One fifth of house rents in Portugal exceed €1000
There are more rented houses (22.3 percent) than there were in the last decade. (19.9 percent). According to the 2021 Census, this 16 percent increase in the number of rented accommodation goes parallel with a decrease in the number of owners living in their homes which equates to 70 percent as compared to 73.2 percent in 2011.
According to the published Provisional Results of the 2021 Census, the Metropolitan Area of Lisbon stands out for being the territory where the leasing regime is most significant, with 29.2 percent of accommodation occupied by tenants. The Algarve follows with 23 percent of rented family accommodation and the North with 22.2 percent.
Of the families that rent a house, 40.4 percent pay rent ranging from 650 euros to 999.99 euros. There is equivalent to a fifth of the population (21 percent) paying more than a thousand euros for rent as compared to 12.5 percent of the population paying less than 100 euros a month.
Forty percent of the population that rents a house pays a monthly rent between €650 and €999.
According to the Portuguese weekly Expresso, as for the number of buildings intended for housing, the provisional results of the 2021 Census indicate that there are now 3,573,416 buildings (an increase of 0.8 percent) and 5,981,485 dwellings (an increase of 1.7 percent).
At the end of November, renting a house in Portugal cost 12.5 euros per square meter (euros/m2) in median terms, 2.9 percent higher than last month, according to the idealista price index. In relation to the quarterly variation, the increase was 7.9 percent.
In November, house rents jumped by 13.1 percent in Aveiro, 7.5 percent in Santarém, and 7.4 percent in the northern business district of Porto. Houses for rent also became more expensive in Lisbon (3.4 percent), Braga (3.1 percent), Leiria (2.4 percent), and Setúbal (0.8 percent).
But there were also district capitals where there was a decrease in house rents, as was the case in Viana do Castelo (-4.7 percent), Funchal (-3.8 percent), and Faro (-2.0 percent). In Coimbra, the price of houses for rent remained stable between October and November.
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