The Municipality of Porto has recently drafted and presented the final version of the Regulation for Sustainable Growth of Local Accommodation. As a property management company in Porto, Host Wise closely monitors these developments to ensure our clients are informed of the latest news and regulations. This article highlights the key aspects of this regulation, its potential impact on the local accommodation industry, and how it could affect our clients.
Key Aspects of the Regulation 🏠
The regulation aims to address the balance between local accommodation and housing, specifically focusing on:
- Identifying areas for sustainable growth and containment
- Ensuring a proper distribution of housing and accessible housing
- Promoting urban development that supports long-term rentals, commerce, and services
Containment and Sustainable Growth Areas 🏘️
The Municipality of Porto has designated specific parishes as either "containment areas" or "sustainable growth areas":
- Containment Areas: Vitória, São Nicolau, Sé, Santo Ildefonso, and Miragaia
- Sustainable Growth Areas: Aldoar, Bonfim, Campanhã, Foz do Douro, Lordelo do Ouro, Massarelos, Paranhos, Nevogilde, Ramalde, and Cedofeita
The containment areas have a ratio of local accommodations equal to or greater than 15%, which the regulation aims to manage. In these zones, new local accommodations will only be permitted under exceptional circumstances, such as urban operations involving new buildings or renovations deemed of special interest to the city. The regulation aims to ensure that 50% of housing and 20% of accessible housing are maintained in these areas.
Implications for Current and Potential Clients 🌱
The new regulation seeks to promote sustainable development in Porto's local accommodation industry. As a result, current and potential clients may experience:
- Changes in the process of setting up new local accommodations
- Adjustments to property investment strategies
- Opportunities for growth in designated sustainable growth areas
It is crucial for property owners and investors to stay informed about the latest regulations and adjust their strategies accordingly.
Get in Touch with Host Wise
At Host Wise, we are committed to providing exceptional property management services in Porto. We closely follow the latest news and regulations to help our clients navigate the ever-changing landscape of local accommodation.
If you have any questions about the new regulation or are interested in our services, we invite you to get in touch with us or explore our key services today. Let us help you make the most of your property investments in Porto.