Alojamento Local (AL)

The short-term rental licence (the Airbnb-style regime). Registration is restricted in many central freguesias of Lisbon and Porto.

Where people slip: buying a flat "with AL" does not hand you the licence. It is tied to the property and the holder, and continuation on a sale is not automatic — nor is it something the seller can promise you. On top of that, the condominium can object, and in restricted zones a lapsed registration may simply not be reissued.

Do this: before you count on tourist income, verify the registration number and its current status, ask what the condominium rules say, and check whether the freguesia is under restriction. If the whole business case rests on AL, make the purchase conditional on it in the CPCV.