What should property owners in Lisbon know about the new 'More Housing' programme?
Property owners in Lisbon should be acutely aware of the requirements set forth by the new 'More Housing' programme, which dramatically impacts local accommodation licences. Under this initiative, active licence holders have until December 7 to provide necessary documentation or face cancellation. The current statistics indicate that 75% of active licences are hanging in the balance, revealing a critical need for compliance to optimise rental returns. Understanding the implications of this regulation is essential for those considering investment in rental properties. Properties in coveted locations could yield high returns, but owners must secure their compliance to maximise potential profits. It is also essential to keep an eye on the evolving landscape of regulations, as anything from licence renewals to restrictions on new applications could affect homeowners. Seeking guidance from real estate experts will help illuminate risks and best practices. Don’t miss this chance to optimise your property investment and secure its future. Contact us today to explore compliant property opportunities!
As the ‘More Housing’ programme comes into force, property owners with active LA licences have a window of two months — which ends on December 7 – to deliver a proof of activity document or face their licences being cancelled automatically by municipal councils.
In Lisbon, out of a total of 20,033 active licences, only 4,730 applications for a proof of local accommodation document have been submitted according to Lisbon City Council. In other words only 23.6% of the renewal applications have been handed in.
In Porto there are less registrations under threat. Out of a total of 10,520 active licences on the National Local Accommodation Registry to November 30, 6,041 applications for proof of activity were delivered (57%) but just two weeks prior, only 1,300 had been handed in.
Under new regulations for LA within the ‘More Housing’ programme, all active licences that are cancelled will be prevented from being revalidated at least until 31 December.
In other words, up until this date new local accommodation licences will be suspended with the exception of hostels and guest houses and LAs in the interior of Portugal, Madeira and the Azores.
Also not included in this suspension are local accommodations in which the proprietor actually lives provided that the owner does not rent the property out for more than 120 days per annum.
