Rental nights at Portofino Island Resort have soared from 67,000 nights in 2011, to over 111,000 nights in 2022. That 66% increase represents an incredible investment opportunity.
In addition to overall rental occupancy rising, average daily rates have steadily risen for both two and three bedroom tower residences, further emphasizing the growing potential for Portofino owners. 2022 had an increase of 2.84% in room revenue compared to the previous year.
The lack of supply on Pensacola Beach is due to the DCA (department of community affairs) putting a limit on the number of dwelling units allowed on our barrier island. Besides the remaining units that can be built at Portofino (234) there will not be any additional dwelling units built on Pensacola Beach. Due to strict zoning laws, no single-family dwelling can be changed into additional dwelling units. By putting a ceiling on supply this should forever help protect our property values.
2022 was a record breaking year on Pensacola Beach. Portofino saw high demand with less than 1% available inventory (5-10 units out of 765) on the market. This shows the demand is at an all-time high, causing values to appreciate quickly.
Portofino Island Resort is a true world class beach to bay experience unlike any other. The Portofino Lifestyle is a perfect balance of health, fitness, relaxation, recreation, and adventure which is why more people are choosing Portofino than ever before.