We have just released the report on Local Accommodation covering Lisbon and Porto.
At the end of October 2017, there were 10,215 and 4,679 properties in AL registered in Lisbon and Porto, respectively. Since 2016, the number of this type of accommodation has grown by 30% per year in Lisbon and 97% in Porto. Porto recorded strong growth last year, while the Lisbon market has been growing for longer.
The historic center of Lisbon is responsible for approximately 75% of the Local Accommodation offer in Lisbon, namely the parishes of Santa Maria Maior (where Alfama is located), Misericórdia (Chiado, Bairro Alto), São Vicente (Sé) and Santo António (Av. Liberdade).
The report provides interesting information on the distribution of prices for 1BR and 2BR apartments, in each of the main parishes, throughout the year, which makes it possible to understand the effects of seasonality on prices. span>
As expected, the average price of a 2-night stay in Lisbon is higher than in Porto, with a greater amplitude in the highest quality percentiles, which corroborates the fact that currently investors are looking to increase the quality of the offer, targeting customers with greater purchasing power, where they also find the highest gross return rates (page 12). Compared to Porto, Lisbon has even higher gross profitability rates.
Finally, we present some relevant statistics that support the strong tourist demand in Lisbon, Porto and Portugal as a whole, which has a direct impact on the real estate market:
