There are more than a thousand hotels for sale in Portugal. The number increased in the 1st quarter
The number of hotels for sale in Portugal increased by 31% in the first quarter compared to the same period in 2023, with 1,038 units on the market, mainly concentrated in Faro, Lisbon and Porto, according to an analysis released this Thursday.
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Economia hotéis
According to the conclusions of a study on the hotel market in Portugal, developed by the European real estate data platform Casafari, these hotels have an average price per square meter (m2) of 3,319 euros, which represents an increase of 18% compared to the 2,818 euros of the same period.
Faro, Porto and Lisbon are the regions with the highest number of hotel units for sale (289, 120 and 96, respectively), with several areas having only one unit available, such as Trofa, Penafiel, Paredes, among others.
In turn, Sintra, Lourinhã and Matosinhos stand out as the regions of the country with the highest percentage increases in supply, which grew sevenfold in Sintra, for example, while Odivelas, Baião and Coimbra showed negative variations.
Casafari's analysis shows that the average prices per m2 of hotels for sale in Portugal amounted to 3,319 euros in the first quarter, 18% more than the 2,818 euros recorded in the same period.
At regional level, Cascais, Sintra and Lisbon had the highest average price per m2 in the country (7,213 euros, 6,995 euros and 6,175 euros, respectively). Conversely, Paredes, Amarante and Penafiel had the lowest average prices per m2 in the country.
In percentage terms, Lourinhã, Madeira and Guarda recorded the highest increases, while Marco de Canaveses, Castelo Branco and Beja showed negative variations in the average price per m2 in the first quarter of 2024.
As for the hotels available on the rental market, there were 62 in the first quarter, 48% more than the 42 registered in the first three months of 2023, with Lisbon, Faro and Porto standing out as the regions with the highest number of hotels for rent (18, 12 and 11, respectively).
Conversely, Aveiro, Santarém, Viseu, Viana do Castelo, Beja, among other regions, had only one hotel unit available for rent during the period.
From January to March, Cascais, Porto and Lisbon showed the highest percentage increases, while Sintra, Matosinhos and Évora showed negative variations.
Regarding the average rental value per m2, it registered - in contrast with the average value of units for sale - a year-on-year decrease of 43%, from 41 to 24 euros.
Cascais, Leiria and Oeiras stood out as the regions with the highest average price per m2 in the country (425 euros, 196 euros and 26 euros, respectively) and Bragança, Viseu and Aveiro with the lowest values.
In percentage terms, Vila Real, Setúbal and Coimbra registered the highest increases in the price per square meter for rent in the period under analysis, but Aveiro, Santarém and Leiria showed negative variations.
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