Essential Business

3,000 guest houses close down in Lisbon and Porto

 In News, Property, Tourism

Portugal’s bed & breakfast and holiday let rental market known as ‘local accommodation’ has lost around 3,000 premises in Lisbon and Porto because of the Covid-19 pandemic.

In Lisbon there were 1,744 fewer studio and one-bedroom apartments available in June compared to the same period in 2019, while in Porto the number fell by around 1,158 apartments available to rent out to overseas tourists.
Apartments available for rent in Local Accommodation (AL) recorded a significant drop of 2,900 properties between the two cities in June 2020 compared to the same month last year, according to data from the SIR-Local Accommodation calculated by Confidencial Imobiliário and released on Thursday. ( 24 September)
In Lisbon, there are 1,744 fewer apartments in types T0 (studio) and T1 (one-bedroom) available, with 3,468 residences in June this year, compared to 5,212 in June 2019. The parishes of Misericórdia and Santa Maria Maior were the ones hardest hit, removing 435 and 388 apartments from available stock, respectively.
The parish of São Vicente lost 182 apartments while Santo António registered 196 fewer available local accommodation units for rent.
In the city of Porto, there were 1,158 fewer studio and one bedroom apartments of the T0 and T1 active in local accommodation, with the current offer being 2,536 apartments. In June 2019, the total was 3,694 apartments.
Of the apartments taken out of service, 853 are located in the historic city centre neighbourhoods, where 2,066 apartments are currently available for rent.


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