Increased demand justifies the rise in tariffs for accommodation on the Airbnb platform. Profitability of Portuguese real estate has jumped in 2017. The local housing is practically depleted in the cities of Lisbon and Porto for the night of the year. And prices are breaking records, according to the AirDNA platform. They increased by 76.5% in Lisbon and more than doubled (126%) in Oporto, compared to December last year. The average fare for New Year's Eve is € 113 in Lisbon and € 129 in Porto, the most expensive city in the country.
The scarce supply of accommodation for the New Year, of only 356 units in Porto and 739 in Lisbon, and the strong increase in tourist demand, due to the greater international notoriety of the national destinations, explains the price boom. And it is transversal to practically the whole country: Aveiro is with rates 108.5% above the average of the month of December last year; in the middle of the Algarve, another destination of choice for tourists, Portimão charges an additional 37%; the Guarda, with the snow in Serra da Estrela exhausting the hotels, the price of the local lodging rose 6.7% and Madeira, famous for receiving the New Year with magnificent fireworks, is 15.7% more expensive, still which with median values much lower than those practiced in Lisbon and Porto.
Read more (in portuguese): Local accommodation. Price rises 76% in Lisbon on New Year's Eve and doubles in Porto