Prices in senior residences in Portugal have been increasing, with monthly averages between 1,315 euros and 1,675 euros, mainly due to a lack of supply, according to a study released.

The 3rd Portrait of Senior Residences in Portugal, carried out by the platform Via Sénior and by the BA&N Research Unit, concluded that “demand pressure is reflected in the generalised increase in prices, with more than 25% of residences reporting increases of more than 5%”.

According to a statement, which reports on the study's conclusions, “in December 2024, only 11% of senior residences in Portugal had vacancies available to receive new users”, indicating that 100% occupancy rates extend “to more than 67% of existing units in Portugal”.

According to the study, which aims to paint a picture of the sector, which covers 2,700 infrastructures representing more than 105 thousand beds, “the number of beds in senior residences in Portugal is far below the needs of the country”.

Adding, “in December 2024 around 70% of institutions had occupancy rates of 100%, 22.2% had occupancy rates between 91% and 99% and only 11.1% reported vacancies, with the majority of occupancy being around 80%”, they indicate.

“Considering that there are approximately 2.5 million residents in Portugal over the age of 65, coverage is just over 4%, rising to 8.7% if we consider the elderly population over 75 years old”, they say.

According to the study, “demand pressure is reflected in a generalised increase in prices, with more than 25% of residences reporting increases of more than 5%”, with “the weighted average price of accommodation in a single room being around 1,675 euros, while a double room costs 1,375 euros and a triple room 1,315 euros”.

According to the same statement, “Being unable to respond to the increase in demand due to demographic changes and increasing average life expectancy, the sector continues to be under strong pressure with accommodation prices also reflecting investments associated with improving services provided to the elderly”.

The study recalled that “the European population continues to age at an accelerated rate”, highlighting that, according to Eurostat data in January 2025, more than a fifth of the European population (21.6%) were aged 65 or over and Portugal ranks third in the European Union ranking in terms of the proportion of people over 80, only behind Italy and Germany.

The Portrait of Senior Residences in Portugal was carried out through an online survey between 1 December 2024 and 15 January 2025.