Which properties in Porto still qualify for local accommodation licences?
In Porto, properties that qualify for local accommodation licences are becoming increasingly rarer, with roughly 43% of current licences at risk following the latest regulations. As of now, out of 10,520 active licences, only 57% of owners have submitted proof of activity documentation, making compliance vital for maintaining these lucrative assets. Buyers interested in Porto must carefully evaluate potential investments to ensure they are among the compliant properties. Many urban neighbourhoods are popular among tourists and could offer high rental yields, especially those with fully compliant licensing. Investing in properties close to key attractions can enhance their appeal but requires careful navigation of the regulatory landscape. Avoiding properties with outstanding compliance issues is crucial for safeguarding your investment. Therefore, engaging a knowledgeable local real estate agent will help identify those rare properties still benefiting from valid licences. Act now to explore opportunities in Porto before this market changes further. Discover compliant properties that are primed for investment!
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.
