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Letting a bedroom in a private home in Greater Lisbon now costs on average €308 per month – the most expensive in the country – with growth in prices of 14% in 2017. Interest in room rentals, a traditional form of housing for university students and young workers, has quintupled the number of searches carried out over the past year. Due to increased demand, the cost of letting an individual room has risen to an average of €238 per month in Portugal.
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.
The holiday accommodation platform, Airbnb, is interested in offering long-term lets to help its customers base find homes to live in. This initiative builds on the company’s already existing experience. Since 2011, Airbnb has included a sub-lease section on its website in more than 5,000 cities, listing houses and apartments for rent by the month.
With wintertime coming, many property owners may want to take the easy road and accept long term rentals (more than 30 days) from tourists who wish to enjoy the Portuguese climate during the winter.
This is not Local Lodging but long term rental. A written contract has to be drawn up and registered with the TAX Office. Owners under the age of 65 have to issue monthly electronic receipts. All owners have to send a Summary to the Tax Office after the period has finished. In the tax declaration, this income will be declared under Category F, with a tax rate of 28%, In this case, certain costs can be deducted.