Essential information regarding Local Lodging in Portugal, including Airbnb, property transfer tax, the abolishment of IMT, and more....
Tourism with strong foreign demand
Portugal is one of the most sought after destinations from foreign nationals: French, Spanish, English, German and Nordics. With the right ingredients, Portugal is safe and welcoming, with quality accommodation, good weather and affordable cost of living.
Property transfer tax to stay on in 2016
The IMT will not be abolished in 2016. The gradual wind down is now scheduled to begin in 2017. For City Halls around Portugal, this means that they can continue to count this revenue of approximately €180 million in 2016.
Airbnb with 26,700 offerings in Portugal
Airbnb, the world's largest network of reserves in private homes, currently has 26,700 offerings in Portugal with over 10,000 in Lisbon alone. The San Francisco based internet operator reports annual growth of 65% in 2015 as compared to last year.
“Booking” continues to grow
The hotel booking service, “Booking”, reported 33% growth in reservations in Greater Lisbon area since January. The Portuguese based agency was founded in Loulé in 2005 and currently employs 33 staff.
Portuguese nationals and international local lodging offerings
The portal, “HomeAway”, one of the principal internet booking services, has registered an increase of almost 40% in reservations made by Portuguese nationals. The most popular destinations for Portuguese travelers are Brazil, Italy and Spain.
Internet booking agencies praise Portuguese “AL” legislation
The Portuguese weekly, “Expresso”, reports that the principal internet booking agencies view positively Portugal’s new law governing Local Lodging. This recent legislation regulates private homes when renting out homes to tourists, an activity previously stigmatised as being part of the underground economy.
IMT will not be abolished in 2016
The IMT (Municipal Property Transfer Tax) will continue through 2016. The gradual wind down is now only scheduled to begin in 2017. For municipal councils around Portugal, this means maintaining this revenue source of approximately €180 million next year.
Golden Visa applications piling up
Golden Visa approvals fell by half through the end of June. However, requests still come at the same rate, creating a growing backlog. The current suspension only makes matters worse, leading to friction between SEF director, António Beça Pereira, and centrist government officials.
For more information please see the NALLE website (The National Association of Local Lodging Establishments).