Before you turn a property into a tourist accommodation, it is important to understand how profitable it can be, even in the low-season months. After a Summer which has exceeded, in profits, the numbers reached in 2019, we can say that tourism is definitely back! But is the profitability of a tourist accommodation during Autumn and Winter high?
Get to know LovelyStay’s profitability expectations for tourist accommodations in Porto and Lisbon during the months of October 2022 to March 2023.
Lisbon:
The expected average monthly profitability during Autumn and Winter of a T0 is 2.220€, of a T1 3.440€, a T2 4.850€ and a T3 5.780€.
Porto:
In the city of Porto, the expectation is that a T0 has an average monthly profitability of about 1.750€, a T1 2.560€, a T2 3.550€ and a T3 4.190€.
It is important to mention that these are average values obtained through a market-based company study on LovelyStay’s properties, and the expectations for tourism.
Of course, everything depends on the property’s localisation, decoration, infrastructure, number of bedrooms, number of bathrooms and every detail we have spoken about before, which make a difference and can certainly make a property stand out in the market.
If you want to get to know how decoration can influence the profitability of tourist accommodation, read the text we have written for our blog. The complete post is on this link!
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LovelyStay’s Results: Profitability of a Tourist Accommodation during Summer
During June, July and August, a T0 apartment had an average monthly profitability of 2.780 euros in Lisbon, 2.338 euros in Porto and 2.428 euros in the Algarve. A one-bedroom apartment (T1) made an average of 4.307€ in Lisbon, 3.417€ in Porto and 3.131€ in the Algarve.
As for a T2 property, the average monthly profitability during the Summer months was 6.479 euros in Lisbon, 5.067 euros in Porto and 4.485 euros in the Algarve. In line with the average evolution of prices, the profitability of a three-bedroom property was 8.246€ in Lisbon. 6.465€ in Porto and 6.621€ in the Algarve.
If you want to know the secret for our success, talk to our team via e-mail: sales@lovelystay.com
Translated by Joana Teixeira
