Welcoming Fall 2022

3 years. Are we back to “normal?”

The world was plagued by Covid, which we hope is far behind us. 3 years ago we started the school year in 2019, all optimistic about what lay ahead. Then around Christmas time, we start hearing about this virus in China and hospitals being built in no time, and the world wondered about what is it and what the heck is going on?!

Then crisis struck. Students that had just arrived for their spring semester in February 2020 were the unlucky ones, having just landed, realized that they would now have to remain indoors for the time being until further notice. Airports were closed and airlines grounded their fleets. Parents worried like crazy. It all seemed surreal. It was surreal!

As a landlord, I didn’t quite know what to tell people what to do. How could I know? No one knew. There was such contradicting research. Some students were wanting to go home but couldn’t and others thought they would ride it out here in Porto. Some students returned home, but kept their rooms because there was hope that it would all be over in a flash…

Well, here we are, about 30 months later. And now everyone is thrilled to be FREE again! Aren´t we all?! Everyone wants to move on with their lives and we all have the right to! Students, mostly foreign exchange, are getting ready to flock to Portugal to do their foreign exchange program, via Erasmus. Others are just looking to come here for the sun, surf, and party life. Whatever the reason, all are welcome.

There has been an avalanche of room inquiries and bookings have been record-breaking and we haven’t even reached September yet when most students begin their planning for the upcoming semester. Unfortunately, these students will not have much to choose from in terms of rooms. Everything filled up quickly this year, in our case, by July, give or take a few that have had to leave or had a change of plans.

Inflation Crisis

One unfortunate event for 2022, was the war in Ukraine. This brought about higher energy costs and overall higher costs, hence, inflation. Inflation is on the rise and this has brought about some adversity for some. Rents have soared, something as a landlord, I try to control and keep at competitive rates. Nonetheless, given the present situation, energy and utility prices are up for us quite a bit, and this cost has to be passed on to the consumer.

And even when the war ends (we all hope for soon), bills and inflation will continue high, which means rent prices will probably stay at this new level. This makes it harder for lower-income tenants to be able to afford to live in Portugal. It may be a shot in the foot for everyone doing business in Portugal if there is not some easing up on costs from all participating industries.

Putting the negative economic aspect aside, let’s look forward to a great school year in 2022/2023, and welcome everyone to Porto. As a landlord, I ask you all to keep in mind, safety first above all else. I am always here to assist you or help in any way I can, both on a professional or friendly level.