6-7 years ago there was A LOT of vacant or derelict properties (like, close to 50% maybe). Ever since real estate price started going up in Portugal, Lisbon has

6-7 years ago there was A LOT of vacant or derelict properties (like, close to 50% maybe). Ever since real estate price started going up in Portugal, Lisbon has been full steam into renovating. At one point I could count 47 cranes just from my balcony in Lisbon center. It just takes at least 10 years to refurbish 50% of buildings in a city. The reason there were so many derelict properties was a law in Portugal that prevented landlords to increase rent unless tenants were moving. Some tenant who had been renting for decades paid less than $100/mo. No wonder why landlords had no incentive to fix this. This has now changed, I think?