Urban Rehabilitation
The new law of urban renting and more recently the RERU (Regime Excepcional de Reabilitação Urbana – Exceptional Regime of Urban Rehabilitation), is creating opportunities which are important to keep stimulating, especially in rehabilitation.
Rehabilitation is back
Over the last years, the urban rehabilitation has had a strong development, pushed by the high increase in the offer of touristic apartments in the historical areas and by the crescent demand from international buyers in these locations. There are nowadays, over 200 apartments for short-term rental in the Baixa (downtown area), 300 in the Castle and Alfama area and 350 in Chiado, Bairro Alto and Principe Real, and the supply continues to grow.
The increase of night stays in Lisbon over the last 5 years was over 20%. This increase is coherent with the estimations of growth of 5% of Tourism globally, mostly due to the increase of tourists coming from emerging countries such as China and Brazil. In the same period we observed also and increase in 17% in the hotel rooms (2.715 units), which did not allow for a significant increase in the occupancy rates or in the RevPAR (Revenue per Available Room).
Times of crisis and hardships always create opportunities and entrepreneurs, what meant a change in the city dynamic as well. The city is more alive and vibrant, with buildings reconverted into hostels, touristic apartments, new shops appeared, new restaurants, new concepts, more clients and tourists. The properties for renting are each time more interesting and with a growing sustainability.
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