Rents fall but Funchal continues to be the third city where it is most expensive to rent a house

The rental price rose in seven cities, with Braga (6.9%) topping the list. The other cities that saw the cost of renting a house rise between the beginning of 2024 and the end of last year were: Santarém (6.3%), Coimbra (4.8%), Castelo Branco (2.8%), Lisbon (2.6%), Porto (1.4%) and Setúbal (1.1%). On the other hand, house rents fell in Évora (-7.6%), Funchal (-7.4%), Faro (-4.3%), Aveiro (-2.1%) and Leira (- 0.8%), show the data released today by Idealista.

Lisbon continues to be the city where it is most expensive to rent a house: 21.5 euros/m2. Porto (17.1 euros/m2) and Funchal (13.5 euros/m2) occupy second and third place, respectively. This is followed by Faro (11.9 euros/m2), Setúbal (11.7 euros/m2), Coimbra (11.2 euros/m2), Aveiro (11.1 euros/m2), Évora (10.7 euros/ m2) and Braga (9.2 euros/m2).

The most economical cities to rent a home are Castelo Branco (6.8 euros/m2), Santarém (7.9 euros/m2), and Leiria (8 euros/m2).

From a regional point of view, that portal highlights that during the first quarter of 2024, prices for houses for rent fell in the Autonomous Region of the Azores (-2.7%) and in the Autonomous Region of Madeira (-2.1% ). But rents rose again in Alentejo (3.7%), Lisbon Metropolitan Area (2.5%), Center (1.1%) and Algarve (1%). In the North region (0.3%), prices remained stable during this period.

“The Lisbon Metropolitan Area, with 18.9 euros/m2, continues to be the most expensive region to rent a house, followed by the North (13.8 euros/m2), Algarve (13.4 euros/m2) and the Autonomous Region from Madeira (13.3 euros/m2). On the opposite side of the table are the Autonomous Region of the Azores (8.7 euros/m2), Centro (9.1 euros/m2) and Alentejo (10 euros/m2) which are the cheapest regions to rent a house” , reveals.