After the Covid-19 pandemic, Lisbon had about 20,000 local accommodation spaces registered in the city. However, the Lisbon municipal council carried out a process of cleaning up the so-called "ghost" registrations, which did not correspond to real operating accommodations, which caused the number to fall to 11,700, representing a reduction of 8,300 local accommodations.
According to a professor from the Instituto Superior de Economia e Gestão (ISEG), the impact of pandemic restrictions was felt in the sector, but this did not mean a drop in house prices. The reduction in the number of local accommodations failed to halt the growth trend in housing costs in the Portuguese capital.
The ISEG professor points to pressure from the lack of supply as the main cause for the continued rise in house prices in Lisbon. In other words, the decrease in local accommodations was not enough to change the real estate market, which continues to face demand higher than the availability of housing.
