The crisis caused by the Covid-19 pandemic hit the hotel sector in such a way that in October there were 166 hotels for sale between mainland Portugal and the autonomous regions, according to data revealed by a study by ‘Idealista ‘this Tuesday, December 15th.
These 166 hotels represent an increase of 4% compared to March (160), when the state of emergency was declared. The region of the country that concentrates the greatest supply is the center (53), the equivalent of a 15% increase in March (46).
This is followed by the northern zone (37), which represented a decrease of 21%, when compared to March (47) and the Algarve (29), an increase of 16%, compared to the 25 that occurred in March. In turn, the city of Lisbon fell by 19%, from 21 hotels in March to 17 in October.
However, it was the autonomous region of Madeira that saw hotel sales rise by 100%, from the five units in March to ten in October. The autonomous region of the Azores saw an increase of 33%, with four hotels for sale in October, compared to the three in March.
Looking at the prices of hotel units, the most expensive is located at Praia da Oura, in Albufeira, in the district of Faro, for a value of 36 million euros. Also in the Albufeira area, in Olhos de Água, is the second most expensive hotel in this ranking, for 20 million euros. The top 3 is closed with the hotel located in the city of Lamego, in the district of Viseu, which is for sale for 14 million euros.
Looking at the main cities of the country, in Lisbon the hotel unit for sale above 10 million euros is located in Praça de Espanha, for 12.5 million euros, while in Porto, there is a four star unit in Vila Nova de Gaia that can be purchased for 14 million euros.
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