Portugal is among the European countries with the highest share of second homes and vacant dwellings, although this proportion has fallen slightly in recent years.
Vacant homes would be sufficient to accommodate rising demand, says Bank of Portugal

Context & Explainers
Local accommodation (alojamento local) means short-term tourist rentals—private apartments, houses or rooms rented for days or weeks—that must be registered and licensed with municipal authorities. Municipalities can suspend or cancel licences (Lisbon cancelled about 6,700 licences in early 2026), so travellers and hosts should check a listing's registration and local rules before booking or offering stays.









