Portugal’s Proposal to Ban New Short-Term Rental Licenses May Hike Prices
There are implications for future travel to Portugal in the news that the country’s government has proposed to end two programs. One is a ban on issuing new licenses for short-term holiday rentals.
The other is a visa program for non-EU nationals that offered residence in return for investments. 92 per cent of investments under the scheme were in real estate, Skift reports, totalling over USD $6.5billion in income properties in Portugal in the last decade.
The bans have been proposed to combat a housing crisis and rising inflation in Portugal. Housing availability is a common complaint for popular short-term rental destinations. According to Skift, while the bans are unlikely to have an impact on the inventory numbers for short-term rental properties, it’s likely that the prices will rise.”
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