Increased demand justifies the rise in tariffs for accommodation on the Airbnb platform. Profitability of Portuguese real estate has jumped in 2017. The local housing is practically depleted in the cities of Lisbon and Porto for the night of the year. And prices are breaking records, according to the AirDNA platform. They increased by 76.5% in Lisbon and more than doubled (126%) in Oporto, compared to December last year. The average fare for New Year's Eve is € 113 in Lisbon and € 129 in Porto, the most expensive city in the country.
Good energy performance of real estate rewarded with reduction of IMI rate by 15%. Benefit extends to buildings that take advantage of treated or stormwater. The Lisbon City Council has approved for 2018 the reinforcement of tax benefits for urban buildings that increase their energy performance by two levels or have energy efficiency class A or higher.
Foreigners weigh 24% in value on total traded houses. Foreign investors who purchase housing in the center of Lisbon spend an average of 40% more than domestic buyers. In the last year and a half (between January 2016 and June 2017) foreigners who bought a house in the eleven parishes of Lisbon monitored by SIR-Urban Rehabilitation (Ajuda, Alcântara, Arroios, Avenidas Novas, Belém, Campo de Ourique, Estrela, Misericórdia, Santa Maria Maior, Santo António and São Vicente) invested an average of 338 thousand euros. This figure is about 40% above the 244,000 euros invested per acquisition, on average, by the Portuguese in these areas in the same period.