July 24, 2016
LISBON – Alfama, one of the oldest and most picturesque areas of Lisbon, is becoming a victim of its own charm. Short-term lets to tourists are driving up rents and driving out old residents. “They want to throw me out to rent my home to tourists,” complained retired salesman Antonio Melo, 70. His house has changed owners four times over the last year and his new landlord has just told him his lease will not be renewed. “Soon there will only be tourists in Alfama,” he said. Melo has lived in the district since he was five years old but now fears he will have no choice but to leave because his 600-euro pension won’t cover the rent of any property there. Local mayor Miguel Coelho echoed the concerns of many in Alfama. “Real estate speculation in Lisbon’s historic centre, which is particularly evident in Alfama, is causing a lot of stress,” he said. “House prices and rents are exorbitant and people are having to think about other options,” he added. The mayors of three of Lisbon’s central districts have called on the government to intervene urgently. They attributed spiralling prices to an “excessive proliferation” of short-term rentals….
Source: http://www.bangkokpost.com/news/world/1043389/priced-out-by-tourists-airbnb-effect-in-lisbons-historic-centre