We’ve just released the Short Term Rental Market report covering Lisbon and Porto.
In the end of October 2017 there were 10 215 and 4 679 registered short term rental properties in Lisbon and Porto, respectively. Since 2016, the number of units grew 30% per year in Lisbon and 97% in Porto. Porto registered a strong grow in the last year, while Lisbon market has been growing for more time.
The historical centre of Lisbon are responsible for aproximately 75% of the offer of Short Term Rental units in Lisbon, namely the parishes of Santa Maria Maior (home of Alfama), Misericórdia (Chiado, Bairro Alto), São Vicente (Sé) and Santo António (Av. Liberdade).
The report provides interesting information about price distribution for 1 and 2 bedroom apartments, in each of the top parishes, across the year, which allows learning about price seasonality.
As expected, the average price of 2 nigh stay is higher in Lisbon than in Porto, with a wider gap in the high end of the quality spectrum, which supports the fact that currently investors are trying to increase the quality of offer, targeting high expenders, where they find the also higher gross profitability rates (page 12). When comparing with Porto, Lisbon has still higher gross profitability rates.
Finally, we present a collection of interesting tourism statistics supporting the strong tourism demand for Lisbon, Porto and Portugal as a whole, which impact the demand in the Real Estate Market:
- Lisbon was the 2nd most growing destination between 2009 and 2016;
- Lisbon was the 4th most welcoming city destinations in Europe, in 2017;
- Lisbon was the 14th most popular city destination in Europe in 2016;
- Lisbon and Porto are top 10 destinations according with TRAVEL+LEISURE Magazine;
- Portugal is the 3rd most peaceful country in the world.
You can access the report here.