Renting a house in Portugal is 2.9% more expensive — idealista/news
The flexibility that rental market offers continues to attract more and more families to live. In the last decade alone, the number of rented houses in portugal increased by 16%, according to data from the 2021 Census. This is mainly due to the greater professional and family mobility that exists today, as well as to the high prices of homes for sale. But this increase in demand for a structurally scarce supply tipped the balance, marking an upward trajectory for housing rents month after month. At the end of November, rent house in Portugal had a cost of 12.5 euros per square meter (euros/m2) in median terms, 2.9% higher than in October, shows the idealista price index. In relation to the quarterly and annual variation, the increase was 7.9% and 16.3%, respectively.
Aveiro is the capital of the district where rents have risen the most
In November, as house rents jumped 13.1% in Aveiro, 7.5% in Santarém and 7.4% in Porto. As housing for rent also stayed more expensive in Lisbon (3.4%), Braga (3.1%), Leiria (2.4%) and Setúbal (0.8%).
But there were also district capitals where there was a drop in house rents as was the case of Viana do Castelo (-4.7%), Funchal (-3.8%) and Faro (-2.0%). In Coimbra, the price of houses for rent remained stable between October and November.
Lisbon continues to be the capital of the district where it is most expensive to rent house: 17.3 euros/m2. Porto (13.4 euros/m2) and Funchal (10.9 euros/m2) occupy the second and third places, respectively. Aveiro (10.6 euros/m2), Setúbal (9.5 euros/m2), Faro (9.3 euros/m2), Coimbra (8.2 euros/m2) and Viana do Castelo (8.0 euros/m2).
The most economical cities for rent a house in our country they are Santarém (6.5 euros/m2), Leiria (6.7 euros/m2) and Braga (7.5 euros/m2).
Renting a house is more expensive in most districts/islands of the country
Of the 16 districts and islands analyzed, the house prices for rent landed in six territories. The biggest drop in lace was observed in Viseu (-6.6%), followed by Portalegre (-6.5%), Madeira Island (-3.2%), Faro (-1.7%), Vila Real (-0.5 %) and Santarém (-0.4%).
In most of the districts and islands under study, the housing rents they got more expensive. The biggest increase in house prices for rent was felt in Braga (9.4%), followed by Évora (6.0%). rent house it also became more expensive between October and November in Porto (5.5%), Aveiro (3.6%), Lisbon (3.2%), Setúbal (3.1%), Castelo Branco (1.6%), Viana do Castelo (1.0%), Coimbra (1.0%) and Leiria (0.6%).
The ranking of the most expensive districts for rent house is led by Lisbon (15.8 euros/m2), followed by Porto (11.6 euros/m2), Faro (11 euros/m2), Madeira Island (10.6 euros/m2), Setúbal (10.2 euros/m2), Évora (9 euros/m2), Viana do Castelo (8.2 euros/m2) and Aveiro (8.1 euros/m2). This is followed by Leiria (7.6 euros/m2), Braga (7.5 euros/m2) and Santarém (6.3 euros/m2).
The cheapest prices for rent a house it can be found in Portalegre (5.1 euros/m2), Vila Real (5.5 euros/m2), Castelo Branco (5.7 euros/m2) and Viseu (5.9 euros/m2).
House rents fall in the Algarve and Alentejo
During the month of November, the house prices for rent rose in the Autonomous Region of the Azores (10.1%), followed by the North (5.5%), Área Metropolitana de Lisboa (3.3%) and the Center (1.8%). On the other hand, as housing rents declined in the Autonomous Region of Madeira (-2.9%), Alentejo (-1.9%) and Algarve (-1.7%).
The Lisbon Metropolitan Area, with 15.1 euros/m2, continues to be the most expensive region to rent house, followed by the Algarve (11 euros/m2), Autonomous Region of Madeira (10.6 euros/m2) and North (10.6 euros/m2). On the opposite side of the table are the Center (7.5 euros/m2), the Autonomous Region of the Azores (7.8 euros/m2) and the Alentejo (8.1 euros/m2), which are the cheapest regions to rent a house in Portugal.
idealista property price index
In order to create idealista’s real estate price index, the offer prices (based on built-up square meters) published by idealista’s advertisers are analyzed. They are removed from the statistics of atypical ads and with off-market prices.
We also included the “single-family houses” typology and discarded all the advertisements that are in our database and that have been without any kind of interaction by users for some time. The final result is obtained through the median of all valid advertisements in each market.
The full report can be found at: https://www.idealista.pt/media/relatorios-preco-habitacao/arrendamento/