Every figure on a Brixfox Portugal property page has a stored, auditable basis. This page explains that basis once, in full: what feeds each number, which costs and taxes we charge, what the licence check can and cannot tell you, and the cases where we show no number at all.
The Portugal catalogue covers four regions — the Algarve, the Lisbon coast, the Silver Coast and Madeira — and is freehold throughout. Prices are in euros, as the agencies publish them, and are asking prices, not closed sales. Where a listing's portal blurs its map pin we treat its position as approximate, and the street in the title is used only to place it more closely.
A home's projected nightly rate and occupancy come from the real Airbnb listings around it, matched by distance and bedroom count. Occupancy is measured, from each calendar changing day by day, and annualised with a seasonal curve, because a summer window read as the whole year would overstate it.
The nightly rate is an asking rate, corrected towards a booked one. Airbnb does not publish what a night actually sold for. We discount the advertised rate by a factor measured against booked data, and every page that shows the rate says how it was adjusted.
The yield's denominator is the price plus every one-time cost, itemised and stored per listing:
Revenue is reduced by an itemised operating stack, stored per listing so the property page renders exactly what that home was priced on. Lines that scale with revenue: full-service management (22% of gross), booking channel fees (4%, charged whoever manages) and cleaning above the guest-paid fee (5%). Lines that do not: utilities, the IMI property tax (0.3% of a taxable value set at 70% of the price), a 0.5% maintenance reserve, insurance, the condominium fee on an apartment, and AL bookkeeping in the managed scenario.
The tax is 8.75% of gross revenue, owed whatever the profit. A non-resident letting under the Alojamento Local simplified regime is taxed on a deemed 35% of gross at the 25% flat rate. Because the base is gross, a loss-making year still owes it, and our model charges it that way in both scenarios. In a containment area, where the deemed share is 50%, the tax is higher than our figure.
The headline net is fully managed, after tax, on the all-in cost. The self-managed figure drops the management commission and the bookkeeping, and keeps the channel fee and the tax. Where a home's stored pieces no longer agree with each other — usually a price that moved since the last scoring pass — the page keeps the earlier model rather than show an itemised list that cannot reach the headline above it.
Short-term letting in Portugal needs an Alojamento Local (AL) registration. We read Turismo de Portugal's RNAL open register and match listings against it. Each listing carries one of four statements:
Madeira is not covered. The island keeps its own regional register, which the RNAL dataset does not include, so a Madeira listing's licence cannot be checked either way — the page says exactly that, never "no licence".
A licence on record means a registration exists; whether it transfers with the sale, and whether the municipality allows new registrations, is a question for a Portuguese lawyer before you sign.
A projection that implies an implausible gross return on the asking price, or a net above our sanity ceiling, is withheld rather than published: the likeliest explanation is a broken input, not an extraordinary deal. A home that publishes no yield publishes no revenue and no net either, and says so in words rather than printing a zero.