On the 4th of September 2019, Law no. 97/2019 was published in Portugal’s Official Journal introducing the first amendment, approved under a parliament review, to the Real Estate Investment and Asset Management (SIGIs) regime, approved by Decree-Law no. 19/2019, of 28 January.
Recent amendments to the urban lease regime set forth limitations as regards duration and extension of commercial leases, as well as on termination by the lessor, bringing back a higher level of regulation to the rental market with the objective of protecting tenants.
Royal Decree-Law 21/2018 of December 14, 2018 on urgent measures regarding housing and rental has amended a range of laws taking in the Urban Leasehold Law, the Horizontal Property Law, the Civil Procedure Law, the Local Finances Law and the Transfer and Stamp Tax Law.
The Plenary Session of the Consell de Mallorca, on January 26, 2018, has approved, initially and subject to certain procedures, the provisional delimitation of areas suitable for the commercialization of tourist stays in dwellings for residential use in Mallorca, in accordance with the provisions set forth in of Law 6/2017, July 31, of modification of the Law on tourism in the Balearic Islands, regarding the commercialization of tourist stays in dwellings, and Decree law 3/2017, August 4, of modification of the Law on tourism in the Balearic Islands, and of measures to face the emergency in dwelling matters in the Balearic Islands.