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Other areas where apartments are usually rented are sea resorts and the Algarve, this last region having many British, Irish, Dutch, German and French residents. As of 2006, it costs around 500€ to rent a T1 (one bedroom and a living room) apartment in Lisbon, and 90.000€ to buy the same house.
Here’s why some experts believe in the long-term approach over short-term rental platforms. For the full picture, find out some reasons Airbnbs can be better than long-term rentals .
Cycling is a popular sport in Portugal and the region of Algarve has long-established, noteworthy professional cycling teams which compete in the Volta a Portugal and other major cycling events. The Volta ao Algarve is the oldest and most popular road bicycle racing competition in the Algarve region.
While some initially intended short stays, many chose long-term residence, establishing families and pursuing the recognition of their qualifications for access to higher-paying jobs. [81] [82] [83] In addition, Romanians, Moldovans, Chinese and Indians also started to choose Portugal as a destination starting in the late 1990s and early 2000s.
Vacation rentals can also negatively affect local communities in a number of ways. While not the major cause of limited affordable housing, vacation rentals negatively affect the long-term housing market in local communities, especially tourism communities. As more short-term rentals increase, the availability of long-term units decreases.
The time use of a chattel or other so called "personal property" is covered under general contract law, but the term lease also nowadays extends to long term rental contracts of more expensive non-Real properties such as automobiles, boats, planes, office equipment and so forth. The distinction in that case is long term versus short term rentals.
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