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LisbonHead-to-head report

Lisbon Alfama · Barcelona Eixample · Porto Cedofeita — which one wins?

A side-by-side of live listings on yield, occupancy, regulation risk, and 5-year revenue.

HostPal verdict

The strongest play is
Lisbon Alfama

Yield 0.7pts ahead of P2. Strongest blended score across yield, RevPAN, occupancy and risk. Edges ahead of Barcelona Eixample on the blended score across yield, RevPAN, occupancy and risk.

P1 · Lisbon AlfamaGrade A-Score 100.0
Reasons to act
  • Yield 0.7pts ahead of P2
  • Strongest blended score across yield, RevPAN, occupancy and risk
Reasons to wait
  • Occupancy still has room (68%)
  • Negative leveraged cashflow (−£535/yr at 75% LTV)
  • STR rules under consultation
Next 30 days
  • Visit Lisbon Alfama & meet 2 letting agents
  • Pull 5 comparable freeholds
  • Lock STR insurance quote
Head-to-head

6 metrics, side by side

One row per metric. Bar length is proportional; the leader is called out in colour. A tied row has no leader.i

Metric
Comparison
P1 · Lisbon Alfama
P2 · Barcelona Eixample
P3 · Porto Cedofeita
Trend 12mo
Avg daily rate
GBP
P1
P2
P3
£115
£140BEST
£106
Occupancy
%
P1
P2
P3
68%
69%BEST
67%
RevPAN
GBP
P1
P2
P3
£78
£97BEST
£71
Revenue / yr
GBP
P1
P2
P3
£27.2K
£34.9KBEST
£23.8K
Gross yield
%
P1
P2
P3
7.11%
6.41%
8.24%BEST
Risk index
/100
P1
P2
P3
54
69
39BEST
Risk × Return

Which property sits where it should?

Bubble area = annual revenue. The green zone is high yield with manageable risk.i

IDEAL ZONE5%6%7%8%9%20406080100GROSS YIELD →← RISK INDEXP1 — gross yield 7.11%, risk index 54/100 (lower is better)P17.1% · risk 54P2 — gross yield 6.41%, risk index 69/100 (lower is better)P26.4% · risk 69P3 — gross yield 8.24%, risk index 39/100 (lower is better)P38.2% · risk 39
Lisbon Alfama
7.1% yield at risk 54 — mid-pack on both axes.
Barcelona Eixample
Most risk in the set (69) without the top yield (6.4%) — needs a discount to justify.
Porto Cedofeita
8.2% yield at risk 39 — inside the ideal zone.
Seasonality

Revenue per available night, by month

Hover the chart for monthly readings. RevPAN smooths price × occupancy into one figure.

£0£37£74£111£148JanFebMarAprMayJunJulAugSepOctNovDec
Lisbon Alfama
Peak Jul · £120 · Low Jan · £43
Barcelona Eixample
Peak Jul · £148 · Low Jan · £54
Porto Cedofeita
Peak Jul · £108 · Low Jan · £39
Signals

6 signals per property

A property is only as strong as its weakest signal. Look at each shape, not just the area.i

P1
Lisbon Alfama
A-
YieldDemandGrowthRegsLiquiditySupply
STRONGEST
Liquidity · 100
WEAKEST
Regs · 46
P2
Barcelona Eixample
C+
YieldDemandGrowthRegsLiquiditySupply
STRONGEST
Liquidity · 100
WEAKEST
Regs · 31
P3
Porto Cedofeita
A
YieldDemandGrowthRegsLiquiditySupply
STRONGEST
Liquidity · 100
WEAKEST
Regs · 61
Cashflow

Where each pound goes — annual breakdown

Stacked bars show mortgage and op-ex against gross revenue. Below each: the occupancy needed to break even at your financing vs where the market actually runs.i

25-yr repayment mortgage · op-ex 25% of revenue
MortgageOp-exNet cashShortfall£0K£11K£21K£32K£42KP1 — revenue £27K, mortgage £22K, op-ex £7K, shortfall −£2KREVENUE£27KP1net −£2KP2 — revenue £35K, mortgage £32K, op-ex £9K, shortfall −£5KREVENUE£35KP2net −£5KP3 — revenue £24K, mortgage £17K, op-ex £6K, net cash £1KREVENUE£24KP3net £1K
Lisbon Alfama
margin -6.5%
Shortfall −£1.8K · deposit payback — at this financing — try a bigger deposit above
Break-even 74% occ · running 68% → 6pts short
Barcelona Eixample
margin -15.5%
Shortfall −£5.4K · deposit payback — at this financing — try a bigger deposit above
Break-even 83% occ · running 69% → 14pts short
Porto Cedofeita
margin 4.6%
Net cash £1.1K · deposit payback 66.2 yrs
Break-even 63% occ · running 67% → 4pts of slack
Forecast

Five-year revenue trajectory

Illustrative trajectory: today's revenue grown at a flat 6.5%/yr assumption. Not a forecast of your property.i

P1
Lisbon Alfama
2-bed benchmark
Y0Y+5
Revenue Y1–Y5
£164.9K
Y+5 revenue
£37.3K
P2
Barcelona Eixample
2-bed benchmark
Y0Y+5
Revenue Y1–Y5
£211.3K
Y+5 revenue
£47.7K
P3
Porto Cedofeita
2-bed benchmark
Y0Y+5
Revenue Y1–Y5
£144.3K
Y+5 revenue
£32.6K
Regulation

Compliance & risk checklist

Lower colour-load on purpose — checkmarks mean the rule applies, not that it's a problem.

Rule
P1
P2
P3
90-night cap applies
N/A
N/A
N/A
Local licence / registration
Applies
Applies
Applies
Planning consent required
N/A
N/A
N/A
STR-specific insurance
Applies
Applies
Applies
Overall regulation level
Medium
High
Low
Next steps

What to actually do this month

A short, specific plan per property. Not advice — direction.

P1
Lisbon Alfama
  1. 1Lock current 5-year fixed mortgage before next rate review.
  2. 2Verify lease permits short lets without additional conditions.
  3. 3Upgrade pricing — ADR sits 85 below top-quartile comps.
P2
Barcelona Eixample
  1. 1Run STR feasibility — local enforcement risk is elevated.
  2. 2Verify lease permits short lets without additional conditions.
  3. 3Upgrade pricing — ADR sits 60 below top-quartile comps.
P3
Porto Cedofeita
  1. 1Lock current 5-year fixed mortgage before next rate review.
  2. 2Verify lease permits short lets without additional conditions.
  3. 3Move forward — fastest payback in the set.
About this sample

🇪🇺 Lisbon · Barcelona · Porto

Iberia's biggest STR markets — yield, regulation freezes, and where to actually buy.

Representative medians from 12 months of activity. All amounts shown in GBP for cross-region comparability — local-currency reports are available per market.

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