Home National News Lisbon’s 19 ‘calamitous’ parishes back in lockdown.
Lisbon has become a magnet for tourists in Europe as many investors renovate properties and turn them into short-term rentals through sites like Airbnb. Foreign Minister Augusto Santos Silva even called the programs a “sovereign right.”Lisbon home prices remain one of the lowest among western European capitalsPortugal is now the eurozone's hottest property market seven years after introducing golden visasPortugal’s particular circumstances may forestall that outcome for longer than in other places as there are still plenty of properties in need of renovation, and prices remain relatively reasonable compared with other parts of Europe.“Lisbon has never been better in terms of the restoration of its buildings,” said Francisco Bethencourt, a history professor at King’s College in London. The short-term rentals have been blamed for increasing prices because they target visitors who can afford to pay more than locals.Not long ago, as Europe recovered from the global financial crisis, Portugal lagged behind its neighbors in attracting investment — and it showed. In January, the commission warned that the programs expose the bloc to money laundering and security risks.According to the latest figures, Portuguese property prices increased 9.2% in the first quarter of the year, the biggest gain in the euro region and the steepest rise in the European Union after Hungary and the Czech Republic, according to data compiled by Eurostat.It also can change the way people live in cities.Now, Lisbon’s cobblestone streets and hilltop palaces are being restored, and hundreds of buildings converted into new hotels, short-term rental apartments and luxury retail stores.
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“We must let the market function.”Variations on Portugal’s incentives have been adopted across Europe and in countries around the world — from the U.S. and Canada to Spain and Greece. “These incentives have turned cities like Lisbon into a magnet for foreign investors who helped put the city on the map as a top tourist destination.”Ana Guerreiro points across the street at a handful of housing projects in Lisbon’s up-and-coming riverside neighborhood of Marvila. Jump directly to the content.
With most cases of Covid-19 now detected in parts of Greater Lisbon, where more young people are testing positive, some restrictions are reimposed in the capital and outskirts as of 23 June, namely limiting public gatherings to 10 people and closing cafés and shops at 8pm.
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Latest news, pictures and video for Portugal's capital city, Lisbon. All the latest breaking news on Lisbon travel. Now, Lisbon’s cobblestone streets and hilltop palaces are being restored, and hundreds of buildings converted into new hotels, short-term rental apartments and luxury retail stores.
Browse The Independent’s complete collection of articles and commentary on Lisbon travel. LISBON, Maine — Many of Maine's popular festivals and fairs have canceled their plans for this summer. Facebook.