Lisbon After the Crisis: From Credit‐fuelled Suburbanization to Tourist‐driven Gentrification

Abstract

This article examines Lisbon's post-crisis transition from a once dominant process of suburban expansion enabled by abundant credit to one of ongoing gentrification of its historic centre. In my research, I draw on quantitative and qualitative data to illustrate the remarkable growth of the metropolitan area's population and dwelling stock until the global financial crisis--which affected the Portuguese economy in the course of a process of financialization that relied heavily on the housing industry--and the intensity of urban rehabilitation in subsequent years. However, there is evidence that the latter has not halted nor reduced the loss of long-term residents in the historic centre, as tourists and other international gentrifiers occupy the upgraded dwelling stock amid an escalation of house prices and rents. The specific contribution of this research lies in the link that it establishes between Lisbon's ongoing process of inner-city gentrification and the lack of suburban expansion after 2007. By showing that the credit crunch triggered a shift in the geographic location of real-estate capital that materialized in a new urban development model, this research adds an empirical layer to the study of the spatial effects of the crisis and contributes to the literature on the subsequent restructuring of southern European housing markets.

Airbnb, buy-to-let investment and tourism-driven displacement: A case study in Lisbon

“…As a result, Lisbon is experiencing a significant growth of tourism and real estate investment, the latter focusing heavily on housing rehabilitation in run-down central areas (Barata-Salgueiro et al, 2017;Lestega´s, 2019). Rehabilitation is notably marked by the opening of commercial services for visitors, from hotels and STRs to restaurants and nightlife activities (Nofre, 2013).…”

Scalar Containment of Energy Justice and Its Democratic Discontents: Solar Power and Energy Poverty Alleviation

“…The geographic underpinning of energy affordability implies that some countries are more pre-disposed to incidence of energy poverty due to high rates of inequality (Bartiaux et al, 2016). For instance, gentrification has changed where people live in Lisbon (Lestegás, 2019;Sequera and Nofre, 2019). Vicious cycles of vulnerability implicate the multi-dimensional nature of energy poverty, with medically disadvantaged people often at increased risk of experiencing energy poverty, and those with pre-existing conditions more vulnerable to winter mortality (Healy, 2003).…”

Gentrificación turística en Lisboa después de la crisis capitalista 2008-2009 y rent gap: Evidencia reciente

“…1 Pensando en el caso de Lisboa, la literatura sobre los cambios recientes en el mercado de la vivienda y la afirmación de una condición de gentrificación transnacional se ha expandido recientemente y muy rápidamente. Se trata de una tesis y modelo conceptual desarrollado originalmente por Mendes (2016Mendes ( , 2017) y desarrollado por Tulumello (2018), Lestegás (2018Lestegás ( , 2019, Barata Salgueiro et al (2017), Barata Salgueiro (2017), Pavel (2016Pavel ( , 2017, Nofre (2017aNofre ( , 2017bNofre ( , 2018, Alves (2016Alves ( , 2017, Krähmer (2017)…”