In the midst of the pandemic, the Porto City Hall decided to cancel all suspension zones for new Local Accommodation registrations in Porto. This decision was motivated by the decrease in tourism and also because several tourist apartments migrated to conventional rental. The regulation, which was still being voted on but which had already brought restriction zones since the middle of last year, is now null and void.
This is excellent news for those who own a property in the centre of Porto and Bonfim and who could not apply for an AL license. With so many changes in recent months, it’s hard to say whether this decision will be final. Since April they have been considering this possibility, as the tourism market has been extremely impacted by the coronavirus. With the country recovering, including the sector, being able to regularize new properties can be an important step to make this improvement happen more quickly.
“In my opinion, the main advantage of the cancellation of the suspension areas is the renewed viability of real estate and urban development projects. The restoration of several buildings, reallocation of offices to tourism, as well as the development of new investments had been stagnant, many stopped half-way, due to the rushed and unregulated way in which the suspension areas had been created”, comments the national sales manager of LovelyStay, Miguel Marinho Soares.
Lisbon, unlike Porto, still maintains the containment areas. We publish a map developed by LovelyStay that easily identifies the streets and places where no more AL licenses can be obtained in the capital. Analyze it on the link.
Moreover, Miguel reinforces the idea that after so many having lost the return on investment for months “the attitude of the Port City Hall will inspire and renew the optimism of many Porto entrepreneurs who will be able to complete their projects and even start new ones, contributing to the improvement and promotion of our city”.
Well located, equipped and decorated products will certainly enter the market with more strength. Now it’s time to bet on details and a cozier environment for guests. Can’t spend too much? We’ve talked about it in another text. See.
If you are looking for premium management for your holiday apartment, LovelyStay has the best services on the market. With a personalized service, commissions from 10% and an accessible and transparent platform, the company is the best option to make your property profitable in an excellent and effective way. Meet us: email@example.com.
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