Over 1,000 Hotels for Sale in Portugal: A Booming Market Analysis

Discover the latest data from CASAFARI on the surge of hotel listings in Portugal, with 31% more properties available in 2024 compared to the previous year.

The hotel market in Portugal experienced growth in the number of units available for sale and rent in the first quarter of 2024 compared to the same period last year. According to data from CASAFARI, a European real estate data platform, there were 1,038 hotels for sale at the end of the 1st quarter of 2024, a 31% increase from the 791 available in the same period last year. Additionally, there were 62 hotel units for rent, representing a 48% increase from the previous year.

The analysis conducted by CASAFARI compared data from the first quarter of 2024 to the same period in the previous year to assess the recent behavior of hotel assets in terms of sales and leasing. At a regional level, Faro, Porto, and Lisbon had the highest number of hotel units available for sale, with regions like Trofa, Penafiel, and Paredes having only one hotel unit available for sale. Sintra, Lourinhã, and Matosinhos saw significant percentage increases in supply, while regions like Odivelas, Baião, and Coimbra experienced negative variations.

The average price per square meter of hotels for sale in Portugal increased by 18% to 3,319 euros in the first quarter of 2024. Cascais, Sintra, and Lisbon had the highest average prices per square meter in the country, while regions like Paredes, Amarante, and Penafiel had the lowest average prices. Lourinhã, Madeira, and Guarda saw the biggest price increases, while Marco de Canaveses, Castelo Branco, and Beja had negative variations.

In terms of rental prices, there were 62 hotels available for rent in the first quarter of 2024, a 48% increase from the previous year. Lisbon, Faro, and Porto had the highest number of hotel units available for rent, while regions like Aveiro, Santarém, and Viseu had only one hotel unit available for rent. The average price per square meter of hotels for rent in Portugal dropped by 43% to 24 euros in the first quarter of 2024. Cascais, Leiria, and Oeiras had the highest average prices per square meter, while Bragança, Viseu, and Aveiro had the lowest average prices.

Overall, the hotel market in Portugal showed growth in both sales and rental availability, with varying price trends across different regions.