Lisbon and Porto with 4,700 Fewer Short-Term Rental Flats

According to a report published by Confidencial Imobiliário (CI) last week, the fourth quarter of 2020 saw a marked drop in the number of active short-term letting flats.

CI’s index, the SIR-Local Lodging, tracks the number of studios and one-bedroom flats registered with the municipality as local lodgings, are listed on the online reservation platforms, and are in regular use.

According to the analysis, the number of active studios and one-bedroom flats in the short-term letting market fell significantly in Lisbon and Porto in the fourth quarter of 2020. In specific terms, 4,690 fewer flats were operating in both cities compared to last year.

In Porto, 1,590 flats were withdrawn from the letting market, while the drop was even more significant in Lisbon: 3,100.

In Porto, there are currently 2,550 studios and one-bedroom flats actively operating in the short-term letting market, compared to 4,140 last year. More than 70% of the apartments that dropped out of the market in Porto are located in the Historic Centre Parish Union. The parish currently has approximately 2,110 active flats, 1,150 less than the 3,265 operating in the fourth quarter of 2019. 

The nation’s capital, meanwhile, currently has a supply of around 2,750 active flats in the Local Accommodation market compared to approximately 5,850 last year. Most of the apartments that dropped out of the market are in Santa Maria Maior and Misericórdia. In the parish of Santa Maria Maior, between the two periods, there are approximately 770 fewer flats on the market for a current supply of about 1,000 units. In Misericórdia, there are currently 620 active flats, compared to 1,250 last year.