Updated: August 14, 2026
Lisbon is one of Europe’s best tourist destinations. However, tapping into the profitable short-term rental market can be very difficult for a foreign investor.
Serviced apartments in Lisbon are apartment-style units with hotel-style services. They are one of the most sought-after short-term rental properties.
Since the Portuguese capital has strict licensing freezes (Alojamento Local – AL) and containment zones, properties that hold a legal status often have high average daily rates (ADR) and occupancy rates.
So, how can you turn your property into a short-term let and benefit from the high rental yields? In this guide to Lisbon Serviced Apartments, we will show you exactly what it takes to turn your property into another source of income.
Serviced Apartments in Lisbon: Key Takeaways
- Lisbon serviced apartments are popular rental units for digital nomads, families, pre-relocation visitors, and remote-working professionals.
- The best serviced apartments in Lisbon are often those professionally managed, in trendy neighborhoods, and with high-quality standards.
- The average Lisbon Airbnb earns €2,070 per month, while in the top 10% of best-in-class properties, monthly income can reach €4,951+.
- The classification thresholds for AL rentals in Lisbon are: Absolute Containment (10% or over), Relative Containment (5%-10%), and City-Wide (10%).
Lisbon’s Short-Term Rental Market
Portugal welcomed 34.8 million guests and 89.7 million overnight stays in 2025, which signals a steady demand for short-term lets, especially vacation properties. The short-term rental market in Lisbon sits at the very top of this demand.
As a capital city with a growing startup and technology market, year-round appeal, an international airport, and a strong cultural history, there are very few places that attract as many visitors willing to pay more for quality accommodations.
This is particularly important in Lisbon’s luxury real estate market, where strategically located and professionally managed properties continue to outperform.
Lisbon Serviced Apartments and AL (Alojamento Local) Licensing
The Portuguese authorities have introduced new Alojamento Local (AL) restrictions in Lisbon. These measures are classified in Containment Zones and are meant to ease the long-term housing shortages.
If you own or buy property in Portugal and decide to rent it out for stays under 30 days, you need an Alojamento Local (AL) registration. This is Portugal’s license system for short-term tourist accommodations.
Containment Zone | New AL Limit | What it means | Examples |
Absolute Containment | 10% or more | Areas where new AL registrations are no longer permitted or subject to limited exceptions. The previous threshold was 20%. | Santa Maria Maior, Misericórdia, Santo António, São Vicente, Arroios, Estrela |
Relative Containment | 5%–10% | New AL licenses are exceptionally difficult to obtain and require a strict municipal evaluation with specific conditions. | Parts of Avenidas Novas, among other areas |
City-Wide | 10% city-wide | If the total proportion of AL units across all of Lisbon municipality reaches 10%, the entire municipality is automatically classified as an Absolute Containment Zone. | All of Lisbon |
From Fragmented Rentals to Managed Developments
The Lisbon real estate market for short-term rentals hasn’t become less attractive, although the AL regulations are strict. Instead, it is more selective. Serviced properties managed by licensed professionals often perform better than those managed by an individual owner.
Professionally managed service apartments can offer:
- On-site concierge services in Portugal
- Housekeeping
- Wellness facilities and shared amenities (such as a spa, gym, or sauna)
- Consistent service across every unit
In many cases, the average guest tends to pay more for a professionally managed rental unit. So, if your Lisbon apartment provides hotel-like services, you could enjoy higher achievable rates and stronger occupancy. This higher income can come without the day-to-day management that comes with a self-run rental.
Read our ultimate guide to buying property in Lisbon by local experts
How much can you earn on Airbnb in Lisbon, Portugal?
The average Lisbon Airbnb earns $24,851 (€21,523) a year based on AirROI’s 2026 data compiled from August 2025 to July 2026. In other words, the average nightly rate is $171 (€148) with 47.8% occupancy and a RevPAR (Revenue Per Available Room) of $84 (€73).
As of August 2026, Lisbon is a large and active market with 13,896 listings, supply up 15.7% year-over-year, and climbing nightly rates.
That growth means more competition for a serviced apartment in Lisbon, but it also means well-positioned listings have real room to outperform the average. Since AL regulations are very strict, 95% of active listings are properly registered.
Here are the average monthly earnings by performance tier:
Tier | Monthly income | Property type |
Top 10% | $5,716+ (€4,951+) | Best-in-class properties with dynamic pricing and high-quality guest experience |
Top 25% | $3,657+ (€3,167+) | Strong performing properties with effective management, desirable amenities, and in popular locations |
Median | $2,248 (€1,947) | A typical property that represents the average market performance |
Bottom 25% | $1,120 (€970) | Entry-level properties, often self-managed with room for optimization |
Source: AirROI’s 2026 metrics (August 2025 – July 2026)
Tip: In Lisbon, the lowest-revenue month is January, while September is a peak revenue month for short-term lets.
The Best Areas in Lisbon for Serviced Apartments
Every Lisbon neighborhood has a different occupancy rate, guest demand, and long-term value. Here are the top spots that can perform well for serviced apartments.
Avenida da Liberdade
Avenida da LiberdadeLisbon’s grand central boulevard, Avenida da Liberdade, is the most prized location for luxury shopping in Portugal. Packed with five-star hotels, charming shops, and emblematic venues, it connects tourists, visitors, and residents to Baixa and the rest of the historic center.
Some guests prefer serviced apartments in fully dedicated buildings, with a large living space, equipped kitchen, superior comfort, and concierge services. However, containment rules here are among the tightest in the city, making existing licensed stock especially valuable.
Príncipe Real
For many investors, the best luxury apartments in Lisbon are often in Príncipe Real. This is Lisbon’s most trendy neighborhood, known for boutique shopping, 19th-century palaces, chic restaurants, and the iconic garden.
Príncipe Real often attracts higher-spending, design-conscious guests. This is the kind of profile that supports premium nightly rates for luxury serviced apartments in Lisbon, Portugal.
Campo de Ourique
Campo de Ourique has beautiful views, a covered market, and a peaceful vibe. It stands out for its residential, village-like atmosphere, making it a favorite among locals as much as visitors.
The average guest seeking a serviced apartment in Campo de Ourique often prefers longer stays. They may like a quieter neighborhood with many good eateries, wine bars, and traditional pastry shops.
Santos
Santos is a historic riverside neighborhood with a bohemian vibe that often attracts youth. It is close to the LX Factory, and it is teeming with creative schools, art galleries, and lively bars.
The average guest seeking a serviced apartment in Santos often favors riverside walks along the Tejo River, vibrant nightlife, and historic charm.
Many guests gravitate toward furnished apartments with clean interiors, often those with a complete kitchenette with a microwave, coffee machine, kettle, toaster, and an oven.
Goldcrest: How We Can Help You
Goldcrest's highly qualified lettings team is focused on finding the perfect rental property for you, based on your exact requirements, whether for lifestyle aspirations or in finding a property to rent as part of the residency process.
Why choose Goldcrest for rental services?
Our local in-house property team at Goldcrest has over 25 years of combined experience in securing the best possible deal for international clients. If you are looking to rent property in Portugal, don’t hesitate to get in touch.
- Local knowledge: With offices across Portugal, our presence nationwide allows us to assist you personally across the country.
- Personalized property experience: Your vision, with our strategy to get there. We focus solely on your individual needs and goals to secure your ideal rental match.
- Independent service: Our service is tailored toward each individual client, providing everything you need to secure the perfect rental at the most favorable terms.
- Avoid costly mistakes: Make informed decisions with our in-depth insights so you can rent with confidence and avoid costly errors.
- End-to-end support: Save time and hassle. Uncover the property you truly want with minimal fuss and at the best terms, with assistance throughout the process, making your move to Portugal seamless.
- Transparency & privacy: We promise full transparency with clear, upfront interactions and no hidden fees.
Frequently Asked Questions about Lisbon Serviced Apartments
What is a serviced apartment in Lisbon?
A serviced apartment in Lisbon is a fully furnished rental unit with hotel-style amenities. They often have a fully equipped kitchen, living area, housekeeping, guest services, utilities, and Wi-Fi. Many serviced apartments come with a private gym, laundry, and other hotel services.
Can a serviced apartment in Lisbon operate as a tourist accommodation?
Yes, a serviced apartment in Lisbon can legally operate as a tourist accommodation, depending on its legal structure. They can operate either as tourist apartments (apartamentos turísticos) under the Tourism Establishment regime (RJET) regime or vacation rentals under the Alojamento Local (AL) regime.
Is the AL license transferable in Lisbon?
Yes, AL licenses are transferable under Decree-Law n.º 76/2024. They do not automatically expire after the property is sold or changes ownership. However, Lisbon and Porto have stricter containment zones and urban planning policies, which can affect the way properties are bought, sold, or re-registered in saturated districts.
