What Are the Best Places to Invest in Airbnb in Portugal?

Source: AirROI Reviewed by Jun Zhou , Founder @ AirROI

Updated: 2026-07-06

The short-term rental market in Portugal spans 100 cities tracked in AirROI's 2026 dataset, ranging from mature urban markets with thousands of active listings to emerging destinations where early operators still have pricing leverage. Supply growth, regulation, and seasonal demand vary significantly across the region — making market selection one of the highest-leverage decisions an Airbnb investor can make.

This page ranks the best Airbnb markets in Portugal across four dimensions: market depth (active listings), revenue, nightly rate (ADR), and occupancy rate. Lisbon, Lisbon leads by market size with 13,990 active listings and $2,165/month revenue. Across all ranked markets, average occupancy is 40.6% with $1,577/month in average revenue and $190/night ADR.

Rankings based on AirROI's analysis of 20,000,000+ short-term rental listings across revenue, ADR, occupancy, and regulation. See ranking methodology.

Explore Live Market Data

Top Airbnb Markets in Portugal by Active Listings

Active listing count is the most direct measure of a market's depth, maturity, and investor confidence. Cities with the most Airbnb listings in Portugal attract the highest volume of travelers and offer the most reliable benchmarking data for pricing and revenue projections. Lisbon, Lisbon leads with 13,990 active short-term rental listings and $2,165/month in average revenue.

#	Market	Active Listings (TTM)	Revenue/mo	ADR	Occupancy	Regulation
1	Lisbon, Lisbon	13,990	$2,165	$172	49.4%	High
2	Porto, Porto	9,319	$1,665	$145	46.3%	High
3	Albufeira, Faro	5,241	$2,750	$309	44.1%	High
4	Lagos, Faro	3,575	$2,182	$210	49.2%	High
5	Funchal, Madeira	2,838	$3,926	$270	54.7%	High
6	Loulé, Faro	2,644	$2,336	$296	41.3%	High
7	Portimão, Faro	2,565	$1,485	$195	41.8%	High
8	Cascais, Lisbon	1,612	$2,132	$229	44.0%	High
9	Tavira, Faro	1,521	$1,605	$187	43.0%	High
10	Ponta Delgada, Azores	1,382	$1,900	$182	46.6%	High
11	Vila Nova de Gaia, Porto	1,284	$1,665	$158	46.1%	High
12	Faro, Faro	1,268	$1,433	$156	42.7%	High
13	Almada, Setúbal	1,197	$1,632	$178	42.9%	High
14	Sintra, Lisbon	1,132	$1,767	$218	40.2%	High
15	Aljezur, Faro	1,130	$1,607	$187	43.8%	High
16	Nazaré, Leiria	1,085	$1,069	$132	37.0%	High
17	Lagoa e Carvoeiro, Faro	1,026	$2,587	$283	47.7%	High
18	Calheta, Madeira	1,017	$3,027	$213	55.2%	High
19	Peniche, Leiria	1,004	$959	$129	38.8%	High
20	Vila do Bispo, Faro	943	$1,915	$201	45.3%	High
21	Mafra, Lisbon	836	$1,602	$189	42.4%	High
22	Sesimbra, Setúbal	817	$1,478	$202	39.5%	High
23	Odemira, Beja	714	$1,098	$151	37.7%	High
24	Braga, Braga	682	$891	$111	35.7%	High
25	Setúbal, Setúbal	675	$1,204	$180	35.7%	High
26	Armação de Pêra, Faro	617	$1,715	$226	42.7%	High
27	Olhão, Faro	587	$1,707	$163	47.6%	High
28	Coimbra, Coimbra	558	$875	$100	38.1%	High
29	Santa Cruz, Madeira	546	$2,987	$215	51.9%	High
30	Aveiro, Aveiro	537	$834	$116	36.0%	High
31	Viana do Castelo, Viana do Castelo	529	$1,443	$211	35.8%	High
32	Alcobaça, Leiria	452	$998	$156	38.9%	High
33	Matosinhos, Porto	445	$1,405	$137	43.2%	High
34	Vila Real de Santo António, Faro	420	$1,200	$170	39.5%	High
35	Óbidos, Leiria	409	$1,297	$231	34.0%	High
36	Porches, Faro	384	$1,756	$215	43.6%	High
37	Caminha, Viana do Castelo	370	$910	$198	33.9%	High
38	Ponta do Sol, Madeira	363	$3,176	$198	59.3%	High
39	Caldas da Rainha, Leiria	351	$1,278	$196	37.4%	High
40	Ponte de Lima, Viana do Castelo	346	$1,074	$222	30.4%	High
41	São Vicente, Madeira	336	$2,375	$181	54.9%	High
42	Figueira da Foz, Coimbra	333	$817	$144	34.3%	High
43	Grândola, Setúbal	332	$2,538	$453	34.4%	High
44	Esposende, Braga	328	$1,187	$195	39.0%	High
45	Oeiras, Lisbon	314	$1,777	$170	47.2%	High
46	Guimarães, Braga	310	$1,086	$159	36.9%	High
47	Machico, Madeira	302	$1,806	$146	52.9%	High
48	Moncarapacho e Fuseta, Faro	299	$1,550	$177	45.7%	High
49	Vila do Conde, Porto	291	$1,237	$158	37.8%	High
50	Terras de Bouro, Braga	290	$1,134	$181	31.9%	High
51	Ribeira Brava, Madeira	288	$3,414	$209	57.4%	High
52	Santiago do Cacém, Setúbal	283	$1,374	$225	34.5%	High
53	Évora, Évora	253	$1,166	$144	36.8%	High
54	Arcos de Valdevez, Viana do Castelo	252	$987	$171	31.7%	High
55	Torres Vedras, Lisbon	238	$1,305	$174	36.5%	High
56	Ferragudo, Faro	235	$2,210	$273	43.2%	High
57	Póvoa de Varzim, Porto	228	$985	$137	38.4%	High
58	São Roque do Pico, Azores	224	$1,183	$169	40.0%	High
59	Seixal, Setúbal	224	$1,735	$210	38.6%	High
60	Vieira do Minho, Braga	219	$1,281	$214	37.6%	High
61	Lourinhã e Atalaia, Lisbon	216	$1,134	$193	35.4%	High
62	Ílhavo, Aveiro	209	$1,163	$146	37.5%	High
63	Alcantarilha e Pêra, Faro	199	$1,749	$248	41.1%	High
64	Castro Marim, Faro	198	$1,350	$209	38.2%	High
65	Câmara de Lobos, Madeira	195	$3,040	$218	55.1%	High
66	Povoação, Azores	188	$2,052	$197	44.1%	High
67	Ovar, Aveiro	186	$828	$122	36.5%	High
68	Amadora, Lisbon	183	$962	$91	47.7%	High
69	Porto Santo, Madeira	183	$2,233	$253	40.9%	High
70	Silves, Faro	182	$2,115	$244	44.5%	High
71	Leiria, Leiria	182	$809	$149	32.9%	High
72	Porto Moniz, Madeira	182	$1,899	$149	52.2%	High
73	Vila Franca do Campo, Azores	181	$2,114	$216	49.2%	High
74	Tomar, Santarém	177	$1,067	$146	35.7%	High
75	Seia, Guarda	174	$915	$169	26.4%	High
76	Palmela, Setúbal	173	$1,406	$246	33.1%	High
77	Loures, Lisbon	170	$1,207	$117	40.2%	High
78	Santana, Madeira	170	$1,675	$139	49.8%	High
79	Quarteira, Faro District	166	$1,609	$229	40.0%	High
80	Amarante, Porto	162	$1,068	$168	32.3%	High
81	Caniço, Madeira	151	$1,733	$168	50.2%	High
82	Peso da Régua, Vila Real	144	$1,366	$200	29.7%	High
83	Madalena, Azores	143	$1,316	$157	42.3%	High
84	Costa da Caparica, Setúbal	138	$1,147	$174	34.8%	High
85	Espinho, Aveiro	135	$792	$127	35.0%	High
86	Barcelos, Braga	133	$1,195	$197	34.6%	High
87	Reguengos de Monsaraz, Évora	133	$971	$174	29.4%	High
88	Covilhã, Castelo Branco	130	$1,019	$160	30.9%	High
89	São Brás de Alportel, Faro	130	$2,112	$292	40.7%	High
90	Ourém, Santarém	127	$1,135	$156	33.9%	High
91	Quarteira, Faro	125	$1,504	$212	43.2%	High
92	Quelfes, Faro	124	$1,416	$205	43.8%	High
93	Estômbar e Parchal, Faro	121	$1,834	$247	44.2%	High
94	Comporta, Setúbal	119	$3,503	$466	37.9%	High
95	Angra do Heroísmo, Azores	118	$828	$138	33.6%	High
96	Gondomar, Porto	118	$1,697	$207	39.1%	High
97	Sines, Setúbal	118	$1,617	$201	42.1%	High
98	Vila Real, Vila Real	118	$834	$151	30.2%	High
99	Bragança, Bragança	117	$701	$114	29.4%	High
100	Viseu, Viseu	117	$709	$117	28.9%	High

Most Profitable Airbnb Markets in Portugal by Revenue

The most profitable Airbnb cities in Portugal are those where hosts earn the highest average monthly revenue per listing — the single most telling indicator of a market's income potential. Funchal, Madeira leads with $3,926/month at $270 ADR and 54.7% occupancy. Whether you are evaluating your first STR investment or benchmarking an existing property, these top-earning Airbnb markets show where vacation rentals generate the greatest short-term rental income.

#	Market	Revenue/mo	Active Listings (TTM)	ADR	Occupancy	Regulation
1	Funchal, Madeira	$3,926	2,838	$270	54.7%	High
2	Comporta, Setúbal	$3,503	119	$466	37.9%	High
3	Ribeira Brava, Madeira	$3,414	288	$209	57.4%	High
4	Ponta do Sol, Madeira	$3,176	363	$198	59.3%	High
5	Câmara de Lobos, Madeira	$3,040	195	$218	55.1%	High
6	Calheta, Madeira	$3,027	1,017	$213	55.2%	High
7	Santa Cruz, Madeira	$2,987	546	$215	51.9%	High
8	Albufeira, Faro	$2,750	5,241	$309	44.1%	High
9	Lagoa e Carvoeiro, Faro	$2,587	1,026	$283	47.7%	High
10	Grândola, Setúbal	$2,538	332	$453	34.4%	High
11	São Vicente, Madeira	$2,375	336	$181	54.9%	High
12	Loulé, Faro	$2,336	2,644	$296	41.3%	High
13	Porto Santo, Madeira	$2,233	183	$253	40.9%	High
14	Ferragudo, Faro	$2,210	235	$273	43.2%	High
15	Lagos, Faro	$2,182	3,575	$210	49.2%	High
16	Lisbon, Lisbon	$2,165	13,990	$172	49.4%	High
17	Cascais, Lisbon	$2,132	1,612	$229	44.0%	High
18	Silves, Faro	$2,115	182	$244	44.5%	High
19	Vila Franca do Campo, Azores	$2,114	181	$216	49.2%	High
20	São Brás de Alportel, Faro	$2,112	130	$292	40.7%	High
21	Povoação, Azores	$2,052	188	$197	44.1%	High
22	Vila do Bispo, Faro	$1,915	943	$201	45.3%	High
23	Ponta Delgada, Azores	$1,900	1,382	$182	46.6%	High
24	Porto Moniz, Madeira	$1,899	182	$149	52.2%	High
25	Estômbar e Parchal, Faro	$1,834	121	$247	44.2%	High
26	Machico, Madeira	$1,806	302	$146	52.9%	High
27	Oeiras, Lisbon	$1,777	314	$170	47.2%	High
28	Sintra, Lisbon	$1,767	1,132	$218	40.2%	High
29	Porches, Faro	$1,756	384	$215	43.6%	High
30	Alcantarilha e Pêra, Faro	$1,749	199	$248	41.1%	High
31	Seixal, Setúbal	$1,735	224	$210	38.6%	High
32	Caniço, Madeira	$1,733	151	$168	50.2%	High
33	Armação de Pêra, Faro	$1,715	617	$226	42.7%	High
34	Olhão, Faro	$1,707	587	$163	47.6%	High
35	Gondomar, Porto	$1,697	118	$207	39.1%	High
36	Santana, Madeira	$1,675	170	$139	49.8%	High
37	Porto, Porto	$1,665	9,319	$145	46.3%	High
38	Vila Nova de Gaia, Porto	$1,665	1,284	$158	46.1%	High
39	Almada, Setúbal	$1,632	1,197	$178	42.9%	High
40	Sines, Setúbal	$1,617	118	$201	42.1%	High
41	Quarteira, Faro District	$1,609	166	$229	40.0%	High
42	Aljezur, Faro	$1,607	1,130	$187	43.8%	High
43	Tavira, Faro	$1,605	1,521	$187	43.0%	High
44	Mafra, Lisbon	$1,602	836	$189	42.4%	High
45	Moncarapacho e Fuseta, Faro	$1,550	299	$177	45.7%	High
46	Quarteira, Faro	$1,504	125	$212	43.2%	High
47	Portimão, Faro	$1,485	2,565	$195	41.8%	High
48	Sesimbra, Setúbal	$1,478	817	$202	39.5%	High
49	Viana do Castelo, Viana do Castelo	$1,443	529	$211	35.8%	High
50	Faro, Faro	$1,433	1,268	$156	42.7%	High
51	Quelfes, Faro	$1,416	124	$205	43.8%	High
52	Palmela, Setúbal	$1,406	173	$246	33.1%	High
53	Matosinhos, Porto	$1,405	445	$137	43.2%	High
54	Santiago do Cacém, Setúbal	$1,374	283	$225	34.5%	High
55	Peso da Régua, Vila Real	$1,366	144	$200	29.7%	High
56	Castro Marim, Faro	$1,350	198	$209	38.2%	High
57	Madalena, Azores	$1,316	143	$157	42.3%	High
58	Torres Vedras, Lisbon	$1,305	238	$174	36.5%	High
59	Óbidos, Leiria	$1,297	409	$231	34.0%	High
60	Vieira do Minho, Braga	$1,281	219	$214	37.6%	High
61	Caldas da Rainha, Leiria	$1,278	351	$196	37.4%	High
62	Vila do Conde, Porto	$1,237	291	$158	37.8%	High
63	Loures, Lisbon	$1,207	170	$117	40.2%	High
64	Setúbal, Setúbal	$1,204	675	$180	35.7%	High
65	Vila Real de Santo António, Faro	$1,200	420	$170	39.5%	High
66	Barcelos, Braga	$1,195	133	$197	34.6%	High
67	Esposende, Braga	$1,187	328	$195	39.0%	High
68	São Roque do Pico, Azores	$1,183	224	$169	40.0%	High
69	Évora, Évora	$1,166	253	$144	36.8%	High
70	Ílhavo, Aveiro	$1,163	209	$146	37.5%	High
71	Costa da Caparica, Setúbal	$1,147	138	$174	34.8%	High
72	Ourém, Santarém	$1,135	127	$156	33.9%	High
73	Terras de Bouro, Braga	$1,134	290	$181	31.9%	High
74	Lourinhã e Atalaia, Lisbon	$1,134	216	$193	35.4%	High
75	Odemira, Beja	$1,098	714	$151	37.7%	High
76	Guimarães, Braga	$1,086	310	$159	36.9%	High
77	Ponte de Lima, Viana do Castelo	$1,074	346	$222	30.4%	High
78	Nazaré, Leiria	$1,069	1,085	$132	37.0%	High
79	Amarante, Porto	$1,068	162	$168	32.3%	High
80	Tomar, Santarém	$1,067	177	$146	35.7%	High
81	Covilhã, Castelo Branco	$1,019	130	$160	30.9%	High
82	Alcobaça, Leiria	$998	452	$156	38.9%	High
83	Arcos de Valdevez, Viana do Castelo	$987	252	$171	31.7%	High
84	Póvoa de Varzim, Porto	$985	228	$137	38.4%	High
85	Reguengos de Monsaraz, Évora	$971	133	$174	29.4%	High
86	Amadora, Lisbon	$962	183	$91	47.7%	High
87	Peniche, Leiria	$959	1,004	$129	38.8%	High
88	Seia, Guarda	$915	174	$169	26.4%	High
89	Caminha, Viana do Castelo	$910	370	$198	33.9%	High
90	Braga, Braga	$891	682	$111	35.7%	High
91	Coimbra, Coimbra	$875	558	$100	38.1%	High
92	Aveiro, Aveiro	$834	537	$116	36.0%	High
93	Vila Real, Vila Real	$834	118	$151	30.2%	High
94	Ovar, Aveiro	$828	186	$122	36.5%	High
95	Angra do Heroísmo, Azores	$828	118	$138	33.6%	High
96	Figueira da Foz, Coimbra	$817	333	$144	34.3%	High
97	Leiria, Leiria	$809	182	$149	32.9%	High
98	Espinho, Aveiro	$792	135	$127	35.0%	High
99	Viseu, Viseu	$709	117	$117	28.9%	High
100	Bragança, Bragança	$701	117	$114	29.4%	High

Most Expensive Airbnb Markets in Portugal by Nightly Rate

The average daily rate (ADR) measures how much guests pay per night in each market, making it the clearest indicator of a city's short-term rental pricing power. Comporta, Setúbal commands the highest Airbnb nightly rate in Portugal at $466/night, generating $3,503/month at 37.9% occupancy. Markets with premium nightly pricing typically feature high-demand destinations where travelers pay a significant premium over hotel alternatives.

#	Market	ADR	Active Listings (TTM)	Revenue/mo	Occupancy	Regulation
1	Comporta, Setúbal	$466	119	$3,503	37.9%	High
2	Grândola, Setúbal	$453	332	$2,538	34.4%	High
3	Albufeira, Faro	$309	5,241	$2,750	44.1%	High
4	Loulé, Faro	$296	2,644	$2,336	41.3%	High
5	São Brás de Alportel, Faro	$292	130	$2,112	40.7%	High
6	Lagoa e Carvoeiro, Faro	$283	1,026	$2,587	47.7%	High
7	Ferragudo, Faro	$273	235	$2,210	43.2%	High
8	Funchal, Madeira	$270	2,838	$3,926	54.7%	High
9	Porto Santo, Madeira	$253	183	$2,233	40.9%	High
10	Alcantarilha e Pêra, Faro	$248	199	$1,749	41.1%	High
11	Estômbar e Parchal, Faro	$247	121	$1,834	44.2%	High
12	Palmela, Setúbal	$246	173	$1,406	33.1%	High
13	Silves, Faro	$244	182	$2,115	44.5%	High
14	Óbidos, Leiria	$231	409	$1,297	34.0%	High
15	Cascais, Lisbon	$229	1,612	$2,132	44.0%	High
16	Quarteira, Faro District	$229	166	$1,609	40.0%	High
17	Armação de Pêra, Faro	$226	617	$1,715	42.7%	High
18	Santiago do Cacém, Setúbal	$225	283	$1,374	34.5%	High
19	Ponte de Lima, Viana do Castelo	$222	346	$1,074	30.4%	High
20	Sintra, Lisbon	$218	1,132	$1,767	40.2%	High
21	Câmara de Lobos, Madeira	$218	195	$3,040	55.1%	High
22	Vila Franca do Campo, Azores	$216	181	$2,114	49.2%	High
23	Santa Cruz, Madeira	$215	546	$2,987	51.9%	High
24	Porches, Faro	$215	384	$1,756	43.6%	High
25	Vieira do Minho, Braga	$214	219	$1,281	37.6%	High
26	Calheta, Madeira	$213	1,017	$3,027	55.2%	High
27	Quarteira, Faro	$212	125	$1,504	43.2%	High
28	Viana do Castelo, Viana do Castelo	$211	529	$1,443	35.8%	High
29	Seixal, Setúbal	$210	224	$1,735	38.6%	High
30	Lagos, Faro	$210	3,575	$2,182	49.2%	High
31	Castro Marim, Faro	$209	198	$1,350	38.2%	High
32	Ribeira Brava, Madeira	$209	288	$3,414	57.4%	High
33	Gondomar, Porto	$207	118	$1,697	39.1%	High
34	Quelfes, Faro	$205	124	$1,416	43.8%	High
35	Sesimbra, Setúbal	$202	817	$1,478	39.5%	High
36	Sines, Setúbal	$201	118	$1,617	42.1%	High
37	Vila do Bispo, Faro	$201	943	$1,915	45.3%	High
38	Peso da Régua, Vila Real	$200	144	$1,366	29.7%	High
39	Ponta do Sol, Madeira	$198	363	$3,176	59.3%	High
40	Caminha, Viana do Castelo	$198	370	$910	33.9%	High
41	Povoação, Azores	$197	188	$2,052	44.1%	High
42	Barcelos, Braga	$197	133	$1,195	34.6%	High
43	Caldas da Rainha, Leiria	$196	351	$1,278	37.4%	High
44	Esposende, Braga	$195	328	$1,187	39.0%	High
45	Portimão, Faro	$195	2,565	$1,485	41.8%	High
46	Lourinhã e Atalaia, Lisbon	$193	216	$1,134	35.4%	High
47	Mafra, Lisbon	$189	836	$1,602	42.4%	High
48	Tavira, Faro	$187	1,521	$1,605	43.0%	High
49	Aljezur, Faro	$187	1,130	$1,607	43.8%	High
50	Ponta Delgada, Azores	$182	1,382	$1,900	46.6%	High
51	São Vicente, Madeira	$181	336	$2,375	54.9%	High
52	Terras de Bouro, Braga	$181	290	$1,134	31.9%	High
53	Setúbal, Setúbal	$180	675	$1,204	35.7%	High
54	Almada, Setúbal	$178	1,197	$1,632	42.9%	High
55	Moncarapacho e Fuseta, Faro	$177	299	$1,550	45.7%	High
56	Torres Vedras, Lisbon	$174	238	$1,305	36.5%	High
57	Reguengos de Monsaraz, Évora	$174	133	$971	29.4%	High
58	Costa da Caparica, Setúbal	$174	138	$1,147	34.8%	High
59	Lisbon, Lisbon	$172	13,990	$2,165	49.4%	High
60	Arcos de Valdevez, Viana do Castelo	$171	252	$987	31.7%	High
61	Oeiras, Lisbon	$170	314	$1,777	47.2%	High
62	Vila Real de Santo António, Faro	$170	420	$1,200	39.5%	High
63	Seia, Guarda	$169	174	$915	26.4%	High
64	São Roque do Pico, Azores	$169	224	$1,183	40.0%	High
65	Amarante, Porto	$168	162	$1,068	32.3%	High
66	Caniço, Madeira	$168	151	$1,733	50.2%	High
67	Olhão, Faro	$163	587	$1,707	47.6%	High
68	Covilhã, Castelo Branco	$160	130	$1,019	30.9%	High
69	Guimarães, Braga	$159	310	$1,086	36.9%	High
70	Vila do Conde, Porto	$158	291	$1,237	37.8%	High
71	Vila Nova de Gaia, Porto	$158	1,284	$1,665	46.1%	High
72	Madalena, Azores	$157	143	$1,316	42.3%	High
73	Alcobaça, Leiria	$156	452	$998	38.9%	High
74	Faro, Faro	$156	1,268	$1,433	42.7%	High
75	Ourém, Santarém	$156	127	$1,135	33.9%	High
76	Vila Real, Vila Real	$151	118	$834	30.2%	High
77	Odemira, Beja	$151	714	$1,098	37.7%	High
78	Porto Moniz, Madeira	$149	182	$1,899	52.2%	High
79	Leiria, Leiria	$149	182	$809	32.9%	High
80	Ílhavo, Aveiro	$146	209	$1,163	37.5%	High
81	Machico, Madeira	$146	302	$1,806	52.9%	High
82	Tomar, Santarém	$146	177	$1,067	35.7%	High
83	Porto, Porto	$145	9,319	$1,665	46.3%	High
84	Évora, Évora	$144	253	$1,166	36.8%	High
85	Figueira da Foz, Coimbra	$144	333	$817	34.3%	High
86	Santana, Madeira	$139	170	$1,675	49.8%	High
87	Angra do Heroísmo, Azores	$138	118	$828	33.6%	High
88	Póvoa de Varzim, Porto	$137	228	$985	38.4%	High
89	Matosinhos, Porto	$137	445	$1,405	43.2%	High
90	Nazaré, Leiria	$132	1,085	$1,069	37.0%	High
91	Peniche, Leiria	$129	1,004	$959	38.8%	High
92	Espinho, Aveiro	$127	135	$792	35.0%	High
93	Ovar, Aveiro	$122	186	$828	36.5%	High
94	Viseu, Viseu	$117	117	$709	28.9%	High
95	Loures, Lisbon	$117	170	$1,207	40.2%	High
96	Aveiro, Aveiro	$116	537	$834	36.0%	High
97	Bragança, Bragança	$114	117	$701	29.4%	High
98	Braga, Braga	$111	682	$891	35.7%	High
99	Coimbra, Coimbra	$100	558	$875	38.1%	High
100	Amadora, Lisbon	$91	183	$962	47.7%	High

Highest Occupancy Airbnb Markets in Portugal

Airbnb occupancy rate measures the percentage of available nights actually booked — the most telling indicator of short-term rental demand in a market. Ponta do Sol, Madeira leads Portugal with 59.3% occupancy, $3,176/month revenue, and 363 active listings. Markets with the highest STR occupancy rates reflect strong, sustained guest demand — a critical signal for investors evaluating where properties will stay consistently booked year-round. This ranking is filtered to markets with 300+ listings to ensure statistical reliability.

#	Market	Occupancy	Active Listings (TTM)	Revenue/mo	ADR	Regulation
1	Ponta do Sol, Madeira	59.3%	363	$3,176	$198	High
2	Calheta, Madeira	55.2%	1,017	$3,027	$213	High
3	São Vicente, Madeira	54.9%	336	$2,375	$181	High
4	Funchal, Madeira	54.7%	2,838	$3,926	$270	High
5	Machico, Madeira	52.9%	302	$1,806	$146	High
6	Santa Cruz, Madeira	51.9%	546	$2,987	$215	High
7	Lisbon, Lisbon	49.4%	13,990	$2,165	$172	High
8	Lagos, Faro	49.2%	3,575	$2,182	$210	High
9	Lagoa e Carvoeiro, Faro	47.7%	1,026	$2,587	$283	High
10	Olhão, Faro	47.6%	587	$1,707	$163	High
11	Oeiras, Lisbon	47.2%	314	$1,777	$170	High
12	Ponta Delgada, Azores	46.6%	1,382	$1,900	$182	High
13	Porto, Porto	46.3%	9,319	$1,665	$145	High
14	Vila Nova de Gaia, Porto	46.1%	1,284	$1,665	$158	High
15	Vila do Bispo, Faro	45.3%	943	$1,915	$201	High
16	Albufeira, Faro	44.1%	5,241	$2,750	$309	High
17	Cascais, Lisbon	44.0%	1,612	$2,132	$229	High
18	Aljezur, Faro	43.8%	1,130	$1,607	$187	High
19	Porches, Faro	43.6%	384	$1,756	$215	High
20	Matosinhos, Porto	43.2%	445	$1,405	$137	High
21	Tavira, Faro	43.0%	1,521	$1,605	$187	High
22	Almada, Setúbal	42.9%	1,197	$1,632	$178	High
23	Faro, Faro	42.7%	1,268	$1,433	$156	High
24	Armação de Pêra, Faro	42.7%	617	$1,715	$226	High
25	Mafra, Lisbon	42.4%	836	$1,602	$189	High
26	Portimão, Faro	41.8%	2,565	$1,485	$195	High
27	Loulé, Faro	41.3%	2,644	$2,336	$296	High
28	Sintra, Lisbon	40.2%	1,132	$1,767	$218	High
29	Sesimbra, Setúbal	39.5%	817	$1,478	$202	High
30	Vila Real de Santo António, Faro	39.5%	420	$1,200	$170	High
31	Esposende, Braga	39.0%	328	$1,187	$195	High
32	Alcobaça, Leiria	38.9%	452	$998	$156	High
33	Peniche, Leiria	38.8%	1,004	$959	$129	High
34	Coimbra, Coimbra	38.1%	558	$875	$100	High
35	Odemira, Beja	37.7%	714	$1,098	$151	High
36	Caldas da Rainha, Leiria	37.4%	351	$1,278	$196	High
37	Nazaré, Leiria	37.0%	1,085	$1,069	$132	High
38	Guimarães, Braga	36.9%	310	$1,086	$159	High
39	Aveiro, Aveiro	36.0%	537	$834	$116	High
40	Viana do Castelo, Viana do Castelo	35.8%	529	$1,443	$211	High
41	Setúbal, Setúbal	35.7%	675	$1,204	$180	High
42	Braga, Braga	35.7%	682	$891	$111	High
43	Grândola, Setúbal	34.4%	332	$2,538	$453	High
44	Figueira da Foz, Coimbra	34.3%	333	$817	$144	High
45	Óbidos, Leiria	34.0%	409	$1,297	$231	High
46	Caminha, Viana do Castelo	33.9%	370	$910	$198	High
47	Ponte de Lima, Viana do Castelo	30.4%	346	$1,074	$222	High

How to Choose an Airbnb Investment Market in Portugal

No single ranking tells the full story. The best Airbnb market for a given investor depends on their capital, risk tolerance, operating model, and income goals. The four ranking dimensions on this page — market depth, revenue, ADR, and occupancy — serve different investor profiles.

If you prioritize predictable cash flow, start with the occupancy rankings. Markets where occupancy exceeds 55% offer consistent bookings and lower vacancy risk. High-occupancy markets may not have the highest nightly rates, but their revenue stability makes them better suited for mortgage-backed investments where monthly debt coverage matters more than peak earnings.

If you're targeting maximum income per property, use the revenue rankings. Revenue is the product of nightly rate and occupancy — it captures the combined effect of both. The highest-revenue Airbnb markets in Portugal tend to be destination cities where travelers stay longer and pay a premium for entire-home listings.

If you're evaluating luxury or premium positioning, the ADR rankings show where guests are willing to pay top dollar per night. High-ADR markets reward property upgrades, professional photography, and amenity investments. However, a high nightly rate with low occupancy may generate less income than a moderately priced listing that stays booked consistently.

If you want the deepest market data, the active listings rankings identify cities with the largest short-term rental supply. More listings mean more comparable properties for pricing, more data points for revenue projections, and typically a more liquid resale market if your investment thesis changes.

In all cases, check the regulation column before committing capital. A profitable market with high regulation may require permits, annual caps on rental days, or costly compliance steps that erode returns. Markets with low regulation offer faster time-to-market but may tighten rules as STR supply grows.

Short-Term Rental Regulation in Portugal

Understanding the regulatory environment is critical for any Airbnb investment in Portugal. Regulation affects licensing costs, annual operating limits, tax obligations, and the long-term viability of a short-term rental strategy.

Across the 100 markets ranked on this page: 0 have a low regulation profile (generally operator-friendly with minimal licensing requirements), 0 have medium regulation (some permit or registration requirements), and 100 have high regulation (strict licensing, annual rental day caps, or active enforcement). Markets with low regulation offer the lowest barrier to entry, while high-regulation markets may still be profitable — but require careful compliance planning and often limit the number of properties a single operator can manage.

AirROI classifies regulation as a market-level signal based on available ordinance data and platform registration patterns. This is not legal advice — always verify current local ordinances, as short-term rental rules can change rapidly, especially in high-growth markets where municipalities are actively responding to STR expansion.

How We Rank the Best Airbnb Investment Markets in Portugal

This page ranks Airbnb markets in Portugal across four dimensions that matter most to short-term rental investors and operators: market depth (active listings), revenue potential (monthly income per listing), pricing power (average daily rate), and booking demand (occupancy rate). Each ranking uses the same underlying dataset but sorts by a different metric, giving you multiple lenses to evaluate where to invest in Airbnb in Portugal.

No single metric tells the full story. A market with high ADR but low occupancy may underperform one with moderate pricing and strong demand. Revenue captures the combined effect of rate and occupancy, while active listings signal whether a market has enough depth for reliable benchmarking and a liquid resale environment. We include regulation data alongside every ranking so you can weigh compliance risk before committing capital.

Ranking Methodology & Data Sources

Active Listings (TTM): The count of active short-term rental listings in each market over the trailing twelve months — a proxy for market maturity, data reliability, and investor confidence in Portugal.
Monthly Revenue: Average gross revenue per listing per month — the bottom-line metric for evaluating Airbnb profitability in Portugal and projecting cash flow.
Average Daily Rate (ADR): The mean nightly booking price across all active listings — the clearest measure of a market's short-term rental pricing power.
Occupancy Rate: Percentage of available nights booked — the demand signal that determines how much of your nightly rate converts to actual income. Occupancy rankings are filtered to markets with 300+ listings to exclude small markets with unreliable averages.
Regulation: An indicator of the local regulatory climate in Portugal, from low (operator-friendly) to high (strict licensing and enforcement) — essential for assessing compliance risk.

All data is sourced from AirROI's proprietary analytics pipeline, which tracks 20,000,000+ properties across 190+ countries. Metrics are recalculated on a rolling basis using trailing twelve-month aggregates from active listings. For full methodology, see the data methodology page.

Frequently Asked Questions About the Best Airbnb Markets in Portugal

These quick answers summarize the most common investor and operator questions using AirROI's latest market data for Portugal.

What are the best places to invest in Airbnb in Portugal?

Lisbon, Lisbon leads this ranking for Portugal with 13,990 active listings — the largest market by depth. Markets are ranked by listing count because deeper markets offer more comparable data, more pricing benchmarks, and a more predictable operating environment for investors. Each row also shows revenue, ADR, occupancy, and regulation so investors can evaluate based on what matters most to them.

Which market has the highest Airbnb revenue in Portugal?

Funchal, Madeira posts the highest average monthly revenue in this ranking at $3,926. Revenue leaders often combine healthy rates, solid occupancy, and enough listing scale to support repeatable operations rather than one-off outliers.

Which market has the strongest Airbnb occupancy in Portugal?

Ponta do Sol, Madeira has the highest occupancy rate in this comparison at 59.3%. High occupancy can signal resilient demand, but investors still need to balance it against nightly rates, regulation, and supply depth before deciding where to buy or operate.

Which market has the highest Airbnb nightly rate in Portugal?

Comporta, Setúbal commands the highest average daily rate at $466 per night. A high ADR does not automatically translate to the highest revenue — occupancy and seasonality determine how much of that rate converts to realized income.

Is short-term rental investing still profitable in Portugal in 2026?

The markets ranked here average 40.6% occupancy, and the top performer posts $3,926 in monthly revenue. Profitability depends on property acquisition cost, local operating expenses, and regulation compliance — but the data shows active, performing markets exist across Portugal for well-researched investors.

How often are AirROI's top Airbnb market rankings updated?

AirROI updates these rankings using the latest market snapshot available in the dataset, which for this page is anchored to 2026. Rankings should be treated as current market intelligence rather than permanent truths because pricing, demand, regulation, and supply can all shift over time.

What metrics should I use to evaluate Airbnb investments in Portugal?

The most important metrics for comparing short-term rental markets are active listing count (market depth and data reliability), occupancy rate (demand consistency), average daily rate (pricing power), monthly revenue (income potential), and regulation level (compliance cost and risk). This ranking sorts by market depth first; use the other columns to filter for the profile that fits your investment strategy.

What makes a good Airbnb market for first-time investors in Portugal?

First-time investors in Portugal should prioritize markets with high occupancy (55%+) and low regulation, which reduce the risk of empty calendars and compliance surprises. Markets with 200+ active listings also provide better benchmarking data and a more predictable operating environment. Revenue is important, but consistent demand is more forgiving for operators still learning pricing and guest management.

What is a good Airbnb occupancy rate in Portugal?

Across the markets ranked here, the average occupancy rate in Portugal is 40.6%. Occupancy above 50% is generally considered healthy for short-term rentals, and above 65% signals strong, sustained demand. However, the best occupancy rate depends on pricing strategy — some hosts maximize revenue by targeting fewer bookings at higher nightly rates rather than maximizing booking volume.

How does regulation affect Airbnb investment returns in Portugal?

Regulation is one of the most overlooked risks in short-term rental investing. In Portugal, 0 of 100 ranked markets have low regulation, 0 have medium, and 100 have high. High-regulation markets often require permits, limit annual rental days, or impose occupancy taxes — all of which reduce net returns. Low-regulation markets offer faster time-to-market and lower compliance costs, but rules can tighten as STR supply grows.

What is the difference between ADR and RevPAR for Airbnb investing?

ADR (Average Daily Rate) is the average nightly price guests pay, while RevPAR (Revenue Per Available Rental night) factors in both price and occupancy. A market with $200 ADR and 50% occupancy has $100 RevPAR — the same as a market with $125 ADR and 80% occupancy. RevPAR is a better single-number benchmark for comparing markets because it captures how effectively nightly rates convert to realized income. AirROI's city-level reports include RevPAR with percentile breakdowns for deeper analysis.

How many Airbnb listings does a market need to be investable in Portugal?

Markets with fewer than 100 active listings can show volatile averages that do not predict future performance. The median market in this Portugal ranking has about 290 listings. Larger markets (500+) offer more reliable data, more comparable properties for pricing, and typically a more liquid exit if you decide to sell. Smaller markets can still be profitable, but investors should treat the data as directional rather than precise.

How do seasonal and year-round Airbnb markets differ in Portugal?

Seasonal markets in Portugal experience dramatic swings in booking demand — often earning 60-70% of annual revenue in just 3-4 peak months. Year-round markets deliver steadier cash flow with lower peak-to-trough variation. Investors who need predictable monthly income should prioritize high-occupancy markets with low seasonal variance, while those comfortable with cash-flow timing can target seasonal markets where peak rates compensate for off-season softness.

About AirROI Market Data

AirROI tracks over 20 million properties across 190+ countries and maintains 15+ years of historical performance data, making it one of the deepest Airbnb and STR intelligence platforms available. The analytics pipeline aggregates listing-level data monthly — revenue, occupancy, nightly rates, RevPAR, guest demographics, booking patterns, and competitive supply — so investors and operators can benchmark any market against its own history and against neighboring destinations.

Real estate investors, property managers, financial institutions, hospitality consultants, and academic researchers rely on AirROI data to underwrite acquisitions, optimize pricing, model macro trends, and conduct peer-reviewed research. Data is available through in-depth market reports, the data portal for bulk downloads, the Airbnb API with 22 endpoints, and an Airbnb MCP Server for AI agents.

All metrics reflect trailing twelve-month aggregates from active listings as of 2026-07-06. Revenue figures are market averages, not projections. For full methodology, see the data methodology page.

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