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

Source: AirROI Reviewed by Jun Zhou , Founder @ AirROI

Updated: 2026-05-04

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 12,694 active listings and $2,299/month revenue. Across all ranked markets, average occupancy is 41.7% with $1,655/month in average revenue and $187/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 12,694 active short-term rental listings and $2,299/month in average revenue.

#	Market	Active Listings (TTM)	Revenue/mo	ADR	Occupancy	Regulation
1	Lisbon, Lisbon	12,694	$2,299	$167	51.6%	High
2	Porto, Porto	8,437	$1,781	$142	48.6%	High
3	Albufeira, Faro	4,995	$2,922	$304	46.4%	High
4	Lagos, Faro	3,488	$2,219	$205	50.8%	High
5	Loulé, Faro	2,653	$2,390	$292	42.2%	High
6	Portimão, Faro	2,468	$1,546	$189	43.5%	High
7	Funchal, Madeira	2,426	$4,244	$267	57.1%	High
8	Cascais, Lisbon	1,560	$2,237	$221	45.5%	High
9	Tavira, Faro	1,478	$1,615	$184	43.8%	High
10	Ponta Delgada, Azores	1,346	$2,001	$177	49.4%	High
11	Almada, Setúbal	1,149	$1,743	$171	44.7%	High
12	Vila Nova de Gaia, Porto	1,142	$1,784	$153	48.2%	High
13	Sintra, Lisbon	1,118	$1,815	$214	41.1%	High
14	Faro, Faro	1,115	$1,559	$156	44.5%	High
15	Aljezur, Faro	1,090	$1,662	$179	44.7%	High
16	Lagoa e Carvoeiro, Faro	1,038	$2,634	$269	49.1%	High
17	Calheta, Madeira	1,028	$2,997	$206	56.6%	High
18	Nazaré, Leiria	1,012	$1,136	$130	38.1%	High
19	Peniche, Leiria	994	$989	$125	39.0%	High
20	Vila do Bispo, Faro	945	$1,938	$193	46.6%	High
21	Mafra, Lisbon	856	$1,632	$183	42.8%	High
22	Sesimbra, Setúbal	781	$1,530	$198	40.1%	High
23	Odemira, Beja	704	$1,103	$144	37.7%	High
24	Braga, Braga	624	$929	$109	37.5%	High
25	Setúbal, Setúbal	614	$1,309	$181	37.0%	High
26	Armação de Pêra, Faro	577	$1,814	$221	44.5%	High
27	Olhão, Faro	538	$1,771	$161	49.1%	High
28	Coimbra, Coimbra	534	$921	$97	40.0%	High
29	Santa Cruz, Madeira	514	$3,110	$210	54.5%	High
30	Viana do Castelo, Viana do Castelo	510	$1,496	$206	36.7%	High
31	Alcobaça, Leiria	442	$1,056	$152	39.6%	High
32	Aveiro, Aveiro	430	$950	$115	37.5%	High
33	Vila Real de Santo António, Faro	417	$1,206	$162	40.2%	High
34	Matosinhos, Porto	411	$1,488	$130	45.2%	High
35	Óbidos, Leiria	396	$1,368	$225	34.4%	High
36	Porches, Faro	375	$1,825	$209	45.5%	High
37	Caminha, Viana do Castelo	349	$978	$198	34.6%	High
38	Ponte de Lima, Viana do Castelo	343	$1,091	$215	30.6%	High
39	Caldas da Rainha, Leiria	333	$1,384	$191	39.1%	High
40	Figueira da Foz, Coimbra	328	$836	$136	35.2%	High
41	Esposende, Braga	320	$1,220	$187	39.4%	High
42	Oeiras, Lisbon	318	$1,817	$160	49.0%	High
43	Ponta do Sol, Madeira	316	$3,407	$197	61.4%	High
44	Grândola, Setúbal	314	$2,677	$445	34.6%	High
45	Moncarapacho e Fuseta, Faro	302	$1,556	$168	46.4%	High
46	Guimarães, Braga	294	$1,108	$154	36.4%	High
47	Terras de Bouro, Braga	289	$1,152	$173	31.8%	High
48	São Vicente, Madeira	281	$2,601	$177	57.0%	High
49	Santiago do Cacém, Setúbal	275	$1,407	$215	34.4%	High
50	Vila do Conde, Porto	270	$1,332	$155	40.4%	High
51	Machico, Madeira	264	$1,902	$136	56.5%	High
52	Ribeira Brava, Madeira	258	$3,594	$209	59.6%	High
53	Évora, Évora	251	$1,165	$139	36.6%	High
54	Arcos de Valdevez, Viana do Castelo	242	$1,013	$156	32.3%	High
55	Torres Vedras, Lisbon	235	$1,326	$167	36.9%	High
56	São Roque do Pico, Azores	224	$1,213	$161	40.4%	High
57	Ferragudo, Faro	220	$2,459	$268	46.0%	High
58	Lourinhã e Atalaia, Lisbon	219	$1,220	$191	36.2%	High
59	Vieira do Minho, Braga	217	$1,279	$210	37.2%	High
60	Ílhavo, Aveiro	206	$1,195	$141	38.1%	High
61	Seixal, Setúbal	204	$1,994	$214	41.4%	High
62	Póvoa de Varzim, Porto	201	$1,107	$134	41.6%	High
63	Alcantarilha e Pêra, Faro	197	$1,847	$240	43.0%	High
64	Castro Marim, Faro	193	$1,359	$198	38.6%	High
65	Povoação, Azores	185	$2,195	$188	49.1%	High
66	Vila Franca do Campo, Azores	185	$2,229	$214	51.9%	High
67	Porto Santo, Madeira	179	$2,456	$244	43.0%	High
68	Silves, Faro	176	$2,217	$240	45.8%	High
69	Leiria, Leiria	171	$861	$145	34.1%	High
70	Tomar, Santarém	170	$1,087	$139	37.1%	High
71	Palmela, Setúbal	170	$1,465	$238	34.3%	High
72	Porto Moniz, Madeira	169	$1,957	$141	54.1%	High
73	Seia, Guarda	167	$904	$166	26.8%	High
74	Amadora, Lisbon	167	$990	$84	51.0%	High
75	Loures, Lisbon	166	$1,227	$113	42.0%	High
76	Ovar, Aveiro	165	$910	$119	38.4%	High
77	Amarante, Porto	159	$1,087	$161	32.8%	High
78	Santana, Madeira	150	$1,797	$132	53.6%	High
79	Peso da Régua, Vila Real	141	$1,468	$193	32.3%	High
80	Câmara de Lobos, Madeira	139	$3,600	$244	58.9%	High
81	Madalena, Azores	138	$1,454	$153	46.0%	High
82	Estômbar e Parchal, Faro	130	$1,851	$234	42.6%	High
83	Barcelos, Braga	129	$1,219	$198	33.7%	High
84	São Brás de Alportel, Faro	128	$2,111	$282	43.5%	High
85	Reguengos de Monsaraz, Évora	126	$993	$164	30.6%	High
86	Ourém, Santarém	124	$1,129	$146	35.3%	High
87	Espinho, Aveiro	120	$858	$122	35.2%	High
88	Quelfes, Faro	118	$1,449	$199	44.3%	High
89	Gondomar, Porto	118	$1,716	$198	40.6%	High
90	Covilhã, Castelo Branco	116	$1,073	$160	30.9%	High
91	Sines, Setúbal	115	$1,625	$193	41.7%	High
92	Penafiel, Porto	114	$1,539	$223	34.7%	High
93	Comporta, Setúbal	110	$3,742	$447	39.5%	High
94	Bragança, Bragança	109	$711	$109	30.4%	High
95	Vila Real, Vila Real	104	$932	$153	31.8%	High
96	Cabeceiras de Basto, Braga	100	$1,098	$183	34.5%	High
97	Quarteira, Faro District	100	$1,988	$265	44.9%	High
98	Monchique, Faro	99	$1,422	$154	42.0%	High
99	Vila Nova de Cerveira, Viana do Castelo	97	$884	$208	30.6%	High
100	Arouca, Aveiro	95	$1,034	$180	28.0%	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 $4,244/month at $267 ADR and 57.1% 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	$4,244	2,426	$267	57.1%	High
2	Comporta, Setúbal	$3,742	110	$447	39.5%	High
3	Câmara de Lobos, Madeira	$3,600	139	$244	58.9%	High
4	Ribeira Brava, Madeira	$3,594	258	$209	59.6%	High
5	Ponta do Sol, Madeira	$3,407	316	$197	61.4%	High
6	Santa Cruz, Madeira	$3,110	514	$210	54.5%	High
7	Calheta, Madeira	$2,997	1,028	$206	56.6%	High
8	Albufeira, Faro	$2,922	4,995	$304	46.4%	High
9	Grândola, Setúbal	$2,677	314	$445	34.6%	High
10	Lagoa e Carvoeiro, Faro	$2,634	1,038	$269	49.1%	High
11	São Vicente, Madeira	$2,601	281	$177	57.0%	High
12	Ferragudo, Faro	$2,459	220	$268	46.0%	High
13	Porto Santo, Madeira	$2,456	179	$244	43.0%	High
14	Loulé, Faro	$2,390	2,653	$292	42.2%	High
15	Lisbon, Lisbon	$2,299	12,694	$167	51.6%	High
16	Cascais, Lisbon	$2,237	1,560	$221	45.5%	High
17	Vila Franca do Campo, Azores	$2,229	185	$214	51.9%	High
18	Lagos, Faro	$2,219	3,488	$205	50.8%	High
19	Silves, Faro	$2,217	176	$240	45.8%	High
20	Povoação, Azores	$2,195	185	$188	49.1%	High
21	São Brás de Alportel, Faro	$2,111	128	$282	43.5%	High
22	Ponta Delgada, Azores	$2,001	1,346	$177	49.4%	High
23	Seixal, Setúbal	$1,994	204	$214	41.4%	High
24	Quarteira, Faro District	$1,988	100	$265	44.9%	High
25	Porto Moniz, Madeira	$1,957	169	$141	54.1%	High
26	Vila do Bispo, Faro	$1,938	945	$193	46.6%	High
27	Machico, Madeira	$1,902	264	$136	56.5%	High
28	Estômbar e Parchal, Faro	$1,851	130	$234	42.6%	High
29	Alcantarilha e Pêra, Faro	$1,847	197	$240	43.0%	High
30	Porches, Faro	$1,825	375	$209	45.5%	High
31	Oeiras, Lisbon	$1,817	318	$160	49.0%	High
32	Sintra, Lisbon	$1,815	1,118	$214	41.1%	High
33	Armação de Pêra, Faro	$1,814	577	$221	44.5%	High
34	Santana, Madeira	$1,797	150	$132	53.6%	High
35	Vila Nova de Gaia, Porto	$1,784	1,142	$153	48.2%	High
36	Porto, Porto	$1,781	8,437	$142	48.6%	High
37	Olhão, Faro	$1,771	538	$161	49.1%	High
38	Almada, Setúbal	$1,743	1,149	$171	44.7%	High
39	Gondomar, Porto	$1,716	118	$198	40.6%	High
40	Aljezur, Faro	$1,662	1,090	$179	44.7%	High
41	Mafra, Lisbon	$1,632	856	$183	42.8%	High
42	Sines, Setúbal	$1,625	115	$193	41.7%	High
43	Tavira, Faro	$1,615	1,478	$184	43.8%	High
44	Faro, Faro	$1,559	1,115	$156	44.5%	High
45	Moncarapacho e Fuseta, Faro	$1,556	302	$168	46.4%	High
46	Portimão, Faro	$1,546	2,468	$189	43.5%	High
47	Penafiel, Porto	$1,539	114	$223	34.7%	High
48	Sesimbra, Setúbal	$1,530	781	$198	40.1%	High
49	Viana do Castelo, Viana do Castelo	$1,496	510	$206	36.7%	High
50	Matosinhos, Porto	$1,488	411	$130	45.2%	High
51	Peso da Régua, Vila Real	$1,468	141	$193	32.3%	High
52	Palmela, Setúbal	$1,465	170	$238	34.3%	High
53	Madalena, Azores	$1,454	138	$153	46.0%	High
54	Quelfes, Faro	$1,449	118	$199	44.3%	High
55	Monchique, Faro	$1,422	99	$154	42.0%	High
56	Santiago do Cacém, Setúbal	$1,407	275	$215	34.4%	High
57	Caldas da Rainha, Leiria	$1,384	333	$191	39.1%	High
58	Óbidos, Leiria	$1,368	396	$225	34.4%	High
59	Castro Marim, Faro	$1,359	193	$198	38.6%	High
60	Vila do Conde, Porto	$1,332	270	$155	40.4%	High
61	Torres Vedras, Lisbon	$1,326	235	$167	36.9%	High
62	Setúbal, Setúbal	$1,309	614	$181	37.0%	High
63	Vieira do Minho, Braga	$1,279	217	$210	37.2%	High
64	Loures, Lisbon	$1,227	166	$113	42.0%	High
65	Lourinhã e Atalaia, Lisbon	$1,220	219	$191	36.2%	High
66	Esposende, Braga	$1,220	320	$187	39.4%	High
67	Barcelos, Braga	$1,219	129	$198	33.7%	High
68	São Roque do Pico, Azores	$1,213	224	$161	40.4%	High
69	Vila Real de Santo António, Faro	$1,206	417	$162	40.2%	High
70	Ílhavo, Aveiro	$1,195	206	$141	38.1%	High
71	Évora, Évora	$1,165	251	$139	36.6%	High
72	Terras de Bouro, Braga	$1,152	289	$173	31.8%	High
73	Nazaré, Leiria	$1,136	1,012	$130	38.1%	High
74	Ourém, Santarém	$1,129	124	$146	35.3%	High
75	Guimarães, Braga	$1,108	294	$154	36.4%	High
76	Póvoa de Varzim, Porto	$1,107	201	$134	41.6%	High
77	Odemira, Beja	$1,103	704	$144	37.7%	High
78	Cabeceiras de Basto, Braga	$1,098	100	$183	34.5%	High
79	Ponte de Lima, Viana do Castelo	$1,091	343	$215	30.6%	High
80	Tomar, Santarém	$1,087	170	$139	37.1%	High
81	Amarante, Porto	$1,087	159	$161	32.8%	High
82	Covilhã, Castelo Branco	$1,073	116	$160	30.9%	High
83	Alcobaça, Leiria	$1,056	442	$152	39.6%	High
84	Arouca, Aveiro	$1,034	95	$180	28.0%	High
85	Arcos de Valdevez, Viana do Castelo	$1,013	242	$156	32.3%	High
86	Reguengos de Monsaraz, Évora	$993	126	$164	30.6%	High
87	Amadora, Lisbon	$990	167	$84	51.0%	High
88	Peniche, Leiria	$989	994	$125	39.0%	High
89	Caminha, Viana do Castelo	$978	349	$198	34.6%	High
90	Aveiro, Aveiro	$950	430	$115	37.5%	High
91	Vila Real, Vila Real	$932	104	$153	31.8%	High
92	Braga, Braga	$929	624	$109	37.5%	High
93	Coimbra, Coimbra	$921	534	$97	40.0%	High
94	Ovar, Aveiro	$910	165	$119	38.4%	High
95	Seia, Guarda	$904	167	$166	26.8%	High
96	Vila Nova de Cerveira, Viana do Castelo	$884	97	$208	30.6%	High
97	Leiria, Leiria	$861	171	$145	34.1%	High
98	Espinho, Aveiro	$858	120	$122	35.2%	High
99	Figueira da Foz, Coimbra	$836	328	$136	35.2%	High
100	Bragança, Bragança	$711	109	$109	30.4%	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 $447/night, generating $3,742/month at 39.5% 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	$447	110	$3,742	39.5%	High
2	Grândola, Setúbal	$445	314	$2,677	34.6%	High
3	Albufeira, Faro	$304	4,995	$2,922	46.4%	High
4	Loulé, Faro	$292	2,653	$2,390	42.2%	High
5	São Brás de Alportel, Faro	$282	128	$2,111	43.5%	High
6	Lagoa e Carvoeiro, Faro	$269	1,038	$2,634	49.1%	High
7	Ferragudo, Faro	$268	220	$2,459	46.0%	High
8	Funchal, Madeira	$267	2,426	$4,244	57.1%	High
9	Quarteira, Faro District	$265	100	$1,988	44.9%	High
10	Porto Santo, Madeira	$244	179	$2,456	43.0%	High
11	Câmara de Lobos, Madeira	$244	139	$3,600	58.9%	High
12	Silves, Faro	$240	176	$2,217	45.8%	High
13	Alcantarilha e Pêra, Faro	$240	197	$1,847	43.0%	High
14	Palmela, Setúbal	$238	170	$1,465	34.3%	High
15	Estômbar e Parchal, Faro	$234	130	$1,851	42.6%	High
16	Óbidos, Leiria	$225	396	$1,368	34.4%	High
17	Penafiel, Porto	$223	114	$1,539	34.7%	High
18	Armação de Pêra, Faro	$221	577	$1,814	44.5%	High
19	Cascais, Lisbon	$221	1,560	$2,237	45.5%	High
20	Ponte de Lima, Viana do Castelo	$215	343	$1,091	30.6%	High
21	Santiago do Cacém, Setúbal	$215	275	$1,407	34.4%	High
22	Vila Franca do Campo, Azores	$214	185	$2,229	51.9%	High
23	Seixal, Setúbal	$214	204	$1,994	41.4%	High
24	Sintra, Lisbon	$214	1,118	$1,815	41.1%	High
25	Vieira do Minho, Braga	$210	217	$1,279	37.2%	High
26	Santa Cruz, Madeira	$210	514	$3,110	54.5%	High
27	Porches, Faro	$209	375	$1,825	45.5%	High
28	Ribeira Brava, Madeira	$209	258	$3,594	59.6%	High
29	Vila Nova de Cerveira, Viana do Castelo	$208	97	$884	30.6%	High
30	Viana do Castelo, Viana do Castelo	$206	510	$1,496	36.7%	High
31	Calheta, Madeira	$206	1,028	$2,997	56.6%	High
32	Lagos, Faro	$205	3,488	$2,219	50.8%	High
33	Quelfes, Faro	$199	118	$1,449	44.3%	High
34	Barcelos, Braga	$198	129	$1,219	33.7%	High
35	Castro Marim, Faro	$198	193	$1,359	38.6%	High
36	Caminha, Viana do Castelo	$198	349	$978	34.6%	High
37	Gondomar, Porto	$198	118	$1,716	40.6%	High
38	Sesimbra, Setúbal	$198	781	$1,530	40.1%	High
39	Ponta do Sol, Madeira	$197	316	$3,407	61.4%	High
40	Peso da Régua, Vila Real	$193	141	$1,468	32.3%	High
41	Sines, Setúbal	$193	115	$1,625	41.7%	High
42	Vila do Bispo, Faro	$193	945	$1,938	46.6%	High
43	Caldas da Rainha, Leiria	$191	333	$1,384	39.1%	High
44	Lourinhã e Atalaia, Lisbon	$191	219	$1,220	36.2%	High
45	Portimão, Faro	$189	2,468	$1,546	43.5%	High
46	Povoação, Azores	$188	185	$2,195	49.1%	High
47	Esposende, Braga	$187	320	$1,220	39.4%	High
48	Tavira, Faro	$184	1,478	$1,615	43.8%	High
49	Cabeceiras de Basto, Braga	$183	100	$1,098	34.5%	High
50	Mafra, Lisbon	$183	856	$1,632	42.8%	High
51	Setúbal, Setúbal	$181	614	$1,309	37.0%	High
52	Arouca, Aveiro	$180	95	$1,034	28.0%	High
53	Aljezur, Faro	$179	1,090	$1,662	44.7%	High
54	São Vicente, Madeira	$177	281	$2,601	57.0%	High
55	Ponta Delgada, Azores	$177	1,346	$2,001	49.4%	High
56	Terras de Bouro, Braga	$173	289	$1,152	31.8%	High
57	Almada, Setúbal	$171	1,149	$1,743	44.7%	High
58	Moncarapacho e Fuseta, Faro	$168	302	$1,556	46.4%	High
59	Lisbon, Lisbon	$167	12,694	$2,299	51.6%	High
60	Torres Vedras, Lisbon	$167	235	$1,326	36.9%	High
61	Seia, Guarda	$166	167	$904	26.8%	High
62	Reguengos de Monsaraz, Évora	$164	126	$993	30.6%	High
63	Vila Real de Santo António, Faro	$162	417	$1,206	40.2%	High
64	Amarante, Porto	$161	159	$1,087	32.8%	High
65	São Roque do Pico, Azores	$161	224	$1,213	40.4%	High
66	Olhão, Faro	$161	538	$1,771	49.1%	High
67	Oeiras, Lisbon	$160	318	$1,817	49.0%	High
68	Covilhã, Castelo Branco	$160	116	$1,073	30.9%	High
69	Faro, Faro	$156	1,115	$1,559	44.5%	High
70	Arcos de Valdevez, Viana do Castelo	$156	242	$1,013	32.3%	High
71	Vila do Conde, Porto	$155	270	$1,332	40.4%	High
72	Guimarães, Braga	$154	294	$1,108	36.4%	High
73	Monchique, Faro	$154	99	$1,422	42.0%	High
74	Vila Nova de Gaia, Porto	$153	1,142	$1,784	48.2%	High
75	Vila Real, Vila Real	$153	104	$932	31.8%	High
76	Madalena, Azores	$153	138	$1,454	46.0%	High
77	Alcobaça, Leiria	$152	442	$1,056	39.6%	High
78	Ourém, Santarém	$146	124	$1,129	35.3%	High
79	Leiria, Leiria	$145	171	$861	34.1%	High
80	Odemira, Beja	$144	704	$1,103	37.7%	High
81	Porto, Porto	$142	8,437	$1,781	48.6%	High
82	Ílhavo, Aveiro	$141	206	$1,195	38.1%	High
83	Porto Moniz, Madeira	$141	169	$1,957	54.1%	High
84	Évora, Évora	$139	251	$1,165	36.6%	High
85	Tomar, Santarém	$139	170	$1,087	37.1%	High
86	Figueira da Foz, Coimbra	$136	328	$836	35.2%	High
87	Machico, Madeira	$136	264	$1,902	56.5%	High
88	Póvoa de Varzim, Porto	$134	201	$1,107	41.6%	High
89	Santana, Madeira	$132	150	$1,797	53.6%	High
90	Nazaré, Leiria	$130	1,012	$1,136	38.1%	High
91	Matosinhos, Porto	$130	411	$1,488	45.2%	High
92	Peniche, Leiria	$125	994	$989	39.0%	High
93	Espinho, Aveiro	$122	120	$858	35.2%	High
94	Ovar, Aveiro	$119	165	$910	38.4%	High
95	Aveiro, Aveiro	$115	430	$950	37.5%	High
96	Loures, Lisbon	$113	166	$1,227	42.0%	High
97	Bragança, Bragança	$109	109	$711	30.4%	High
98	Braga, Braga	$109	624	$929	37.5%	High
99	Coimbra, Coimbra	$97	534	$921	40.0%	High
100	Amadora, Lisbon	$84	167	$990	51.0%	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 61.4% occupancy, $3,407/month revenue, and 316 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	61.4%	316	$3,407	$197	High
2	Funchal, Madeira	57.1%	2,426	$4,244	$267	High
3	Calheta, Madeira	56.6%	1,028	$2,997	$206	High
4	Santa Cruz, Madeira	54.5%	514	$3,110	$210	High
5	Lisbon, Lisbon	51.6%	12,694	$2,299	$167	High
6	Lagos, Faro	50.8%	3,488	$2,219	$205	High
7	Ponta Delgada, Azores	49.4%	1,346	$2,001	$177	High
8	Olhão, Faro	49.1%	538	$1,771	$161	High
9	Lagoa e Carvoeiro, Faro	49.1%	1,038	$2,634	$269	High
10	Oeiras, Lisbon	49.0%	318	$1,817	$160	High
11	Porto, Porto	48.6%	8,437	$1,781	$142	High
12	Vila Nova de Gaia, Porto	48.2%	1,142	$1,784	$153	High
13	Vila do Bispo, Faro	46.6%	945	$1,938	$193	High
14	Albufeira, Faro	46.4%	4,995	$2,922	$304	High
15	Moncarapacho e Fuseta, Faro	46.4%	302	$1,556	$168	High
16	Cascais, Lisbon	45.5%	1,560	$2,237	$221	High
17	Porches, Faro	45.5%	375	$1,825	$209	High
18	Matosinhos, Porto	45.2%	411	$1,488	$130	High
19	Aljezur, Faro	44.7%	1,090	$1,662	$179	High
20	Almada, Setúbal	44.7%	1,149	$1,743	$171	High
21	Armação de Pêra, Faro	44.5%	577	$1,814	$221	High
22	Faro, Faro	44.5%	1,115	$1,559	$156	High
23	Tavira, Faro	43.8%	1,478	$1,615	$184	High
24	Portimão, Faro	43.5%	2,468	$1,546	$189	High
25	Mafra, Lisbon	42.8%	856	$1,632	$183	High
26	Loulé, Faro	42.2%	2,653	$2,390	$292	High
27	Sintra, Lisbon	41.1%	1,118	$1,815	$214	High
28	Vila Real de Santo António, Faro	40.2%	417	$1,206	$162	High
29	Sesimbra, Setúbal	40.1%	781	$1,530	$198	High
30	Coimbra, Coimbra	40.0%	534	$921	$97	High
31	Alcobaça, Leiria	39.6%	442	$1,056	$152	High
32	Esposende, Braga	39.4%	320	$1,220	$187	High
33	Caldas da Rainha, Leiria	39.1%	333	$1,384	$191	High
34	Peniche, Leiria	39.0%	994	$989	$125	High
35	Nazaré, Leiria	38.1%	1,012	$1,136	$130	High
36	Odemira, Beja	37.7%	704	$1,103	$144	High
37	Braga, Braga	37.5%	624	$929	$109	High
38	Aveiro, Aveiro	37.5%	430	$950	$115	High
39	Setúbal, Setúbal	37.0%	614	$1,309	$181	High
40	Viana do Castelo, Viana do Castelo	36.7%	510	$1,496	$206	High
41	Figueira da Foz, Coimbra	35.2%	328	$836	$136	High
42	Grândola, Setúbal	34.6%	314	$2,677	$445	High
43	Caminha, Viana do Castelo	34.6%	349	$978	$198	High
44	Óbidos, Leiria	34.4%	396	$1,368	$225	High
45	Ponte de Lima, Viana do Castelo	30.6%	343	$1,091	$215	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 12,694 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 $4,244. 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 61.4%. 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 $447 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 41.7% occupancy, and the top performer posts $4,244 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 41.7%. 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 2026-05-04. 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