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Local Accommodations Sector Sees Increased Regulatory Scrutiny

23 April  2019 – Richard D. K. Turner

3,283 new local tourist accommodations (AL) were registered during the first quarter of 2019, a fall of 2,345, or almost 60%, compared to the year before. In another sign that the sector is weakening, an increasing number of property owners have officially de-registered their properties, according to articles by Idealista and Público.

Experts, such as Eduardo Miranda, president of the Portuguese Association of Local Accommodations (ALEP), believe that the retrenchment is due to market changes and increased regulatory activity.  Portugal’s tax authorities have also targeted tax evasion in the real estate sector, further dampening investment activity.

Original Story: Idealista