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

Source: AirROI Reviewed by Jun Zhou , Founder @ AirROI

Updated: 2026-04-09

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 12,838 active listings and $2,347/month revenue. Across all ranked markets, average occupancy is 42.3% with $1,692/month in average revenue and $188/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 12,838 active short-term rental listings and $2,347/month in average revenue.

#	Market	Active Listings (TTM)	Revenue/mo	ADR	Occupancy	Regulation
1	Lisbon, Lisbon	12,838	$2,347	$168	52.6%	High
2	Porto, Porto	8,473	$1,846	$143	49.8%	High
3	Albufeira, Faro	5,038	$2,938	$304	47.1%	High
4	Lagos, Faro	3,510	$2,248	$203	51.4%	High
5	Loulé, Faro	2,679	$2,420	$291	42.7%	High
6	Portimão, Faro	2,484	$1,576	$189	43.8%	High
7	Funchal, Madeira	2,440	$4,299	$269	58.1%	High
8	Cascais, Lisbon	1,575	$2,287	$225	46.1%	High
9	Tavira, Faro	1,488	$1,628	$184	44.2%	High
10	Ponta Delgada, Azores	1,346	$2,078	$177	51.0%	High
11	Almada, Setúbal	1,160	$1,796	$173	45.5%	High
12	Vila Nova de Gaia, Porto	1,150	$1,847	$154	49.3%	High
13	Sintra, Lisbon	1,134	$1,843	$212	41.8%	High
14	Faro, Faro	1,117	$1,582	$155	45.6%	High
15	Aljezur, Faro	1,084	$1,717	$179	45.4%	High
16	Lagoa e Carvoeiro, Faro	1,037	$2,686	$267	49.8%	High
17	Calheta, Madeira	1,031	$3,097	$207	57.8%	High
18	Nazaré, Leiria	1,018	$1,153	$130	38.4%	High
19	Peniche, Leiria	1,003	$1,004	$126	39.1%	High
20	Vila do Bispo, Faro	947	$1,961	$192	46.8%	High
21	Mafra, Lisbon	856	$1,681	$183	43.4%	High
22	Sesimbra, Setúbal	784	$1,582	$197	40.7%	High
23	Odemira, Beja	709	$1,133	$144	38.3%	High
24	Braga, Braga	627	$955	$110	38.0%	High
25	Setúbal, Setúbal	620	$1,338	$181	38.0%	High
26	Armação de Pêra, Faro	585	$1,824	$222	45.0%	High
27	Olhão, Faro	542	$1,786	$161	49.6%	High
28	Coimbra, Coimbra	538	$958	$99	40.8%	High
29	Viana do Castelo, Viana do Castelo	522	$1,494	$206	36.6%	High
30	Santa Cruz, Madeira	516	$3,243	$213	55.9%	High
31	Alcobaça, Leiria	451	$1,052	$152	39.1%	High
32	Aveiro, Aveiro	425	$999	$118	38.4%	High
33	Vila Real de Santo António, Faro	424	$1,212	$163	40.8%	High
34	Matosinhos, Porto	415	$1,529	$130	46.2%	High
35	Óbidos, Leiria	399	$1,413	$225	34.7%	High
36	Porches, Faro	379	$1,864	$211	46.1%	High
37	Caminha, Viana do Castelo	357	$984	$199	34.1%	High
38	Ponte de Lima, Viana do Castelo	345	$1,114	$216	30.7%	High
39	Caldas da Rainha, Leiria	335	$1,422	$190	39.0%	High
40	Figueira da Foz, Coimbra	333	$855	$137	35.6%	High
41	Esposende, Braga	329	$1,240	$187	39.5%	High
42	Oeiras, Lisbon	324	$1,865	$159	49.8%	High
43	Ponta do Sol, Madeira	320	$3,501	$198	63.0%	High
44	Grândola, Setúbal	315	$2,737	$446	34.9%	High
45	Moncarapacho e Fuseta, Faro	303	$1,577	$165	46.0%	High
46	Guimarães, Braga	296	$1,130	$157	36.8%	High
47	Terras de Bouro, Braga	288	$1,188	$175	32.1%	High
48	São Vicente, Madeira	282	$2,724	$179	59.1%	High
49	Santiago do Cacém, Setúbal	279	$1,447	$215	34.5%	High
50	Vila do Conde, Porto	270	$1,383	$156	40.7%	High
51	Machico, Madeira	267	$1,949	$137	57.5%	High
52	Évora, Évora	261	$1,177	$141	36.2%	High
53	Ribeira Brava, Madeira	258	$3,677	$210	61.4%	High
54	Arcos de Valdevez, Viana do Castelo	244	$1,032	$157	32.0%	High
55	Torres Vedras, Lisbon	233	$1,360	$168	36.8%	High
56	São Roque do Pico, Azores	224	$1,245	$163	40.4%	High
57	Vieira do Minho, Braga	221	$1,301	$212	37.0%	High
58	Ferragudo, Faro	219	$2,519	$268	46.4%	High
59	Lourinhã e Atalaia, Lisbon	219	$1,231	$191	35.2%	High
60	Seixal, Setúbal	210	$2,063	$214	41.5%	High
61	Ílhavo, Aveiro	207	$1,214	$141	39.1%	High
62	Póvoa de Varzim, Porto	205	$1,117	$134	41.5%	High
63	Alcantarilha e Pêra, Faro	200	$1,904	$248	42.5%	High
64	Castro Marim, Faro	195	$1,394	$197	38.8%	High
65	Povoação, Azores	187	$2,224	$189	50.5%	High
66	Vila Franca do Campo, Azores	185	$2,271	$216	52.4%	High
67	Silves, Faro	179	$2,265	$241	46.3%	High
68	Seia, Guarda	179	$883	$160	27.1%	High
69	Porto Santo, Madeira	179	$2,430	$244	42.8%	High
70	Palmela, Setúbal	174	$1,459	$238	34.1%	High
71	Amadora, Lisbon	173	$997	$84	50.9%	High
72	Porto Moniz, Madeira	173	$2,014	$140	56.5%	High
73	Leiria, Leiria	171	$895	$145	34.8%	High
74	Tomar, Santarém	171	$1,126	$140	37.2%	High
75	Loures, Lisbon	168	$1,265	$113	42.9%	High
76	Ovar, Aveiro	166	$917	$119	38.5%	High
77	Amarante, Porto	159	$1,128	$163	33.5%	High
78	Santana, Madeira	151	$1,875	$133	54.3%	High
79	Peso da Régua, Vila Real	145	$1,479	$192	32.6%	High
80	Câmara de Lobos, Madeira	141	$3,649	$243	60.2%	High
81	Madalena, Azores	138	$1,488	$154	46.4%	High
82	Estômbar e Parchal, Faro	130	$1,901	$238	43.0%	High
83	Barcelos, Braga	129	$1,230	$196	34.2%	High
84	São Brás de Alportel, Faro	127	$2,166	$299	44.5%	High
85	Reguengos de Monsaraz, Évora	127	$1,025	$162	30.5%	High
86	Covilhã, Castelo Branco	124	$1,041	$157	30.9%	High
87	Ourém, Santarém	122	$1,177	$147	36.0%	High
88	Espinho, Aveiro	121	$882	$123	35.6%	High
89	Gondomar, Porto	121	$1,734	$195	41.1%	High
90	Quelfes, Faro	119	$1,463	$201	44.5%	High
91	Sines, Setúbal	116	$1,638	$192	41.7%	High
92	Bragança, Bragança	113	$714	$110	30.3%	High
93	Penafiel, Porto	112	$1,610	$226	35.0%	High
94	Comporta, Setúbal	110	$3,792	$446	40.0%	High
95	Vila Real, Vila Real	108	$903	$152	31.6%	High
96	Cabeceiras de Basto, Braga	102	$1,138	$187	34.8%	High
97	Monchique, Faro	100	$1,486	$161	42.1%	High
98	Quarteira, Faro District	100	$1,915	$271	45.9%	High
99	Viseu, Viseu	97	$769	$119	30.3%	High
100	Celorico de Basto, Braga	96	$1,453	$243	33.9%	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 $4,299/month at $269 ADR and 58.1% 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	$4,299	2,440	$269	58.1%	High
2	Comporta, Setúbal	$3,792	110	$446	40.0%	High
3	Ribeira Brava, Madeira	$3,677	258	$210	61.4%	High
4	Câmara de Lobos, Madeira	$3,649	141	$243	60.2%	High
5	Ponta do Sol, Madeira	$3,501	320	$198	63.0%	High
6	Santa Cruz, Madeira	$3,243	516	$213	55.9%	High
7	Calheta, Madeira	$3,097	1,031	$207	57.8%	High
8	Albufeira, Faro	$2,938	5,038	$304	47.1%	High
9	Grândola, Setúbal	$2,737	315	$446	34.9%	High
10	São Vicente, Madeira	$2,724	282	$179	59.1%	High
11	Lagoa e Carvoeiro, Faro	$2,686	1,037	$267	49.8%	High
12	Ferragudo, Faro	$2,519	219	$268	46.4%	High
13	Porto Santo, Madeira	$2,430	179	$244	42.8%	High
14	Loulé, Faro	$2,420	2,679	$291	42.7%	High
15	Lisbon, Lisbon	$2,347	12,838	$168	52.6%	High
16	Cascais, Lisbon	$2,287	1,575	$225	46.1%	High
17	Vila Franca do Campo, Azores	$2,271	185	$216	52.4%	High
18	Silves, Faro	$2,265	179	$241	46.3%	High
19	Lagos, Faro	$2,248	3,510	$203	51.4%	High
20	Povoação, Azores	$2,224	187	$189	50.5%	High
21	São Brás de Alportel, Faro	$2,166	127	$299	44.5%	High
22	Ponta Delgada, Azores	$2,078	1,346	$177	51.0%	High
23	Seixal, Setúbal	$2,063	210	$214	41.5%	High
24	Porto Moniz, Madeira	$2,014	173	$140	56.5%	High
25	Vila do Bispo, Faro	$1,961	947	$192	46.8%	High
26	Machico, Madeira	$1,949	267	$137	57.5%	High
27	Quarteira, Faro District	$1,915	100	$271	45.9%	High
28	Alcantarilha e Pêra, Faro	$1,904	200	$248	42.5%	High
29	Estômbar e Parchal, Faro	$1,901	130	$238	43.0%	High
30	Santana, Madeira	$1,875	151	$133	54.3%	High
31	Oeiras, Lisbon	$1,865	324	$159	49.8%	High
32	Porches, Faro	$1,864	379	$211	46.1%	High
33	Vila Nova de Gaia, Porto	$1,847	1,150	$154	49.3%	High
34	Porto, Porto	$1,846	8,473	$143	49.8%	High
35	Sintra, Lisbon	$1,843	1,134	$212	41.8%	High
36	Armação de Pêra, Faro	$1,824	585	$222	45.0%	High
37	Almada, Setúbal	$1,796	1,160	$173	45.5%	High
38	Olhão, Faro	$1,786	542	$161	49.6%	High
39	Gondomar, Porto	$1,734	121	$195	41.1%	High
40	Aljezur, Faro	$1,717	1,084	$179	45.4%	High
41	Mafra, Lisbon	$1,681	856	$183	43.4%	High
42	Sines, Setúbal	$1,638	116	$192	41.7%	High
43	Tavira, Faro	$1,628	1,488	$184	44.2%	High
44	Penafiel, Porto	$1,610	112	$226	35.0%	High
45	Sesimbra, Setúbal	$1,582	784	$197	40.7%	High
46	Faro, Faro	$1,582	1,117	$155	45.6%	High
47	Moncarapacho e Fuseta, Faro	$1,577	303	$165	46.0%	High
48	Portimão, Faro	$1,576	2,484	$189	43.8%	High
49	Matosinhos, Porto	$1,529	415	$130	46.2%	High
50	Viana do Castelo, Viana do Castelo	$1,494	522	$206	36.6%	High
51	Madalena, Azores	$1,488	138	$154	46.4%	High
52	Monchique, Faro	$1,486	100	$161	42.1%	High
53	Peso da Régua, Vila Real	$1,479	145	$192	32.6%	High
54	Quelfes, Faro	$1,463	119	$201	44.5%	High
55	Palmela, Setúbal	$1,459	174	$238	34.1%	High
56	Celorico de Basto, Braga	$1,453	96	$243	33.9%	High
57	Santiago do Cacém, Setúbal	$1,447	279	$215	34.5%	High
58	Caldas da Rainha, Leiria	$1,422	335	$190	39.0%	High
59	Óbidos, Leiria	$1,413	399	$225	34.7%	High
60	Castro Marim, Faro	$1,394	195	$197	38.8%	High
61	Vila do Conde, Porto	$1,383	270	$156	40.7%	High
62	Torres Vedras, Lisbon	$1,360	233	$168	36.8%	High
63	Setúbal, Setúbal	$1,338	620	$181	38.0%	High
64	Vieira do Minho, Braga	$1,301	221	$212	37.0%	High
65	Loures, Lisbon	$1,265	168	$113	42.9%	High
66	São Roque do Pico, Azores	$1,245	224	$163	40.4%	High
67	Esposende, Braga	$1,240	329	$187	39.5%	High
68	Lourinhã e Atalaia, Lisbon	$1,231	219	$191	35.2%	High
69	Barcelos, Braga	$1,230	129	$196	34.2%	High
70	Ílhavo, Aveiro	$1,214	207	$141	39.1%	High
71	Vila Real de Santo António, Faro	$1,212	424	$163	40.8%	High
72	Terras de Bouro, Braga	$1,188	288	$175	32.1%	High
73	Ourém, Santarém	$1,177	122	$147	36.0%	High
74	Évora, Évora	$1,177	261	$141	36.2%	High
75	Nazaré, Leiria	$1,153	1,018	$130	38.4%	High
76	Cabeceiras de Basto, Braga	$1,138	102	$187	34.8%	High
77	Odemira, Beja	$1,133	709	$144	38.3%	High
78	Guimarães, Braga	$1,130	296	$157	36.8%	High
79	Amarante, Porto	$1,128	159	$163	33.5%	High
80	Tomar, Santarém	$1,126	171	$140	37.2%	High
81	Póvoa de Varzim, Porto	$1,117	205	$134	41.5%	High
82	Ponte de Lima, Viana do Castelo	$1,114	345	$216	30.7%	High
83	Alcobaça, Leiria	$1,052	451	$152	39.1%	High
84	Covilhã, Castelo Branco	$1,041	124	$157	30.9%	High
85	Arcos de Valdevez, Viana do Castelo	$1,032	244	$157	32.0%	High
86	Reguengos de Monsaraz, Évora	$1,025	127	$162	30.5%	High
87	Peniche, Leiria	$1,004	1,003	$126	39.1%	High
88	Aveiro, Aveiro	$999	425	$118	38.4%	High
89	Amadora, Lisbon	$997	173	$84	50.9%	High
90	Caminha, Viana do Castelo	$984	357	$199	34.1%	High
91	Coimbra, Coimbra	$958	538	$99	40.8%	High
92	Braga, Braga	$955	627	$110	38.0%	High
93	Ovar, Aveiro	$917	166	$119	38.5%	High
94	Vila Real, Vila Real	$903	108	$152	31.6%	High
95	Leiria, Leiria	$895	171	$145	34.8%	High
96	Seia, Guarda	$883	179	$160	27.1%	High
97	Espinho, Aveiro	$882	121	$123	35.6%	High
98	Figueira da Foz, Coimbra	$855	333	$137	35.6%	High
99	Viseu, Viseu	$769	97	$119	30.3%	High
100	Bragança, Bragança	$714	113	$110	30.3%	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. Grândola, Setúbal commands the highest Airbnb nightly rate in Portugal at $446/night, generating $2,737/month at 34.9% 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	Grândola, Setúbal	$446	315	$2,737	34.9%	High
2	Comporta, Setúbal	$446	110	$3,792	40.0%	High
3	Albufeira, Faro	$304	5,038	$2,938	47.1%	High
4	São Brás de Alportel, Faro	$299	127	$2,166	44.5%	High
5	Loulé, Faro	$291	2,679	$2,420	42.7%	High
6	Quarteira, Faro District	$271	100	$1,915	45.9%	High
7	Funchal, Madeira	$269	2,440	$4,299	58.1%	High
8	Ferragudo, Faro	$268	219	$2,519	46.4%	High
9	Lagoa e Carvoeiro, Faro	$267	1,037	$2,686	49.8%	High
10	Alcantarilha e Pêra, Faro	$248	200	$1,904	42.5%	High
11	Porto Santo, Madeira	$244	179	$2,430	42.8%	High
12	Celorico de Basto, Braga	$243	96	$1,453	33.9%	High
13	Câmara de Lobos, Madeira	$243	141	$3,649	60.2%	High
14	Silves, Faro	$241	179	$2,265	46.3%	High
15	Estômbar e Parchal, Faro	$238	130	$1,901	43.0%	High
16	Palmela, Setúbal	$238	174	$1,459	34.1%	High
17	Penafiel, Porto	$226	112	$1,610	35.0%	High
18	Óbidos, Leiria	$225	399	$1,413	34.7%	High
19	Cascais, Lisbon	$225	1,575	$2,287	46.1%	High
20	Armação de Pêra, Faro	$222	585	$1,824	45.0%	High
21	Ponte de Lima, Viana do Castelo	$216	345	$1,114	30.7%	High
22	Vila Franca do Campo, Azores	$216	185	$2,271	52.4%	High
23	Santiago do Cacém, Setúbal	$215	279	$1,447	34.5%	High
24	Seixal, Setúbal	$214	210	$2,063	41.5%	High
25	Santa Cruz, Madeira	$213	516	$3,243	55.9%	High
26	Sintra, Lisbon	$212	1,134	$1,843	41.8%	High
27	Vieira do Minho, Braga	$212	221	$1,301	37.0%	High
28	Porches, Faro	$211	379	$1,864	46.1%	High
29	Ribeira Brava, Madeira	$210	258	$3,677	61.4%	High
30	Calheta, Madeira	$207	1,031	$3,097	57.8%	High
31	Viana do Castelo, Viana do Castelo	$206	522	$1,494	36.6%	High
32	Lagos, Faro	$203	3,510	$2,248	51.4%	High
33	Quelfes, Faro	$201	119	$1,463	44.5%	High
34	Caminha, Viana do Castelo	$199	357	$984	34.1%	High
35	Ponta do Sol, Madeira	$198	320	$3,501	63.0%	High
36	Sesimbra, Setúbal	$197	784	$1,582	40.7%	High
37	Castro Marim, Faro	$197	195	$1,394	38.8%	High
38	Barcelos, Braga	$196	129	$1,230	34.2%	High
39	Gondomar, Porto	$195	121	$1,734	41.1%	High
40	Peso da Régua, Vila Real	$192	145	$1,479	32.6%	High
41	Sines, Setúbal	$192	116	$1,638	41.7%	High
42	Vila do Bispo, Faro	$192	947	$1,961	46.8%	High
43	Lourinhã e Atalaia, Lisbon	$191	219	$1,231	35.2%	High
44	Caldas da Rainha, Leiria	$190	335	$1,422	39.0%	High
45	Portimão, Faro	$189	2,484	$1,576	43.8%	High
46	Povoação, Azores	$189	187	$2,224	50.5%	High
47	Cabeceiras de Basto, Braga	$187	102	$1,138	34.8%	High
48	Esposende, Braga	$187	329	$1,240	39.5%	High
49	Tavira, Faro	$184	1,488	$1,628	44.2%	High
50	Mafra, Lisbon	$183	856	$1,681	43.4%	High
51	Setúbal, Setúbal	$181	620	$1,338	38.0%	High
52	Aljezur, Faro	$179	1,084	$1,717	45.4%	High
53	São Vicente, Madeira	$179	282	$2,724	59.1%	High
54	Ponta Delgada, Azores	$177	1,346	$2,078	51.0%	High
55	Terras de Bouro, Braga	$175	288	$1,188	32.1%	High
56	Almada, Setúbal	$173	1,160	$1,796	45.5%	High
57	Lisbon, Lisbon	$168	12,838	$2,347	52.6%	High
58	Torres Vedras, Lisbon	$168	233	$1,360	36.8%	High
59	Moncarapacho e Fuseta, Faro	$165	303	$1,577	46.0%	High
60	Amarante, Porto	$163	159	$1,128	33.5%	High
61	Vila Real de Santo António, Faro	$163	424	$1,212	40.8%	High
62	São Roque do Pico, Azores	$163	224	$1,245	40.4%	High
63	Reguengos de Monsaraz, Évora	$162	127	$1,025	30.5%	High
64	Olhão, Faro	$161	542	$1,786	49.6%	High
65	Monchique, Faro	$161	100	$1,486	42.1%	High
66	Seia, Guarda	$160	179	$883	27.1%	High
67	Oeiras, Lisbon	$159	324	$1,865	49.8%	High
68	Covilhã, Castelo Branco	$157	124	$1,041	30.9%	High
69	Guimarães, Braga	$157	296	$1,130	36.8%	High
70	Arcos de Valdevez, Viana do Castelo	$157	244	$1,032	32.0%	High
71	Vila do Conde, Porto	$156	270	$1,383	40.7%	High
72	Faro, Faro	$155	1,117	$1,582	45.6%	High
73	Vila Nova de Gaia, Porto	$154	1,150	$1,847	49.3%	High
74	Madalena, Azores	$154	138	$1,488	46.4%	High
75	Vila Real, Vila Real	$152	108	$903	31.6%	High
76	Alcobaça, Leiria	$152	451	$1,052	39.1%	High
77	Ourém, Santarém	$147	122	$1,177	36.0%	High
78	Leiria, Leiria	$145	171	$895	34.8%	High
79	Odemira, Beja	$144	709	$1,133	38.3%	High
80	Porto, Porto	$143	8,473	$1,846	49.8%	High
81	Ílhavo, Aveiro	$141	207	$1,214	39.1%	High
82	Évora, Évora	$141	261	$1,177	36.2%	High
83	Tomar, Santarém	$140	171	$1,126	37.2%	High
84	Porto Moniz, Madeira	$140	173	$2,014	56.5%	High
85	Figueira da Foz, Coimbra	$137	333	$855	35.6%	High
86	Machico, Madeira	$137	267	$1,949	57.5%	High
87	Póvoa de Varzim, Porto	$134	205	$1,117	41.5%	High
88	Santana, Madeira	$133	151	$1,875	54.3%	High
89	Matosinhos, Porto	$130	415	$1,529	46.2%	High
90	Nazaré, Leiria	$130	1,018	$1,153	38.4%	High
91	Peniche, Leiria	$126	1,003	$1,004	39.1%	High
92	Espinho, Aveiro	$123	121	$882	35.6%	High
93	Ovar, Aveiro	$119	166	$917	38.5%	High
94	Viseu, Viseu	$119	97	$769	30.3%	High
95	Aveiro, Aveiro	$118	425	$999	38.4%	High
96	Loures, Lisbon	$113	168	$1,265	42.9%	High
97	Braga, Braga	$110	627	$955	38.0%	High
98	Bragança, Bragança	$110	113	$714	30.3%	High
99	Coimbra, Coimbra	$99	538	$958	40.8%	High
100	Amadora, Lisbon	$84	173	$997	50.9%	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 63.0% occupancy, $3,501/month revenue, and 320 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	63.0%	320	$3,501	$198	High
2	Funchal, Madeira	58.1%	2,440	$4,299	$269	High
3	Calheta, Madeira	57.8%	1,031	$3,097	$207	High
4	Santa Cruz, Madeira	55.9%	516	$3,243	$213	High
5	Lisbon, Lisbon	52.6%	12,838	$2,347	$168	High
6	Lagos, Faro	51.4%	3,510	$2,248	$203	High
7	Ponta Delgada, Azores	51.0%	1,346	$2,078	$177	High
8	Oeiras, Lisbon	49.8%	324	$1,865	$159	High
9	Porto, Porto	49.8%	8,473	$1,846	$143	High
10	Lagoa e Carvoeiro, Faro	49.8%	1,037	$2,686	$267	High
11	Olhão, Faro	49.6%	542	$1,786	$161	High
12	Vila Nova de Gaia, Porto	49.3%	1,150	$1,847	$154	High
13	Albufeira, Faro	47.1%	5,038	$2,938	$304	High
14	Vila do Bispo, Faro	46.8%	947	$1,961	$192	High
15	Matosinhos, Porto	46.2%	415	$1,529	$130	High
16	Porches, Faro	46.1%	379	$1,864	$211	High
17	Cascais, Lisbon	46.1%	1,575	$2,287	$225	High
18	Moncarapacho e Fuseta, Faro	46.0%	303	$1,577	$165	High
19	Faro, Faro	45.6%	1,117	$1,582	$155	High
20	Almada, Setúbal	45.5%	1,160	$1,796	$173	High
21	Aljezur, Faro	45.4%	1,084	$1,717	$179	High
22	Armação de Pêra, Faro	45.0%	585	$1,824	$222	High
23	Tavira, Faro	44.2%	1,488	$1,628	$184	High
24	Portimão, Faro	43.8%	2,484	$1,576	$189	High
25	Mafra, Lisbon	43.4%	856	$1,681	$183	High
26	Loulé, Faro	42.7%	2,679	$2,420	$291	High
27	Sintra, Lisbon	41.8%	1,134	$1,843	$212	High
28	Vila Real de Santo António, Faro	40.8%	424	$1,212	$163	High
29	Coimbra, Coimbra	40.8%	538	$958	$99	High
30	Sesimbra, Setúbal	40.7%	784	$1,582	$197	High
31	Esposende, Braga	39.5%	329	$1,240	$187	High
32	Alcobaça, Leiria	39.1%	451	$1,052	$152	High
33	Peniche, Leiria	39.1%	1,003	$1,004	$126	High
34	Caldas da Rainha, Leiria	39.0%	335	$1,422	$190	High
35	Aveiro, Aveiro	38.4%	425	$999	$118	High
36	Nazaré, Leiria	38.4%	1,018	$1,153	$130	High
37	Odemira, Beja	38.3%	709	$1,133	$144	High
38	Setúbal, Setúbal	38.0%	620	$1,338	$181	High
39	Braga, Braga	38.0%	627	$955	$110	High
40	Viana do Castelo, Viana do Castelo	36.6%	522	$1,494	$206	High
41	Figueira da Foz, Coimbra	35.6%	333	$855	$137	High
42	Grândola, Setúbal	34.9%	315	$2,737	$446	High
43	Óbidos, Leiria	34.7%	399	$1,413	$225	High
44	Caminha, Viana do Castelo	34.1%	357	$984	$199	High
45	Ponte de Lima, Viana do Castelo	30.7%	345	$1,114	$216	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 12,838 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 $4,299. 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 63.0%. 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?

Grândola, Setúbal commands the highest average daily rate at $446 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 42.3% occupancy, and the top performer posts $4,299 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 42.3%. 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 270 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 2026-04-09. Revenue figures are market averages, not projections. For full methodology, see the data methodology page.

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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