Lisbon: New housing programme to address unaffordable rent caused by Airbnb

The city of Lisbon started a public programme to take vacant short-term rental units back to the long-term rental market. The authorities will encourage landlords to rent long term by taking on all of the risks of being a landlord to them. The programme is called ‘renda segura’. When landlords are approved, the city rents the unit itself. Landlords shall apply to rent to the city for at least five years in a row. The city will pay the rents at levels considered affordable, which are considered below the Airbnb market value. The city has the responsibility to find tenants through this affordable housing programme. It targets younger renters and lower income families. Landlords will be exempted from capital gains and property taxes. Lisbon has over 25 000 apartments listed on its services.