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

Source: AirROI Reviewed by Jun Zhou , Founder @ AirROI

Updated: 2026-08-08

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 13,896 active listings and $2,071/month revenue. Across all ranked markets, average occupancy is 38.3% with $1,470/month in average revenue and $193/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 13,896 active short-term rental listings and $2,071/month in average revenue.

#	Market	Active Listings (TTM)	Revenue/mo	ADR	Occupancy	Regulation
1	Lisbon, Lisbon	13,896	$2,071	$171	47.8%	High
2	Porto, Porto	9,258	$1,589	$145	44.6%	High
3	Albufeira, Faro	5,251	$2,462	$309	40.6%	High
4	Lagos, Faro	3,582	$2,019	$211	46.1%	High
5	Funchal, Madeira	2,868	$3,708	$268	52.4%	High
6	Loulé, Faro	2,624	$2,135	$298	38.5%	High
7	Portimão, Faro	2,564	$1,372	$195	39.3%	High
8	Cascais, Lisbon	1,589	$1,987	$228	41.6%	High
9	Tavira, Faro	1,517	$1,488	$187	40.7%	High
10	Ponta Delgada, Azores	1,376	$1,729	$184	43.8%	High
11	Vila Nova de Gaia, Porto	1,273	$1,591	$158	44.3%	High
12	Faro, Faro	1,252	$1,352	$153	41.0%	High
13	Almada, Setúbal	1,181	$1,520	$177	40.8%	High
14	Aljezur, Faro	1,122	$1,487	$187	41.6%	High
15	Sintra, Lisbon	1,116	$1,638	$217	38.0%	High
16	Nazaré, Leiria	1,089	$975	$132	34.8%	High
17	Lagoa e Carvoeiro, Faro	1,017	$2,330	$285	43.7%	High
18	Calheta, Madeira	1,013	$2,850	$214	52.6%	High
19	Peniche, Leiria	1,001	$853	$129	36.0%	High
20	Vila do Bispo, Faro	943	$1,745	$202	42.4%	High
21	Mafra, Lisbon	829	$1,443	$190	39.1%	High
22	Sesimbra, Setúbal	814	$1,355	$202	36.4%	High
23	Odemira, Beja	713	$1,017	$151	35.8%	High
24	Braga, Braga	679	$850	$111	34.1%	High
25	Setúbal, Setúbal	675	$1,115	$179	34.4%	High
26	Armação de Pêra, Faro	623	$1,563	$224	39.7%	High
27	Olhão, Faro	589	$1,590	$164	45.2%	High
28	Coimbra, Coimbra	551	$832	$99	36.4%	High
29	Santa Cruz, Madeira	540	$2,833	$214	50.0%	High
30	Aveiro, Aveiro	535	$802	$118	34.5%	High
31	Viana do Castelo, Viana do Castelo	527	$1,285	$209	33.9%	High
32	Alcobaça, Leiria	456	$893	$162	36.0%	High
33	Matosinhos, Porto	447	$1,304	$137	40.2%	High
34	Vila Real de Santo António, Faro	418	$1,081	$172	36.4%	High
35	Óbidos, Leiria	415	$1,166	$231	32.1%	High
36	Porches, Faro	382	$1,594	$217	40.7%	High
37	Caminha, Viana do Castelo	367	$804	$196	31.3%	High
38	Ponta do Sol, Madeira	363	$3,037	$199	56.7%	High
39	Caldas da Rainha, Leiria	348	$1,147	$197	35.2%	High
40	Ponte de Lima, Viana do Castelo	340	$1,011	$221	28.8%	High
41	São Vicente, Madeira	339	$2,259	$181	51.8%	High
42	Esposende, Braga	337	$991	$199	35.1%	High
43	Figueira da Foz, Coimbra	335	$752	$144	31.9%	High
44	Grândola, Setúbal	332	$2,339	$452	32.8%	High
45	Guimarães, Braga	311	$1,024	$160	35.4%	High
46	Moncarapacho e Fuseta, Faro	305	$1,346	$175	41.4%	High
47	Oeiras, Lisbon	304	$1,634	$170	44.2%	High
48	Machico, Madeira	304	$1,720	$144	50.5%	High
49	Ribeira Brava, Madeira	291	$3,254	$209	55.6%	High
50	Vila do Conde, Porto	287	$1,145	$159	35.2%	High
51	Terras de Bouro, Braga	282	$1,064	$180	30.4%	High
52	Santiago do Cacém, Setúbal	274	$1,291	$227	33.2%	High
53	Arcos de Valdevez, Viana do Castelo	250	$919	$173	30.0%	High
54	Évora, Évora	249	$1,117	$144	36.1%	High
55	Torres Vedras, Lisbon	241	$1,182	$173	34.1%	High
56	Ferragudo, Faro	232	$2,048	$273	41.5%	High
57	Póvoa de Varzim, Porto	229	$880	$138	35.3%	High
58	Vieira do Minho, Braga	222	$1,140	$216	34.6%	High
59	São Roque do Pico, Azores	221	$1,098	$169	37.7%	High
60	Seixal, Setúbal	221	$1,596	$219	36.7%	High
61	Ílhavo, Aveiro	207	$1,071	$149	35.0%	High
62	Lourinhã e Atalaia, Lisbon	204	$953	$195	31.0%	High
63	Câmara de Lobos, Madeira	201	$2,841	$217	52.9%	High
64	Castro Marim, Faro	196	$1,218	$207	34.3%	High
65	Alcantarilha e Pêra, Faro	195	$1,560	$248	37.4%	High
66	Povoação, Azores	188	$1,914	$198	41.2%	High
67	Ovar, Aveiro	187	$732	$124	32.9%	High
68	Silves, Faro	182	$1,925	$237	41.9%	High
69	Vila Franca do Campo, Azores	181	$1,948	$216	46.2%	High
70	Quarteira, Faro District	180	$1,647	$247	39.3%	High
71	Amadora, Lisbon	180	$922	$89	46.9%	High
72	Porto Santo, Madeira	180	$1,904	$242	38.3%	High
73	Leiria, Leiria	179	$776	$154	30.6%	High
74	Porto Moniz, Madeira	179	$1,785	$150	50.0%	High
75	Tomar, Santarém	174	$998	$147	33.6%	High
76	Seia, Guarda	171	$899	$169	26.1%	High
77	Santana, Madeira	170	$1,594	$139	46.8%	High
78	Palmela, Setúbal	170	$1,327	$247	31.7%	High
79	Loures, Lisbon	167	$1,144	$117	37.8%	High
80	Caniço, Madeira	163	$1,823	$173	49.8%	High
81	Amarante, Porto	160	$1,014	$168	30.5%	High
82	Costa da Caparica, Setúbal	146	$1,142	$172	34.6%	High
83	Madalena, Azores	143	$1,194	$157	39.7%	High
84	Peso da Régua, Vila Real	143	$1,314	$198	28.3%	High
85	São Brás de Alportel, Faro	136	$1,864	$306	38.1%	High
86	Espinho, Aveiro	135	$753	$128	33.1%	High
87	Barcelos, Braga	133	$1,053	$195	32.5%	High
88	Quarteira, Faro	132	$1,347	$213	39.7%	High
89	Reguengos de Monsaraz, Évora	132	$903	$174	27.0%	High
90	Covilhã, Castelo Branco	129	$970	$160	30.1%	High
91	Ourém, Santarém	128	$1,091	$157	33.0%	High
92	Estômbar e Parchal, Faro	125	$1,621	$264	40.2%	High
93	Carvoeiro, Faro District	125	$1,611	$247	39.1%	High
94	Quelfes, Faro	123	$1,275	$207	39.6%	High
95	Angra do Heroísmo, Azores	120	$740	$137	31.1%	High
96	Bragança, Bragança	118	$654	$113	29.3%	High
97	Vila Real, Vila Real	117	$759	$151	28.8%	High
98	Comporta, Setúbal	116	$3,277	$469	34.7%	High
99	Gondomar, Porto	114	$1,599	$209	37.2%	High
100	Penafiel, Porto	114	$1,440	$236	32.1%	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 $3,708/month at $268 ADR and 52.4% 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	$3,708	2,868	$268	52.4%	High
2	Comporta, Setúbal	$3,277	116	$469	34.7%	High
3	Ribeira Brava, Madeira	$3,254	291	$209	55.6%	High
4	Ponta do Sol, Madeira	$3,037	363	$199	56.7%	High
5	Calheta, Madeira	$2,850	1,013	$214	52.6%	High
6	Câmara de Lobos, Madeira	$2,841	201	$217	52.9%	High
7	Santa Cruz, Madeira	$2,833	540	$214	50.0%	High
8	Albufeira, Faro	$2,462	5,251	$309	40.6%	High
9	Grândola, Setúbal	$2,339	332	$452	32.8%	High
10	Lagoa e Carvoeiro, Faro	$2,330	1,017	$285	43.7%	High
11	São Vicente, Madeira	$2,259	339	$181	51.8%	High
12	Loulé, Faro	$2,135	2,624	$298	38.5%	High
13	Lisbon, Lisbon	$2,071	13,896	$171	47.8%	High
14	Ferragudo, Faro	$2,048	232	$273	41.5%	High
15	Lagos, Faro	$2,019	3,582	$211	46.1%	High
16	Cascais, Lisbon	$1,987	1,589	$228	41.6%	High
17	Vila Franca do Campo, Azores	$1,948	181	$216	46.2%	High
18	Silves, Faro	$1,925	182	$237	41.9%	High
19	Povoação, Azores	$1,914	188	$198	41.2%	High
20	Porto Santo, Madeira	$1,904	180	$242	38.3%	High
21	São Brás de Alportel, Faro	$1,864	136	$306	38.1%	High
22	Caniço, Madeira	$1,823	163	$173	49.8%	High
23	Porto Moniz, Madeira	$1,785	179	$150	50.0%	High
24	Vila do Bispo, Faro	$1,745	943	$202	42.4%	High
25	Ponta Delgada, Azores	$1,729	1,376	$184	43.8%	High
26	Machico, Madeira	$1,720	304	$144	50.5%	High
27	Quarteira, Faro District	$1,647	180	$247	39.3%	High
28	Sintra, Lisbon	$1,638	1,116	$217	38.0%	High
29	Oeiras, Lisbon	$1,634	304	$170	44.2%	High
30	Estômbar e Parchal, Faro	$1,621	125	$264	40.2%	High
31	Carvoeiro, Faro District	$1,611	125	$247	39.1%	High
32	Gondomar, Porto	$1,599	114	$209	37.2%	High
33	Seixal, Setúbal	$1,596	221	$219	36.7%	High
34	Santana, Madeira	$1,594	170	$139	46.8%	High
35	Porches, Faro	$1,594	382	$217	40.7%	High
36	Vila Nova de Gaia, Porto	$1,591	1,273	$158	44.3%	High
37	Olhão, Faro	$1,590	589	$164	45.2%	High
38	Porto, Porto	$1,589	9,258	$145	44.6%	High
39	Armação de Pêra, Faro	$1,563	623	$224	39.7%	High
40	Alcantarilha e Pêra, Faro	$1,560	195	$248	37.4%	High
41	Almada, Setúbal	$1,520	1,181	$177	40.8%	High
42	Tavira, Faro	$1,488	1,517	$187	40.7%	High
43	Aljezur, Faro	$1,487	1,122	$187	41.6%	High
44	Mafra, Lisbon	$1,443	829	$190	39.1%	High
45	Penafiel, Porto	$1,440	114	$236	32.1%	High
46	Portimão, Faro	$1,372	2,564	$195	39.3%	High
47	Sesimbra, Setúbal	$1,355	814	$202	36.4%	High
48	Faro, Faro	$1,352	1,252	$153	41.0%	High
49	Quarteira, Faro	$1,347	132	$213	39.7%	High
50	Moncarapacho e Fuseta, Faro	$1,346	305	$175	41.4%	High
51	Palmela, Setúbal	$1,327	170	$247	31.7%	High
52	Peso da Régua, Vila Real	$1,314	143	$198	28.3%	High
53	Matosinhos, Porto	$1,304	447	$137	40.2%	High
54	Santiago do Cacém, Setúbal	$1,291	274	$227	33.2%	High
55	Viana do Castelo, Viana do Castelo	$1,285	527	$209	33.9%	High
56	Quelfes, Faro	$1,275	123	$207	39.6%	High
57	Castro Marim, Faro	$1,218	196	$207	34.3%	High
58	Madalena, Azores	$1,194	143	$157	39.7%	High
59	Torres Vedras, Lisbon	$1,182	241	$173	34.1%	High
60	Óbidos, Leiria	$1,166	415	$231	32.1%	High
61	Caldas da Rainha, Leiria	$1,147	348	$197	35.2%	High
62	Vila do Conde, Porto	$1,145	287	$159	35.2%	High
63	Loures, Lisbon	$1,144	167	$117	37.8%	High
64	Costa da Caparica, Setúbal	$1,142	146	$172	34.6%	High
65	Vieira do Minho, Braga	$1,140	222	$216	34.6%	High
66	Évora, Évora	$1,117	249	$144	36.1%	High
67	Setúbal, Setúbal	$1,115	675	$179	34.4%	High
68	São Roque do Pico, Azores	$1,098	221	$169	37.7%	High
69	Ourém, Santarém	$1,091	128	$157	33.0%	High
70	Vila Real de Santo António, Faro	$1,081	418	$172	36.4%	High
71	Ílhavo, Aveiro	$1,071	207	$149	35.0%	High
72	Terras de Bouro, Braga	$1,064	282	$180	30.4%	High
73	Barcelos, Braga	$1,053	133	$195	32.5%	High
74	Guimarães, Braga	$1,024	311	$160	35.4%	High
75	Odemira, Beja	$1,017	713	$151	35.8%	High
76	Amarante, Porto	$1,014	160	$168	30.5%	High
77	Ponte de Lima, Viana do Castelo	$1,011	340	$221	28.8%	High
78	Tomar, Santarém	$998	174	$147	33.6%	High
79	Esposende, Braga	$991	337	$199	35.1%	High
80	Nazaré, Leiria	$975	1,089	$132	34.8%	High
81	Covilhã, Castelo Branco	$970	129	$160	30.1%	High
82	Lourinhã e Atalaia, Lisbon	$953	204	$195	31.0%	High
83	Amadora, Lisbon	$922	180	$89	46.9%	High
84	Arcos de Valdevez, Viana do Castelo	$919	250	$173	30.0%	High
85	Reguengos de Monsaraz, Évora	$903	132	$174	27.0%	High
86	Seia, Guarda	$899	171	$169	26.1%	High
87	Alcobaça, Leiria	$893	456	$162	36.0%	High
88	Póvoa de Varzim, Porto	$880	229	$138	35.3%	High
89	Peniche, Leiria	$853	1,001	$129	36.0%	High
90	Braga, Braga	$850	679	$111	34.1%	High
91	Coimbra, Coimbra	$832	551	$99	36.4%	High
92	Caminha, Viana do Castelo	$804	367	$196	31.3%	High
93	Aveiro, Aveiro	$802	535	$118	34.5%	High
94	Leiria, Leiria	$776	179	$154	30.6%	High
95	Vila Real, Vila Real	$759	117	$151	28.8%	High
96	Espinho, Aveiro	$753	135	$128	33.1%	High
97	Figueira da Foz, Coimbra	$752	335	$144	31.9%	High
98	Angra do Heroísmo, Azores	$740	120	$137	31.1%	High
99	Ovar, Aveiro	$732	187	$124	32.9%	High
100	Bragança, Bragança	$654	118	$113	29.3%	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 $469/night, generating $3,277/month at 34.7% 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	$469	116	$3,277	34.7%	High
2	Grândola, Setúbal	$452	332	$2,339	32.8%	High
3	Albufeira, Faro	$309	5,251	$2,462	40.6%	High
4	São Brás de Alportel, Faro	$306	136	$1,864	38.1%	High
5	Loulé, Faro	$298	2,624	$2,135	38.5%	High
6	Lagoa e Carvoeiro, Faro	$285	1,017	$2,330	43.7%	High
7	Ferragudo, Faro	$273	232	$2,048	41.5%	High
8	Funchal, Madeira	$268	2,868	$3,708	52.4%	High
9	Estômbar e Parchal, Faro	$264	125	$1,621	40.2%	High
10	Alcantarilha e Pêra, Faro	$248	195	$1,560	37.4%	High
11	Carvoeiro, Faro District	$247	125	$1,611	39.1%	High
12	Palmela, Setúbal	$247	170	$1,327	31.7%	High
13	Quarteira, Faro District	$247	180	$1,647	39.3%	High
14	Porto Santo, Madeira	$242	180	$1,904	38.3%	High
15	Silves, Faro	$237	182	$1,925	41.9%	High
16	Penafiel, Porto	$236	114	$1,440	32.1%	High
17	Óbidos, Leiria	$231	415	$1,166	32.1%	High
18	Cascais, Lisbon	$228	1,589	$1,987	41.6%	High
19	Santiago do Cacém, Setúbal	$227	274	$1,291	33.2%	High
20	Armação de Pêra, Faro	$224	623	$1,563	39.7%	High
21	Ponte de Lima, Viana do Castelo	$221	340	$1,011	28.8%	High
22	Seixal, Setúbal	$219	221	$1,596	36.7%	High
23	Sintra, Lisbon	$217	1,116	$1,638	38.0%	High
24	Câmara de Lobos, Madeira	$217	201	$2,841	52.9%	High
25	Porches, Faro	$217	382	$1,594	40.7%	High
26	Vieira do Minho, Braga	$216	222	$1,140	34.6%	High
27	Vila Franca do Campo, Azores	$216	181	$1,948	46.2%	High
28	Santa Cruz, Madeira	$214	540	$2,833	50.0%	High
29	Calheta, Madeira	$214	1,013	$2,850	52.6%	High
30	Quarteira, Faro	$213	132	$1,347	39.7%	High
31	Lagos, Faro	$211	3,582	$2,019	46.1%	High
32	Viana do Castelo, Viana do Castelo	$209	527	$1,285	33.9%	High
33	Gondomar, Porto	$209	114	$1,599	37.2%	High
34	Ribeira Brava, Madeira	$209	291	$3,254	55.6%	High
35	Castro Marim, Faro	$207	196	$1,218	34.3%	High
36	Quelfes, Faro	$207	123	$1,275	39.6%	High
37	Sesimbra, Setúbal	$202	814	$1,355	36.4%	High
38	Vila do Bispo, Faro	$202	943	$1,745	42.4%	High
39	Ponta do Sol, Madeira	$199	363	$3,037	56.7%	High
40	Esposende, Braga	$199	337	$991	35.1%	High
41	Povoação, Azores	$198	188	$1,914	41.2%	High
42	Peso da Régua, Vila Real	$198	143	$1,314	28.3%	High
43	Caldas da Rainha, Leiria	$197	348	$1,147	35.2%	High
44	Caminha, Viana do Castelo	$196	367	$804	31.3%	High
45	Portimão, Faro	$195	2,564	$1,372	39.3%	High
46	Lourinhã e Atalaia, Lisbon	$195	204	$953	31.0%	High
47	Barcelos, Braga	$195	133	$1,053	32.5%	High
48	Mafra, Lisbon	$190	829	$1,443	39.1%	High
49	Tavira, Faro	$187	1,517	$1,488	40.7%	High
50	Aljezur, Faro	$187	1,122	$1,487	41.6%	High
51	Ponta Delgada, Azores	$184	1,376	$1,729	43.8%	High
52	São Vicente, Madeira	$181	339	$2,259	51.8%	High
53	Terras de Bouro, Braga	$180	282	$1,064	30.4%	High
54	Setúbal, Setúbal	$179	675	$1,115	34.4%	High
55	Almada, Setúbal	$177	1,181	$1,520	40.8%	High
56	Moncarapacho e Fuseta, Faro	$175	305	$1,346	41.4%	High
57	Reguengos de Monsaraz, Évora	$174	132	$903	27.0%	High
58	Torres Vedras, Lisbon	$173	241	$1,182	34.1%	High
59	Arcos de Valdevez, Viana do Castelo	$173	250	$919	30.0%	High
60	Caniço, Madeira	$173	163	$1,823	49.8%	High
61	Vila Real de Santo António, Faro	$172	418	$1,081	36.4%	High
62	Costa da Caparica, Setúbal	$172	146	$1,142	34.6%	High
63	Lisbon, Lisbon	$171	13,896	$2,071	47.8%	High
64	Oeiras, Lisbon	$170	304	$1,634	44.2%	High
65	Seia, Guarda	$169	171	$899	26.1%	High
66	São Roque do Pico, Azores	$169	221	$1,098	37.7%	High
67	Amarante, Porto	$168	160	$1,014	30.5%	High
68	Olhão, Faro	$164	589	$1,590	45.2%	High
69	Alcobaça, Leiria	$162	456	$893	36.0%	High
70	Covilhã, Castelo Branco	$160	129	$970	30.1%	High
71	Guimarães, Braga	$160	311	$1,024	35.4%	High
72	Vila do Conde, Porto	$159	287	$1,145	35.2%	High
73	Vila Nova de Gaia, Porto	$158	1,273	$1,591	44.3%	High
74	Madalena, Azores	$157	143	$1,194	39.7%	High
75	Ourém, Santarém	$157	128	$1,091	33.0%	High
76	Leiria, Leiria	$154	179	$776	30.6%	High
77	Faro, Faro	$153	1,252	$1,352	41.0%	High
78	Odemira, Beja	$151	713	$1,017	35.8%	High
79	Vila Real, Vila Real	$151	117	$759	28.8%	High
80	Porto Moniz, Madeira	$150	179	$1,785	50.0%	High
81	Ílhavo, Aveiro	$149	207	$1,071	35.0%	High
82	Tomar, Santarém	$147	174	$998	33.6%	High
83	Porto, Porto	$145	9,258	$1,589	44.6%	High
84	Machico, Madeira	$144	304	$1,720	50.5%	High
85	Évora, Évora	$144	249	$1,117	36.1%	High
86	Figueira da Foz, Coimbra	$144	335	$752	31.9%	High
87	Santana, Madeira	$139	170	$1,594	46.8%	High
88	Póvoa de Varzim, Porto	$138	229	$880	35.3%	High
89	Angra do Heroísmo, Azores	$137	120	$740	31.1%	High
90	Matosinhos, Porto	$137	447	$1,304	40.2%	High
91	Nazaré, Leiria	$132	1,089	$975	34.8%	High
92	Peniche, Leiria	$129	1,001	$853	36.0%	High
93	Espinho, Aveiro	$128	135	$753	33.1%	High
94	Ovar, Aveiro	$124	187	$732	32.9%	High
95	Aveiro, Aveiro	$118	535	$802	34.5%	High
96	Loures, Lisbon	$117	167	$1,144	37.8%	High
97	Bragança, Bragança	$113	118	$654	29.3%	High
98	Braga, Braga	$111	679	$850	34.1%	High
99	Coimbra, Coimbra	$99	551	$832	36.4%	High
100	Amadora, Lisbon	$89	180	$922	46.9%	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 56.7% occupancy, $3,037/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	56.7%	363	$3,037	$199	High
2	Calheta, Madeira	52.6%	1,013	$2,850	$214	High
3	Funchal, Madeira	52.4%	2,868	$3,708	$268	High
4	São Vicente, Madeira	51.8%	339	$2,259	$181	High
5	Machico, Madeira	50.5%	304	$1,720	$144	High
6	Santa Cruz, Madeira	50.0%	540	$2,833	$214	High
7	Lisbon, Lisbon	47.8%	13,896	$2,071	$171	High
8	Lagos, Faro	46.1%	3,582	$2,019	$211	High
9	Olhão, Faro	45.2%	589	$1,590	$164	High
10	Porto, Porto	44.6%	9,258	$1,589	$145	High
11	Vila Nova de Gaia, Porto	44.3%	1,273	$1,591	$158	High
12	Oeiras, Lisbon	44.2%	304	$1,634	$170	High
13	Ponta Delgada, Azores	43.8%	1,376	$1,729	$184	High
14	Lagoa e Carvoeiro, Faro	43.7%	1,017	$2,330	$285	High
15	Vila do Bispo, Faro	42.4%	943	$1,745	$202	High
16	Cascais, Lisbon	41.6%	1,589	$1,987	$228	High
17	Aljezur, Faro	41.6%	1,122	$1,487	$187	High
18	Moncarapacho e Fuseta, Faro	41.4%	305	$1,346	$175	High
19	Faro, Faro	41.0%	1,252	$1,352	$153	High
20	Almada, Setúbal	40.8%	1,181	$1,520	$177	High
21	Porches, Faro	40.7%	382	$1,594	$217	High
22	Tavira, Faro	40.7%	1,517	$1,488	$187	High
23	Albufeira, Faro	40.6%	5,251	$2,462	$309	High
24	Matosinhos, Porto	40.2%	447	$1,304	$137	High
25	Armação de Pêra, Faro	39.7%	623	$1,563	$224	High
26	Portimão, Faro	39.3%	2,564	$1,372	$195	High
27	Mafra, Lisbon	39.1%	829	$1,443	$190	High
28	Loulé, Faro	38.5%	2,624	$2,135	$298	High
29	Sintra, Lisbon	38.0%	1,116	$1,638	$217	High
30	Sesimbra, Setúbal	36.4%	814	$1,355	$202	High
31	Coimbra, Coimbra	36.4%	551	$832	$99	High
32	Vila Real de Santo António, Faro	36.4%	418	$1,081	$172	High
33	Peniche, Leiria	36.0%	1,001	$853	$129	High
34	Alcobaça, Leiria	36.0%	456	$893	$162	High
35	Odemira, Beja	35.8%	713	$1,017	$151	High
36	Guimarães, Braga	35.4%	311	$1,024	$160	High
37	Caldas da Rainha, Leiria	35.2%	348	$1,147	$197	High
38	Esposende, Braga	35.1%	337	$991	$199	High
39	Nazaré, Leiria	34.8%	1,089	$975	$132	High
40	Aveiro, Aveiro	34.5%	535	$802	$118	High
41	Setúbal, Setúbal	34.4%	675	$1,115	$179	High
42	Braga, Braga	34.1%	679	$850	$111	High
43	Viana do Castelo, Viana do Castelo	33.9%	527	$1,285	$209	High
44	Grândola, Setúbal	32.8%	332	$2,339	$452	High
45	Óbidos, Leiria	32.1%	415	$1,166	$231	High
46	Figueira da Foz, Coimbra	31.9%	335	$752	$144	High
47	Caminha, Viana do Castelo	31.3%	367	$804	$196	High
48	Ponte de Lima, Viana do Castelo	28.8%	340	$1,011	$221	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 13,896 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 $3,708. 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 56.7%. 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 $469 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 38.3% occupancy, and the top performer posts $3,708 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 38.3%. 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 287 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 2026-08-08. Revenue figures are market averages, not projections. For full methodology, see the data methodology page.

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This report is powered by our industry-leading Airbnb Data API, providing direct access to live short-term rental data from global markets like Portugal. Use this data to build powerful analytics tools, discover investment opportunities, and inform your vacation rental strategy.

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What Other Airbnb Markets Are in Portugal?

Aveiro Azores Açores Beja Braga Bragança Castelo Branco Coimbra Faro Faro District Guarda Leiria Leiria District Lisboa Lisbon Madeira Portalegre Porto Santarém Setúbal Viana do Castelo Vila Real Viseu Évora