34%).  Urban tourism is one of the major trends in demand. The country’s security is perceived as one of the main criteria, followed by climate, culture and cuisine.

Portugal pioneers in Local Lodging

Innovation in the regulation of local lodging has made Portugal a case study. Short term holiday letting is an integral part of the current Portuguese tourism boom. Dilapidated heritage districts in Lisbon and Oporto have a new lease on life with private investment driving much needed restoration. As with any phenomenon of rapid and disorderly growth, distortions have emerged. But this should not be a pretext to kill the chicken that lays the golden egg.

Long term lets continue to rise in Lisbon

Living in Lisbon is increasingly expensive. The tourist boom in recent years has triggered rental price hikes in the country’s capital. The latest study reveals that apartment leases rose 23% in 2016, to an average of €830 per month. In the Chiado district, purchase costs average €6,700 per square metre.

Airbnb generates more than one billion Euros in Portugal in 2016

The online hosting platform generated €1.07 billion in Portugal last year, almost half in Lisbon. Airbnb said that this figure accounts for “all the money that Airbnb guests spend during their stay as well as the amounts that hosts with ads on the platform earn in their hosting activity.”

Airbnb generates more than one billion Euros in Portugal in 2016

The online hosting platform generated €1.07 billion in Portugal last year, almost half in Lisbon. Airbnb said that this figure accounts for “all the money that Airbnb guests spend during their stay as well as the amounts that hosts with ads on the platform earn in their hosting activity.”

Local Lodging continues to grow in Lisbon and Porto

Lisbon and Porto saw the number of properties registered in the local housing increase by 3,400 and 1,300 respectively in 2016. In a new trend, the largest growth took place outside of the historical neighborhoods, where the supply doubled. Lisbon closed 2016 with 6,800 registrations, twice as many as it had in 2015. Of the 13,000 new registrations nationwide, many were due to legalization of irregular situations that already existed rather than brand-new offerings.

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