Founded by Stefano Vaccara

Subscribe for only $6/Year
  • Login
  • Register

Editor in Chief: Giampaolo Pioli

VNY La Voce di New York

The First Italian English Digital Daily in the US

English Editor: Grace Russo Bullaro

  • English Edition
  • Letters
  • New York
  • U.N.
  • News
  • People
  • Entertainment
  • Arts
  • Lifestyles
  • Food & Wine
  • Travel
  • Sports
  • Italian Edition
No Result
View All Result
VNY
  • English Edition
  • Letters
  • New York
  • U.N.
  • News
  • People
  • Entertainment
  • Arts
  • Lifestyles
  • Food & Wine
  • Travel
  • Sports
  • Italian Edition
No Result
View All Result
VNY La Voce di New York
No Result
View All Result
in
Travel
February 18, 2023
in
Travel
February 18, 2023
0

Portugal’s Housing Crisis Leads to a Ban on Airbnb Licenses: Will Others Follow?

A boon for investors and speculators, its incursion lowers the quality of life for local residents

Amanda JamesbyAmanda James
Portugal’s Housing Crisis Leads to a Ban on Airbnb Licenses: Will Others Follow?

Lisbon, Portugal. Flickr

Time: 2 mins read

Portugal is in the midst of a serious housing crisis and one of the causes is Airbnb rentals that drive up prices for locals. Now the country will be taking measures to combat the incursion that, while favoring tourists and the hospitality industry, hurts its residents.

Prime Minister Antonio Costa said the crisis was now affecting all families, not just the most vulnerable and on Thursday he announced a hefty package of measures, including a ban on new licenses for Airbnbs and other short-term holiday rentals. Lisbon residents already have strong feelings against the short-term rental service. On the streets of the city, you will see signs saying “Airbnb destroys Lisbon”.

Rents and house prices have skyrocketed in Portugal, which is among the poorest countries in Western Europe. Last year, more than 50% of workers earned less than 1,000 euros per month while in Lisbon alone, rents jumped 37% in 2022.

Low salaries, a red-hot property market, policies encouraging wealthy foreigners to invest and a tourism-dependent economy have for years made it hard for locals to rent or buy, housing groups have said. Portugal’s 8.3% inflation rate has exacerbated the problem.

It is not clear when the measures, worth at least 900 million euros ($962.19 million), will come into effect. Costa said some would be approved next month and others will be voted on by lawmakers.

Now new licenses for Airbnb will be prohibited – except in less populated rural areas. Portugal is not alone in doing this. New York, for example, has already grappled with this problem, and while not banning the practice, it has become one of the most restrictive.

The incredible growth of the Airbnb platform is often attributed to its superior technology and global reach. Airbnb’s website and mobile app directly and seamlessly connects hosts and guests, regardless of their respective locations. But while popular with tourists, it often has a negative impact on residents, causing local governments to respond by setting restrictions to protect them.

According to The Thread Weekly, the most impactful problem associated with the rise in Airbnb rentals is that it increases the overall costs of rent in a city — diverting potential housing from the long-term rental market to the short-term tourist market. (Harvard Law and Policy Review)

Another is that turning residential areas into de-facto hotels reduces the quality of life for existing residents, who must deal with additional noise, trash, and parking issues associated with increased tourism and sometimes rowdy short-term renters. (Current Issues in Tourism)

Then too, Airbnbs are generally concentrated in expensive neighborhoods, which can displace middle-income renters and increase the speed of gentrification, eventually squeezing out city residents altogether from the area. (Harvard Law and Policy Review)

And finally, most of the benefits of hosting Airbnbs goes to investors and speculators who buy cheap and turn the property into a cash cow.

As Airbnb continues to grow, policymakers on a global scale are beginning to wrestle with the benefits and pitfalls of a large Airbnb presence in their communities, and when they are clearly affecting the housing market and the quality of life for its residents, it takes steps to correct the situation—as is the case in Portugal.

It remains to be seen if the ban on new licenses will spread to other global locations that may be experiencing a similar crisis.

Share on FacebookShare on Twitter
Amanda James

Amanda James

DELLO STESSO AUTORE

Baby Shooters in America: First the Youngest Was a 6-Y-O and Now It’s a 3-Y-O

Baby Shooters in America: First the Youngest Was a 6-Y-O and Now It’s a 3-Y-O

byAmanda James
How Did the First Humans Evolve? It’s a Richer Story Than Scientists Thought

How Did the First Humans Evolve? It’s a Richer Story Than Scientists Thought

byAmanda James

A PROPOSITO DI...

Tags: AirbnbPortugalproperty rentalsquality of lifeshort-term rental market
Previous Post

Tajani vede Kuleba, posizione Italia su Kiev mai cambiata

Next Post

Usava minorenni per pulire le macchine da macello: maxi multa in Wisconsin

Discussion about this post

DELLO STESSO AUTORE

PM Justin Trudeau Challenges Giorgia Meloni on Her LGBTQ+ Rights Policies

PM Justin Trudeau Challenges Giorgia Meloni on Her LGBTQ+ Rights Policies

byAmanda James
The U.S. Named in Travel Advisories as “Unsafe” to Visit Due to Gun Violence

The U.S. Named in Travel Advisories as “Unsafe” to Visit Due to Gun Violence

byAmanda James

Latest News

Al Senato una corsa contro il tempo per approvare l’aumento del tetto al debito

Al Senato una corsa contro il tempo per approvare l’aumento del tetto al debito

byMassimo Jaus
Emma Stebbins, Sculptor of Angel of the Water: Her First Biography Now Available

Emma Stebbins, Sculptor of Angel of the Water: Her First Biography Now Available

byLa Voce di New York

New York

Sotheby’s cambia sede e si sposta su Madison Avenue

Sotheby’s cambia sede e si sposta su Madison Avenue

byLa Voce di New York
Open Roads: New Italian Cinema at Lincoln Center in New York

Open Roads: New Italian Cinema at Lincoln Center in New York

byLa Voce di New York

Italiany

Made in Italy come sinonimo di qualità: all’ITA si confrontano gli imprenditori

Made in Italy come sinonimo di qualità: all’ITA si confrontano gli imprenditori

byLa Voce di New York
Intervista a Luisa Todini: “Con il Made in Italy possiamo conquistare gli Stati Uniti”

Intervista a Luisa Todini: “Con il Made in Italy possiamo conquistare gli Stati Uniti”

byNicola Corradi
Next Post
Usava minorenni per pulire le macchine da macello: maxi multa in Wisconsin

Usava minorenni per pulire le macchine da macello: maxi multa in Wisconsin

La Voce di New York

Editor in Chief:  Giampaolo Pioli   |   English Editor: Grace Russo Bullaro   |   Founded by Stefano Vaccara

Editor in Chief:  Giampaolo Pioli
—
English Editor: Grace Russo Bullaro
—
Founded by Stefano Vaccara

  • New York
    • Eventi
  • Onu
  • News
    • Primo Piano
    • Politica
    • Voto Estero
    • Economia
    • First Amendment
  • People
    • Nuovo Mondo
  • Arts
    • Arte e Design
    • Spettacolo
    • Musica
    • Libri
    • Lingua Italiana
  • Lifestyles
    • Fashion
    • Scienza e Salute
    • Sport
    • Religioni
  • Food & Wine
  • Travel
    • Italia
  • Mediterraneo
  • English
  • Search/Archive
  • About us
    • Editorial Staff
    • President
    • Administration
    • Advertising

VNY Media La Voce di New York © 2016 / 2023 — La testata fruisce dei contributi diretti editoria d.lgs. 70/2017
Main Office: 230 Park Avenue, 21floor, New York, NY 10169 | Editorial Office/Redazione: UN Secretariat Building, International Press Corps S-301, New York, NY 10017

VNY Media La Voce di New York © 2016 / 2023
La testata fruisce dei contributi diretti editoria d.lgs. 70/2017

Main Office: 230 Park Avenue, 21floor, New York, NY 10169 | Editorial Office/Redazione: UN Secretariat Building, International Press Corps S-301, New York, NY 10017

No Result
View All Result
  • Home
  • New York
  • Onu
  • News
    • Elezioni 2022
    • Primo Piano
    • Politica
    • Economia
    • First Amendment
  • Arts
    • Speciale Venezia
    • Arte e Design
    • Spettacolo
    • Musica
    • Libri
  • Lifestyles
    • Fashion
    • Scienza e Salute
    • Sport
    • Religioni
  • Food & Wine
    • Cucina Italiana
  • Travel
    • Italia
  • English
    • Arts
    • Business
    • Entertainment
    • Food & Wine
    • Letters
    • Lifestyles
    • Mediterranean
    • New York
    • News
  • Subscribe for only $6/Year

© 2016/2022 VNY Media La Voce di New York

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In
By clicking on "Create my account" or by registering, you accept the Term of Service and the Privacy Policy.

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?