Rental prices surge upwards in Lisbon
Renting a house in Portugal is getting more expensive, thanks to the rental price growth by 0.7% in February 2022 compared to the previous month.
According to the Idealista price index, house rentals witnessed a rise of 1.8% with costs of €10.9 per square meter (euros/m2) at the end of February, taking into account the median value.
Which are the most expensive regions to rent a house?
The Lisbon Metropolitan Area, with 12.6 euros/m2, continues to be the most expensive region for residential rentals, followed by the Algarve (9.8 euros/m2), the North (9.4 euros/m2) and the Autonomous Region from Madeira (9.2 euros/m2).
In terms of ranking, the most expensive districts to rent a house is led by Lisbon (13 euros/m2)
The cheapest regions to rent a house.
Conversely, Central Portugal was the cheapest region to rent a house with prices ranging from €6.6 per square meter, followed by Alentejo (€7.1 /m2) and the Autonomous Region of the Azores (€7.2/m2).
During the month of February, three regions in the country witnessed a rental price decline. Leading the decline is the Algarve (-1.5%), followed by Alentejo (-1.1%) and the Autonomous Region of Madeira (-0.4%). On the other hand, prices rose in the Autonomous Region of the Azores (1.6%), Lisbon Metropolitan Area (1.4%), Centre (1.1%) and North (0.5%).
Renting a house is more expensive in 9 district capitals
The country’s capital Lisbon continues to be the most expensive city in Portugal to rent a house: €13.8 /m2. Lisbon is followed in quick succession by the industrial city of Porto (€11 /m2) and Funchal (€9.8 /m2) respectively.
On the other hand, the cheapest cities to rent a house is Castelo Branco (€5/m2), Santarém (€5.3/m2), Viseu (€5.3/m2), Viana do Castelo (€5.9/m2) and Leiria (€6/m2).
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. SSIL does not guarantee the accuracy, legality, completeness, reliability of the information and or for that of subsequent links and shall not be held responsible for any action taken based on the published information.