Lisbon, March 18, 2025 (Lusa) - Prices at old people's care homes in Portugal have been rising, with monthly averages between €1,315 and €1,675, mainly due to a lack of supply, according to a study released on Tuesday.
The 3rd Portrait of Senior Residences in Portugal, carried out by Via Sénior and BA&N Research Unit, concluded that "the pressure of demand is reflected in a 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 people", indicating that occupancy rates of 100% extend "to more than 67% of existing residential care homes in Portugal".
According to the study, which aims to paint a picture of the sector, which covers 2,700 facilities representing more than 105,000 beds, "the number of beds in senior residences in Portugal is far below the requirements", and "in December 2024 around 70% of the institutions had occupancy rates of 100%, 22.2% had occupancy rates between 91% and 99% and only 11.1% reported vacancies, with occupancy generally standing at 80%", it indicated.
"Considering the 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," they point out.
According to the study, "the pressure of demand is reflected in a generalised increase in prices, with more than 25% of residences reporting rises of more than 5%', with "the weighted average price of accommodation in a single room being around €1,675, while a double room costs €1,375 and a triple €1,315".
According to the same press release, "unable to respond to the increase in demand due to demographic evolution and growing average life expectancy, the sector continues to be under strong pressure with accommodation costs also reflecting the investments associated with improving the services provided to the elderly".
The study recalled that "the European population continues to age at a rapid pace", pointing out that, according to Eurostat data in January 2025, more than a fifth of the European population (21.6 %) would be aged 65 or over and Portugal ranks third in the European Union in terms of the proportion of people aged over 80, only behind Italy and Germany.
The Portrait of Senior Residences in Portugal was carried out through an online inquiry, and this year the universe is represented by around 2,700 Senior Residences which, overall, account for more than 105,000 beds. It was carried out between 1 December 2024 and 15 January 2025.
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