Combining the comforts of a Home with Hotel-like amenities, serviced apartments are becoming the go-to solution for travelers, investors, digital nomads and modern residents.

What is serviced living?

Serviced living, also known as serviced apartments or residential service living, refers to fully furnished accommodations designed for flexibility. These spaces are ideal for short-term, long-term, or even full-time living.

They combine the comfort of a home—complete with kitchens, living areas, and bedrooms—with hotel-like conveniences such as housekeeping, concierge services, gyms, swimming pools, restaurants, and co-working spaces. This versatility makes serviced living an appealing choice for a variety of lifestyles, from frequent travelers to those seeking a permanent residence with added convenience.

Credits: Supplied Image; Author: Client;

Global Trends: A Market on the Rise

The serviced living market has seen significant global growth, driven by urbanization, evolving lifestyles, and the demand for flexible accommodation:


📈 In 2021, European serviced apartment transactions hit €496.6 million, with the UK leading at 47% of the activity.


💰 The global serviced apartment market was valued at USD 112.4 billion in 2023 and is projected to grow at a CAGR of 12.7% from 2024 to 2030.

Why the Boom?

  • Resilience: The pandemic highlighted the value of self-contained, extended-stay accommodations.
  • Remote Work: Digital nomads are increasingly drawn to serviced apartments for their home-like amenities and flexible terms.

Why Serviced Living Makes Sense

The primary advantages of serviced living include:

✅ Flexibility: Options for short- and long-term stays without the commitments associated with traditional leases.

✅ Comfort and Convenience: Provision of home-like amenities such as fully equipped kitchens, separate living areas, and access to services like gym, restaurants, swimming pools and housekeeping.

✅ Privacy and Security: Private units offer greater privacy and features such as concierge offer a secure living environment.

✅ Cost-Effectiveness: Often more economical than hotels, especially for extended stays, due to lower rates and the ability to self-cater.

Portugal: A Growing Hub for Serviced Living

Portugal has embraced the serviced living trend, particularly in cities like Lisbon, Porto, and the scenic coastal areas. The country’s combination of safety, affordability, and exceptional quality of life has made it a magnet for expatriates, investors, and tourists. This influx has spurred the development of serviced apartments to meet the diverse needs of new residents and visitors.

🌟 Key Stats:

  • Over the past decade, the number of foreigners living in Portugal has increased by 40%, surpassing half a million residents and accounting for 5.4% of the population.
  • This surge in demand has led to a boom in serviced living options, tailored to the needs of both new residents and visitors.

“The serviced living market in Portugal is poised for continued growth, aligning with global trends favoring flexible and adaptable living arrangements. The country's strategic location, favorable climate, and quality of life make Serviced and Flex Living an attractive sector to invest in”, Rob Hann, Head of Development at EQTY Capital.

The Bottom Line

Portugal aligns perfectly with the serviced living model due to its unique appeal. The country's rich cultural heritage, scenic landscapes, and pleasant climate attract a steady flow of tourists seeking flexible accommodations. A growing expatriate community, drawn by Portugal’s quality of life and favorable residency programs, further boosts demand for serviced apartments.

Serviced living is more than a trend—it’s the future of modern accommodation. In Portugal, this sector reflects global growth patterns while leveraging the country’s strategic advantages, creating exciting opportunities for both investors and residents.

HOW TO KEEP IN TOUCH:

E-mail

hello@eqtycapital.com

Follow us on Social media

LinkedIn EQTY Capital

www.eqtycapital.com

For more detailed insights and updates about Portugal and the Investment landscape, subscribe to our LinkedIn newsletter HERE.