The historical center of the city of Porto concentrates 70% of the local accommodation motivated by the growth of the tourist flow, according to a study elaborated by Predibisa, that analyzed the market of accommodation in the city 'invicta', in the slopes of university residences, hotel units and local accommodation .
According to the real estate consultant in the last six years, Porto's historic center has seen since 2012, but with a special focus on the last two years, the demand in the residential market is centered on the typologies T0 to T2, with a special focus on local housing.
Of the buildings negotiated for this type of housing, serviced apartments, a concept that combines short / medium term leasing with the provision of services, whose target audiences are leisure and business travelers, as well as students and researchers.
Last year was the one with the highest registrations in terms of local accommodation, with the historical area of the city being the most sought, pointing out the forecasts so that this year's registrations are 30% higher than those of 2017. In the other areas of Porto the figures indicate a 50% increase over the last year.
Residences for students with scarce supply
If in the local accommodation the market runs in a favorable way, the same is not true of students in higher education. In Porto the number of university students has been declining, but in contrast the number of foreign students has increased, reaching a total of 5,890 in the academic year 2016/2017, according to data from the National Institute of Statistics.
This study shows that in the private university residences, the values per room vary between 190 and 300 euros and the apartments / studios between 260 and 460 euros. On the other hand, the prices of the rooms in apartments rented by private, vary between 100 and 350 euros and the apartments for rent, between the typologies T0 and T1, have values from 370 euros.
Growing hotel sector in a sustainable way
As far as hotels are concerned, Predibisa's study shows that hotel demand has registered a positive evolution in the last two years, with the highest occupancy rates in units of five and four stars and the lowest in three-star hotels .
The five-star hotels have an average daily price of around 230 euros, and the values of some units of this type of classification are very close to those practiced in the four stars. These units have average values of 120 euros per night and are the ones that offer more hotel in the center of the city.
Rita Seixas, responsible for the Research of Predibisa, stresses that "this study aims to look more closely at the housing market in Oporto. Growth in tourism, which has leveraged local housing and hospitality, coupled with a strong increase in rehabilitation projects, as well as an increase in the number of foreign students promoting the student housing market, will certainly continue to boost port market, creating a mix increasingly attractive and diversified residential market that will attract customers and new entrants. "