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Portugal’s digital nomad bubble

politico.eu

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Re: Portugal’s digital nomad bubble

#31

Post by user_named »

alzamos wrote: post #16

Currently living in the Algarve after moving to Lisbon with my partner for her studies years ago. I know a few non-crypto entrepreneurs who came here for the NHR (non habitual resident scheme - the scheme mentioned in the article which allowed for the 20% tax cap on foreign income). I can confirm that a lot of them were incredibly frustrated with the bureaucracy they encountered, not just when dealing with the govern…

Expats complain about bureaucracy everywhere. A German expat in Sweden will complain about Swedish bureaucracy. A Swedish expat in Germany will complain about German bureaucracy.

It does not mean anything. Expats complain about everything.

Re: Portugal’s digital nomad bubble

#32

Post by PaywallBuster »

rancar2 wrote: post #30
lildata wrote: post #24

Young Portuguese have been emigrating for the last 50 years. The country is full of second residences, bought by people who took advantage of cheap real estate until recently. Blaming today's inflation and cost of living on a few digital nomads or crypto people doesn't make much sense. What also chocked me when visiting Lisbon or Porto is the number of old abandoned buildings in what I would consider nice areas. I ha…

Re abandoned buildings: it’s likely due to the inheritance laws for Portugal, which are unique in the way things are automatically split upon deaths and require official signoff from all parties that are inheritors for sale. If another death occurs, then their own more inheritors for that individual.

also frozen rents: too many buildings have elders paying 50 eur rent that is frozen for decades

So landlords have no option to evict them, don't make enough money for any kind of renovations, have no option but to wait until the elders pass away and the units become available

Re: Portugal’s digital nomad bubble

#33

Post by [deleted] »

whynotmaybe wrote: post #29
lildata wrote: post #24

Young Portuguese have been emigrating for the last 50 years. The country is full of second residences, bought by people who took advantage of cheap real estate until recently. Blaming today's inflation and cost of living on a few digital nomads or crypto people doesn't make much sense. What also chocked me when visiting Lisbon or Porto is the number of old abandoned buildings in what I would consider nice areas. I ha…

No idea about Lisbon but it was common in Brussels to let an old building "rot" to the point where the owner could destroy it and rebuild a new one. This way, they could build a bigger/better building and sell apartment at higher price than just fix the original building. Demolition permit are hard to obtain but if your building is too decrepit, the city will force you to destroy it.

[deleted]

Re: Portugal’s digital nomad bubble

#34

Post by floppydiskette »

lildata wrote: post #24

Young Portuguese have been emigrating for the last 50 years. The country is full of second residences, bought by people who took advantage of cheap real estate until recently. Blaming today's inflation and cost of living on a few digital nomads or crypto people doesn't make much sense. What also chocked me when visiting Lisbon or Porto is the number of old abandoned buildings in what I would consider nice areas. I ha…

I remember walking around nicer areas of Porto and Lisbon and seeing a perfectly regular house right next to a row of dilapidated, caved in buildings. Peering inside the cracked windows, I saw trees growing right in the middle of the home’s living area. It would commonly be one regular home for every 3-4 of those abandoned shacks.

Re: Portugal’s digital nomad bubble

#35

Post by avmich »

ajsnigrutin wrote: post #25
simplotek wrote: post #23

Earlier quoted context omitted.

> The problem is when housing prices are at an all time high and it's almost impossible to find somewhere to rent, even with money in your pocket (...) I have to call bullshit on this one. A few years ago I moved to a different country and I had an awful time trying to find an apartment to rent. Between awfully expensive flats and squalors, I was forced to extend my stay at an hotel for an additional month. This all…

There would be a lot more long-term rentals available if there was no airbnb (because airbnb is the reason that you were unable to find a long-er term rental in the first place). Limit the rentals to 1 month (or 2) minimum and you have all the bases covered.

How come in so many markets suppliers seek the demand and glad to have it, but in real estate market instead of cheerfully increasing the supply there are complaints, proposal to limit and in general offers to do something unusual where the goal could seemingly be achieved by more housing...

Re: Portugal’s digital nomad bubble

#37

Post by PaywallBuster »

Portugal is heavily bureaucratic and centralized in Lisbon

Fire/reduce public servants and spread them away from Lisbon, there, solved!

sources:

"highest increase in jobs can be seen in central administration"

https://www.portugalresident.com/number-of-public-sector-wor...

https://ec.europa.eu/social/BlobServlet?docId=19963&langId=e...

76% centralized government https://op.europa.eu/en/publication-detail/-/publication/b9b...

Re: Portugal’s digital nomad bubble

#40

Post by paranoidrobot »

thefounder wrote: post #6
ajsnigrutin wrote: post #5

Earlier quoted context omitted.

> As for Airbnb, that’s the same is most touristy cities and it’s not just because of nomads. Cities should be for citizens... tourists belong in hotels.

What if the citizens want to make an extra buck renting their property?

The idea we were sold: Rent your spare room, Rent out your whole place while you're away.

The reality: Capital-rich folks buy up properties purely to run AirBNBs.

Almost all of the benefits go to the owners.

Almost all of the downsides go to the neighbours, suburbs and others who are competing to rent/own there.

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