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Licensing for Hotels in Downtown Porto More than Doubles in 2017

15 January 2018

The projects for twelve new hotels entered the licensing process in the downtown and historic districts of Porto from January to September last year, Confidencial Imobiliário reported.

The total was more than double the number of projects that entered the licensing phase in the same period in 2016. Nine of the ventures concern four or five-star hotels and tourist enterprises, while the three others will be classified as having three, or fewer, stars.

Only two of the twelve projects will be new builds, showing the predominance of urban rehabilitation in that area of the city. Two projects have total areas above 8,000 square meters, and another two have areas exceeding 5,000 sqm.

At the same time, 119 residential projects were licensed in this area of Porto in the first nine months of 2017, of which 82% are apartment buildings, according to Ci. Most of them (almost two-thirds of the total) are buildings with 3 to 10 flats. 18% have between ten and twenty flats, while just one will have more than twenty apartments.

These figures were calculated by Ci in the scope of an analysis of the energy pre-certificates issued by ADENE, which must be included in municipal licensing. The data do not take into account small rehabilitation projects, for which the issuance of energy pre-certificates is not required.

Original Story: Vida Imobiliária – Ana Tavares

Translation: Richard Turner