Recent data shows that short-term rentals are rapidly developing in major cities such as Lisbon, Portugal. The short-term rental industry in Lisbon directly employed 5,700 new employees last year, with a total of 13,400 employees, contributing 1% to Lisbon's GDP and 18.3% to the total revenue of the tourism industry.
It is reported that in 2016, tourists spent over 286 million euros on local short-term rentals in Lisbon. Among them, apartments are the main type of local short-term rentals, with 3,686 new apartment-style short-term rentals opened in Lisbon last year. Including other forms such as accommodation facilities, residences, and hotels, a total of 4,346 new establishments were added last year; in terms of accommodation capacity, local short-term rentals can accommodate up to 54,572 tourists, representing a 75.1% increase compared to the same period in 2015.
According to immigration experts, the tourism momentum in Portugal has not slowed down in 2017, and the demand for employees in the hotel and tourism-related industries continues to grow. The tourism industry has created a new wave of employment in Portugal, reversing the trend of employment difficulties in recent years.
In light of the current tourism industry, especially the comprehensive rise of independent travel, more and more foreign buyers are optimistic about the property investment market in Portugal. The demand for real estate in major cities continues to grow, and the rental market is also experiencing a rapid upward trend. For many overseas investors, an investment of 500,000 euros in Portuguese real estate not only secures a valuable property but also allows for rental income through short-term rentals. More importantly, purchasing a property worth 500,000 euros grants the entire family three generations European immigration status, allowing free movement across 26 Schengen countries.
Currently, in response to the booming immigration trend in Portugal, Portugal has added 12 new immigration offices. This is significant good news for investors looking to immigrate to Portugal, as it not only means that the approval speed for the Golden Residence Permit will greatly improve but also that more families will obtain European immigration status for three generations in a shorter time, making business, travel, and residence in Europe much more convenient.
Together we create brilliance, celebrated for 20 years! On the occasion of the 20th anniversary of the WorldWay Immigration Group, to express gratitude for the support and trust of new and old clients over the past 20 years, we are launching the "WorldWay Group 20th Anniversary Celebration, Gratitude and Comprehensive Return Activity" from now until November 12, 2017. During this period, the WorldWay Group will offer numerous significant discounts to share joy with investors. For details, please call: 400-138-2929.