Source: Freepik Author: Redaction The Algarve Tourism wants to reinforce the arrival of more foreign tourists to the region , namely North American tourists, having prepared several actions to boost the promotion of travel. Some of the municipalities included in this action of the Algarve Tourism are Vila Real de Santo António, Faro, Olhão, Portimão and Albufeira, being thought ten and a half actions to perform throughout this year in Portugal, the United States and Canada. The goal is to promote the district through proposals that show gastronomy, oenology and nature activities of the Algarve region , and the idea arises after having been announced the postponement of a direct flight between Faro and the USA. According to the entity, the Algarve registered, in 2023, an annual growth above 27 percent in the number of guests in the Algarve hotel units , and the trend is positive, It is expected to continue to grow through the displacement of about 200 guests across the Atlantic , including tour operators, journalists and influencers. André Gomes, President of Algarve Tourism, points out: the United States is already the seventh most important foreign market in the region. Visitors to this country, together with those from Canada, seek, and find, in the Algarve, some of the best golf courses and beaches in Europe. Keep abreast: New support for water efficiency in the Algarve: how does it work? , AHETA wants to build social housing to capture manpower and Live 10 minutes from the beach? Realize this dream with SUPERCASA
Source: Freepik Author: Redaction The new support for water efficiency in the Algarve, for companies in the tourism sector , was presented last March with the motto save water, protect the future , and the rules on how it will work are now known. This is support for Algarve companies in the tourism sector that can demonstrate investments to improve their water efficiency , for which support totalling ten million euros has been allocated. The aim is to incentivise and improve the management of the Algarve regions water reserves , avoiding future supply problems and leading to greater control over the drought situations reported in recent months. To implement these measures, a water efficiency recognition label called Save Water has been created , which will be awarded to companies with tourist resorts that show that they have adopted practices and measures to rationalise water use . To this end, a support line has been set up to encourage this type of company to join. Who can apply for support and what benefits can it offer? According to the decree published in the Diário da República last Thursday, 4 April, companies can apply for water efficiency support if they can prove that they are open for business in the tourism sector and are in good standing, with investments of more than 10,000 euros in water solutions . If eligible, these applications can receive 50 per cent of the eligible expenses, up to a maximum of 50,000 euros per company. Eligible projects are those with a CAE for tourism in rural tourism establishments, hotels or camping and caravanning sites, as well as projects whose aim is to realise investments with an eligible expenditure value of 10,000 euros or more . Projects with a maximum implementation period of 12 months or which have not been started by the time the application is submitted can also apply, as well as being aligned with the action plan for implementing the measures eligible for the Save Water label . Thus, selected companies can receive support that includes, among several other possibilities, the purchase of water-efficient devices and equipment, auditing or consultancy to implement measures to improve, monitor and control reuse systems or cover the costs of training or capacity building for employees with the aim of adopting good practices to reduce water consumption or cover expenses when the intervention of auditors or accountants is required to validate the expense of payment requests, up to a limit of 15 per cent of the amount invested and with a limit of 2,500 euros. Excluded from the benefits of the support are the costs of buying property or work done by the company for itself, as well as cash payments , and there is a limit of one application per company. How can you formalise your application? The application must be made formally on the Turismo de Portugal helpline or electronically, by sending the appropriate form available on the Turismo de Portugal website. Accompanying this form, you must also submit documents such as the authorisation for electronic consultation of the tax and social security situation, a tax return, the access code to the permanent certificate of commercial registration and proof of IBAN. Once the application has been submitted, Turismo de Portugal has 20 working days to analyse the applications submitted and, if they are accepted, an initial automatic advance will be made once the terms of acceptance have been validated. This advance will be equivalent to 50 per cent of the approved incentive, and the final payment will only be made on the basis of the declaration of expenditure on the eligible investment. Read also: Portuguese companies have record levels of financial autonomy
Source: Freepik Author: Redaction The National Statistics Institute (INE) confirmed on Thursday that tourism revenues slowed down again in January, for the third month in a row. According to the statistical office, in the first month of 2024 the tourist accommodation sector saw a 1.8% growth in the number of guests , representing 1.5 million euros in revenue, while overnight stays remained stable, with 3.5 million in profit. For the third month in a row, total revenue growth slowed down , but remained positive compared to the previous year, at +9.4%, reaching 230.8 billion euros. As for accommodation, total revenue stood at 166 million euros, an increase of 8.5%. INE also reports that the average revenue per room stood at 83.7 euros , which means a growth of +7.6% in January compared to the 6.2% recorded in December, while the average revenue per available room stood at 30.2 euros. More topics that may interest you: Local Accomodation has new rules approved by the European Parliament and Hotels: average price per room increased to €141 in 2023
Source: Freepik Author: Redaction During 2023, activity in the national real estate sector was mainly marked by a challenging climate , along with a wait and see strategy on the part of investors. So, according to the Real Estate Market Overview , prepared by Savills Portugal and sent in a statement to SUPERCASA Notícias , discover the main indicators of the national real estate market for 2023. Investment At the end of 2023, Portuguese real estate investment stood at 1.6 billion euros, marking a 50% drop compared to the previous year. This scenario reflects the trajectory observed across the European continent, which has seen a sharp decrease in investment volumes. In 2023, with the exception of the retail and hospitality segments, all the others saw significant drops in investment volumes compared to 2022. Investment in the hospitality sector totaled 571 million euros, demonstrating a clear interest and commitment on the part of investors in this segment. It is important to note that, for the first time, investment in alternative segments exceeded the volume of investment seen in the star and more traditional segments , with investment of more than 100 million euros in student residences located in Lisbon and Porto standing out. In 2023, 79 investment transactions were concluded, 54% of which were signed by national investors, representing 30% of the total volume of real estate investment. Alternative Segments - PBSA (Purpose Built Student Accommodation) This segment has been one of the most dynamic in real estate . In 2023, there was a 3% increase in the number of students compared to the previous year, demonstrating that, despite an uncertain economic context, families continue to prioritize access to higher education, with demand for student accommodation continuing to grow. However, the reality of the PBSA segment in Portugal has been marked by a shortage of student accommodation , which is one of the major challenges facing the government, universities, families and students. The current supply in the cities of Lisbon and Porto is just 3,800 beds, serving only 2% of the total number of students enrolled in higher education in Portugal. There are currently 23 operators in Portugal, offering a total of approximately 9,600 beds. Offices At the end of 2023, the office market in Lisbon had an absorption volume of 112,474 m2, a decrease of 59% compared to 2022 , a trend consistent with other European markets. The year ended with 152 transactions. Prime rents ended the year at €28/m2/month, indicating an increase of 8% compared to 2022. This increase underlines the resilience of all market fundamentals. In addition, the average rent for the Prime CBD zone closed at €23.81/m2/month, reflecting an increase of 9% compared to 2022. Portos office market, on the other hand, had a total take-up volume of 50,048m 2 , reflecting a decrease of 14% compared to 2022. Despite this, the Invicta city maintained a resilient level of activity, recording 64 transactions. Looking to the future, the city of Porto foresees a substantial pipeline over the next two years, covering around 90,000 m 2 . Among the most emblematic projects planned are the Slaughterhouse, VIVA Offices and Mutual. Industry & Logistics In 2023, the Portuguese industrial and logistics market demonstrated robust activity, totaling a take-up of approximately 430,000 m2, with logistics operations accounting for 300,000 m2 of this figure. However, after two years of historic occupancy volumes, 2023 saw a decrease of -16%. In Greater Lisbon, 70% of the Gross Lettable Area (GLA) occupied in 2023 was dedicated to logistics, with 85% of this space exceeding 5,000 m2 and being used by distribution and logistics operators. Meanwhile, in the North & Porto region, the total take-up volume reached 125,111m2, up 4% on 2022, with logistics operations making up 65% of the total volume of closed transactions. With a logistics stock of around 3.3 million m2 in Greater Lisbon, demand for prime assets is becoming increasingly competitive, especially with regard to ESG & Sustainability standards. Retail 2023 proved to be a year of resilience and adaptation for the Portuguese retail market. Despite facing macroeconomic headwinds that impacted private consumption, the retail segment overcame the challenges with innovative approaches. In a context of economic uncertainty and changing consumer behavior, the sectors turnover index contracted by 0.8% over the course of 2023, following growth of 4.7% in the previous year . Portuguese families, who have a greater propensity to save, contributed to the decrease in turnover, reflecting a cautious approach in a context of economic pressure. However, there was room for various retail sectors to prosper, as was the case with food distribution and low-cost non-food retail concepts , which emerged as the most resilient segments, recording growth and defying market downturns. In addition, demand for proximity retail continued on an upward trajectory, highlighting consumers preference for convenience and accessibility. In particular, high street retail saw significant activity, driven by growth in the tourism sector. In cities such as Lisbon and Porto, there was an increase in new high street stores, with a notable presence of brands catering to various sectors, such as catering, fashion and lifestyle. Residential The national residential market has faced significant challenges due to rising construction costs , with a direct impact on the value of properties for customers. The predominant challenge continues to be the cost of labor, largely attributed to its scarcity. At the end of December 2023, construction costs had risen by 1.8% year-on-year. House sales in mainland Portugal, particularly in Greater Lisbon, Greater Porto and the Algarve, fell by approximately 17%, 24% and 25% respectively. The cautious economic scenario also had an impact on the number of dwellings licensed in Greater Lisbon, with a significant drop of 33.6% compared to the previous year. On the other hand, Greater Porto ended 2023 with positive results, showing an increase of 14% compared to 2022. The new Simplex Urbanístico promises to address these issues and simplify licensing processes, but these effects have yet to be felt in the market. As far as the rental market is concerned, Lisbon and Porto have seen price increases and decreases in the number of contracts signed, driven by the rising cost of housing. At the end of 2023, average rental prices peaked in Lisbon and Porto at 19.9 €/m2 and 16.3 €/m2 respectively, reflecting increases of 22.8% and 25.4% respectively. Follow SUPERCASA News for all the relevant topics for the real estate market
Source: Freepik Author: Redaction Local Accommodation (LA) will have new rules to prevent fraud and allow local authorities to create appropriate policies , which were approved by the European Parliament last Thursday, February 24. A proposal to harmonize the rules on collecting and sharing data on short-term rental services , which accounts for 25% of tourist accommodation in the European Union (EU), was presented at the plenary session of the European assembly. By changing the rules, MEPs want to promote a transparent and accountable platform economy in the EU, while protecting consumers from fraudulent short-term rental offers, says the European Parliament. Applicable within two years, after the Council adopts the text of the regulation and it is published in the Official Journal of the EU, the new rules for Local Accommodation will include mandatory registration and data sharing for properties located in areas where there is a registration procedure , such as on digital platforms. In addition to this measure, EU countries will have to establish a single digital entry point that receives data from platforms on hosting activity on a monthly basis , in order to verify that the host is complying with the registration process and apply appropriate policies in the short-term rental sector. In this way, the digital platforms that intermediate short-term rental services become responsible for ensuring that the information provided by the hosts is reliable and complete, as well as making efforts to carry out random checks on the information , adds the institution. We also recommend: ALEP submits complaint against Mais Habitação measures , New rules in LA: EU seeks to create more transparency and INE confirms increase in consumer confidence in February
Source: Freepik Author: Redaction The tourism sector saw its first drop in overnight stays since 2021 , according to data released on Wednesday by the National Statistics Institute (INE). Although tourist accommodation welcomed 1.5 million guests in January this year, representing an increase of 1.8% compared to the same period in 2023, overnight stays, which totaled 3.5 million, fell by 0.1% compared to the previous year. The decrease is largely due to the drop in overnight stays from residents, which fell from 2.6% to 1.1 million , thus reversing the growth trend seen over the last three months. On the other hand, there was a 1.2% increase in overnight stays from non-residents , with a total of 2.3 million, which still indicates a slowdown for the third month running. The main source markets were Polish tourists, with a sharp year-on-year increase of +25.2%, and Irish tourists, with an increase of +17.5% , corresponding to 3.6% and 2.4% respectively of total overnight stays by non-residents in January 2024, which totals 73.1%. INE also highlights the growth in the number of British tourists, with an increase of 6%, equivalent to 15.8% of total overnight stays by non-residents in the month under review. Other nationalities of note are the Germans, with 11.2% of the total, and the Spanish, with 8.8%. The latter, unlike the Germans, who grew by 0.3%, recorded a decrease of 12.2%, the largest among the ten main inbound markets. Read more: INE confirms increase in consumer confidence in February , Number of overnight stays in the Algarve falls short of 2019 levels or Hotels: average price per room rises to €141 in 2023
Source: Freepik Author: Redaction Preliminary figures from the National Statistics Institute (INE) confirm that there has been a significant increase in tourism revenue in Portugal, which reached 6 billion euros in 2023. Of these, 4.6 billion were collected in overnight stays. In total, total revenue rose by 20.1 per cent compared to 2022, and by 40.2 per cent compared to 2019 , the pre-pandemic period, which means, with these figures, that 2023 represents the best year ever for tourism in terms of revenue collected in Portugal. The results compiled by the Portuguese statistical office conclude that the number of guests in Portugal has increased, representing, in 2023, a figure of more than 30 million, or 13.3 per cent more than in the same period of the previous year, with 77.2 overnight stays, which saw an increase of 10.7 per cent compared to 2022. Among the nationalities of the guests, Portuguese tourists accounted for 2.1 per cent of the growth and foreign tourists for 14.9 per cent. According to the Secretary of State for Tourism, Trade and Services, Nuno Fazenda, tourism revenues soared to 25 billion euros, encompassing all areas of activity linked to the sector . This increase was the result of higher prices for stays, which allowed revenue to grow. According to INE, the price per night rose by 9.2 per cent compared to 2022, reaching €113.1. Read also: Hotels: average price per room rises to €141 in 2023 , Best cities in the world in 2024: Lisbon and Porto in the spotlight and Best ideas for entrepreneurship to be honoured
Source: Freepik Author: Redaction The Association of Local Accommodation in Portugal (ALEP) has protested against the Mais Habitação (More Housing) measures, filing a complaint in Brussels for the second time. The complaint was submitted last Wednesday, 7 February, having already submitted a preliminary complaint to the European Commission (EC) in 2023, before the governments measures came into force. At issue are the measures of the Mais Habitação (More Housing) Programme that have had the most impact on the sector, according to the association led by Eduardo Miranda. Now that the law has been published and the first impacts have been felt, ALEP, in partnership with the European Holiday Home Association (EHHA), returned to Brussels to present the definitive and updated version of the complaint. The process was supported by a detailed legal opinion, made public, which highlights the numerous incompatibilities and conflicts between the Mais Habitação no AL measures and European legislation, the leader emphasises. According to ALEP, some of the Mais Habitação measures that the association considers to be in conflict with EU legislation are, for example, the limitation on the validity of registrations, the blind ban on new registrations on the coast, the intrasmissibility of registrations or the extraordinary taxes that seriously harm , in ALEPs view, certain segments of Local Accommodation, favouring other tourist accommodation offers such as hotels. Portugal has gone from the best to the worst example at European level, exchanging balanced legislation in line with EU rules for restrictive legislation, with unjustified, blind and disproportionate measures, comments ALEP President Eduardo Miranda. And he adds: these measures dont bring solutions to the housing problem [in Portugal] (...) they distort competition and harm small LA operators, favouring large urban hotel operators, whose supply continues to grow at a great pace . Read more about Local Accommodation: ALEP indicates delays in Local Accommodation cancellations
Source: Freepik Author: Redaction The Democratic Alliance (AD) has proposed launching a program of public-private partnerships for large-scale construction and rehabilitation of housing and student accommodation . The coalition also wants state buildings and land that are vacant or underused to be put on the market, as well as the creation of a temporary tax reduction scheme for construction or rehabilitation work. In the document presented this Wednesday by Luís Montenegro at the Lisbon Congress Center, 13 measures are proposed to respond to the housing crisis , in addition to reformulations to the Mais Habitação (More Housing) program, where they intend to repeal measures such as forced rentals, rent freezes, the Extraordinary Contribution for Local Accommodation (AL), among others. These are some of the measures included in ADs program to solve the housing crisis: Flexibility in land occupation limitations, urban densities and construction requirements; Quasi-automatic market injection of vacant or underused public properties and land; Create an exceptional and temporary scheme to eliminate or reduce tax costs on construction work; Launch a Public-Private Partnership program for large-scale construction and rehabilitation of both general housing and student accommodation; Encourage new accommodation concepts on the Portuguese market, such as the regulatory sand box; Analyze the new legislative framework for licensing; Allocate support to tenants according to other rules that are not limited to the effort rate and income level and no longer use contracts signed before March 15, 2023 as a benchmark; Supporting young people who want to buy a house without sufficient family or personal savings. Read also: Nazarés Municipal Housing Plan is under consultation and Demand for credit in the eurozone shows signs of stabilizing
Source: Freepik Author: Redaction Despite the fact that the deadline for submitting proof of maintaining the activity of operating Local Accommodation (LA) ended on 13 December, there are still around 40% of the total number of this type of establishment registered without proof of a tax return. The sectors association emphasises that this has by no means been immediate and nor can it be , stating that Law 56/2023 imposes this obligation. It is the responsibility of local councils to process the cancellation of licences, however, Eduardo Miranda, President of the Association of Local Accommodation in Portugal (ALEP) insists that they must follow the rules of administrative processes that require a hearing or right of defence for the interested parties, before carrying out any cancellation . Although there is common sense and a willingness to assess each situation and always guarantee the right to a hearing on the part of local councils, ALEP points out that cancellations must be assessed very carefully, as councils may be making undue or even illegal cancellations . The difficulties faced by local councils are innumerable, since they were the victims of a thoughtless law and careless implementation , adds the Associations leader, mentioning that local councils have no way of knowing if those who didnt send in the receipt were exempt, because of [...] technical issues or simply because they werent really active . According to the Ministry of Economy and the Sea, by 14 December 14,972 valid contribution declarations had been submitted, out of a total of 120,719 entries, to the National Registry of Local Accommodation, with the regions of Lisbon, Porto and Albufeira registering the highest number of contribution declarations. On this subject: Local Accommodation cancellations put municipalities at risk
Source: Freepik Author: Redaction The Portuguese Accommodation Association (ALEP) warns that municipalities are at risk of committing an illegal act by canceling Local Accommodation (LA) registrations relating to permanent dwellings (HPP), since local councils have no way of confirming the nature of unsubmitted registrations. The deadline for LA owners to submit proof of activity was Wednesday, December 13. According to Law no. 56/2023, of October 6, LA registration holders are obliged to provide proof, by submitting a tax return, of the maintenance of the operating activity , communicating the effectiveness of the exercise on the RNAL platform - National Registry of Local Accommodation, through the Single Electronic Counter . If this doesnt happen, the respective registrations will be canceled by the city council of each region . This measure does not apply to the operation of local accommodation units in HPP, as long as it doesnt exceed 120 per year. According to ALEP, the councils are unable to confirm whether the accommodation is a PPH or not, and run the risk of incurring illegal situations, since if they dont cancel the registrations [that havent provided proof] they are not complying with the law, but if they cancel a PPH registration they are too. Its complex and the chambers dont know how to act, explains the vice-president of ALEP. The deadline for submitting proof has already passed, and Porto City Council has confirmed that it has received 9,203 tax returns from the 10,500 LAs registered with the RNAL. In Lisbon , only half of the capitals 20,000 LA registrations have submitted proof, which means that 50% of the LA in Lisbon would have to be canceled. More than 40% of overnight stays in Lisbon are in LAs, and even if we remove those that would already be inactive, there would be a very large percentage of accommodations that would either close or be illegal , explains ALEP. The biggest concern is that registrations will be canceled due to the inability to validate activity online, turning the measure into something negative for the whole sector and a problem for local councils . Follow this and other topics in SUPERCASA Notícias
Source: Freepik Author: Redaction The Ministry of Housing has announced that it has extended the deadline for submitting proof of activity for Local Accommodation (LA) owners, justifying the high turnout in recent days that has caused constraints on the online platform used for registration. As a result, all LA owners can submit their proof of activity until next Wednesday, 13th December , according to the executive. The proof of activity is submitted via the RNAL platform - the National Local Accommodation Register - which, as the government has said, has encountered some constraints in accessing it and has decided to extend the deadline that was set for 7 December. It will now be 13 December, until 23:59. As decided in Mais Habitação (More Housing) Law No. 56/2023, of 6th October, landlords were obliged within two months of the date of entry into force to prove their activity by submitting a contributory declaration, of the maintenance of the operating activity, communicating the effectiveness of the exercise on the RNAL platform . However, the Association of Local Accommodation in Portugal (ALEP) reported technical problems that led to various difficulties in fulfilling the obligation . System glitches cause concern among sector professionals According to ALEP, when trying to submit the documentation, the owners were faced with the following error message: There was an error communicating with the external organisation. Please start a new process . This situation, identified by professionals in the sector, meant putting compliance with the deadline at risk and could result in the automatic cancellation of licences , directly harming the community of Local Accommodation owners , as the association stressed. The association considers that the Mais Habitação measures for Local Accommodation were made without knowledge of the reality of the sector and without dialogue, creating situations in which the continuity of many operators is put at risk in an unnecessary way , pointing to the process of creating the obligation as careless . Read also: New rules in LA: EU seeks to create more transparency or Housing: EU ministers call for debate on LA regulation
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