House prices for rent in Portugal rose 0.9% in July
House prices arrive in Portugal showing a rise of 0.9% in July compared to the previous one. According to the idealista price index, renting a house had a cost of 11.4 euros per square meter (euros/m2) at the end of July, taking into account the median value. In relation to the quarterly report, the increase was 3% and annual 4.2%. In Viana do Castelo prices increased by 12.1%, the highest rise in the country.
Rental prices in July rose in eight district capitals, with Viana do Castelo (12.1%) leading the list. They are followed by Faro (7.1%), Funchal (5.8%), Coimbra (3%), Lisbon (2.9%), Setúbal (2.1%), Aveiro (1.7%) and Porto. (1.2%). In Castelo Branco, prices remain stable during the month of July.
On the other hand, prices fell in Viseu (-6.7%), Leiria (-4.5%) and Braga (-1.7%).
Lisbon continues to be the city where it is most expensive to rent a house: 14.9 euros/m2. Porto (11.5 euros/m2) and Funchal (11 euros/m2) occupy the second and third places, respectively. Next are Faro (9.7 euros/m2), Setúbal (8.8 euros/m2), Aveiro (8.6 euros/m2), Coimbra (7.5 euros/m2) and Viana do Castelo (6.8 euros/m2).
The most economical cities are Viseu (5.3 euros/m2), Castelo Branco (5.4 euros/m2), Leiria (6.3 euros/m2) and Braga (6.6 euros/m2).
Of the analyzed districts, the prices of houses for rent only dropped in Leiria (-0.4%) and Viseu (-0.3%). In Porto, prices remain stable during the month of July.
On the other hand, prices rose in Vila Real (15.5%), Viana do Castelo (15.2%), Castelo Branco (5.5%), Madeira Island (5%), Coimbra (4.3% ) ), Setúbal (2.7%), Santarém (2.6%), Braga (2.3%), Lisbon (1.6%), Aveiro (1.5%) and Faro (1.4%) .
It should be noted that the most expensive districts are in the ranking of districts to rent a house, 8 euros/m2 on the island, followed by Faro (117 euros/m2), Porto (10, euros/m2) (10.1 euros/m2), Setúbal (9.5 euros/m2), Viana do Castelo (7.7 euros/m2), Coimbra (7.3 euros/m2) and Aveiro (7.1 euros/m2) . Next comes Leiria (7.1 euros/m2), Braga (6.9 euros/m2) and Santarém (6 euros/m2).
The cheapest prices are found in Vila Real (4.9 euros/m2), Viseu (5.1 euros/m2) and Castelo Branco (5.9 euros/m2).
During the month of July, the prices of houses for rent rose in all regions. Leading in terms of increases is the Autonomous Region of the Azores, where prices were 8.9% more expensive. Followed by the Autonomous Region of Madeira (5.1%), Center (2.1%), Lisbon Metropolitan Area (1.4%), Algarve (1.4%), Alentejo (1%) and North ( 0.3%).
The Lisbon Metropolitan Area, with 13.3 euros/m2, continues to be the most expensive region, followed by the Algarve (11.7 euros/m2), the Autonomous Region of Madeira (10.9 euros/m2) and the North (9 .3 euros/m2). On the opposite side of the table are the Center (6.8 euros/m2), the Autonomous Region of the Azores (7.3 euros/m2) and Alentejo (8.2 euros/m2), which are the cheapest regions.
idealista real estate price index
In order to carry out the idealista property price index, the prices of square meter offers built by idealista’s advertisers are analyzed. They are eliminated from the atypical and priced advertisements of market forums.
We also include the typology “unilate villas” and discard all ads that are in our database and that have been without any interaction by users for some time. The final result is based on the median of all valid ads for each market.