Renting a house in the region costs 13.6 euros/m2
Prices of houses for rent in the Algarve rose 2% in April compared to the previous month. According to the idealista price index, renting a house cost 13.6 euros per square meter (euros/m2) at the end of April this year, taking into account the median value. In relation to the quarterly variation, prices rose 3% and the annual variation increased by 12.2%.
In April, prices in the region rose in Faro (8.3%), Vila Real de Santo António (4.8%), Loulé (3.2%), Portimão (2.5%), Silves (1.6 %), Tavira (1.1%), Lagos (0.9%) and Lagoa (0.8%).
The most expensive municipality to rent a house is Loulé (16.8 euros/mtwo), followed by Lagos (14.3 euros/m2), Portimão (13.5 euros/m2), Faro (12.9 euros/m2) and Lagoa (12.2 euros/m2). On the other hand, the most economical are Vila Real de Santo António (11.4 euros/m2), Tavira (11.4 euros/m2) and Silves (12 euros/m2).
At national level, housing prices rose 1.7% during the same period, standing at 16.1 euros/mtwo.
District capital cities
The price of houses for rent in April only fell in Castelo Branco (-2.5%). On the other hand, prices increased in Faro (8.3%), Évora (5.4%), Aveiro (5.3%), Setúbal (3.6%), Viseu (3.5%), Coimbra ( 2.9%), Funchal (2.6%), Porto (1.5%), Viana do Castelo (1.4%) and Braga (0.7%). In Lisbon (0.4%) and Leiria (0.4%), prices remained stable during this period.
Lisbon continues to be the city where it is most expensive to rent a house: 21.6 euros/m2. Porto (17.4 euros/m2) and Funchal (13.8 euros/m2) occupy second and third place, respectively. This is followed by Faro (12.9 euros/m2), Setúbal (12.2 euros/m2), Aveiro (11.7 euros/m2) and Coimbra (11.5 euros/m2). The most economical cities are Castelo Branco (6.7 euros/m2), Viseu (7.8 euros/m2), Leiria (8 euros/m2), Viana do Castelo (8.3 euros/m2), Braga (9 .3 euros/m2) and Évora (11.2 euros/m2).
Districts/Islands
Of the 17 districts and islands analyzed, prices in April only fell in Beja (-2.5%).
On the other hand, prices rose in Castelo Branco (6.5%), Portalegre (5.1%), Santarém (4.5%), Coimbra (4.3%), Aveiro (3.3%), Braga (3%), Madeira island (3%), Évora (2%), Faro (2%), Viseu (1.7%), Lisbon (1.1%), Viana do Castelo (0.6%) and Porto (0.6%). In Setúbal (0.2%), Vila Real (-0.3%) and Leiria (-0.4%), prices remained stable during this period.
It should be noted that the ranking of the most expensive districts to rent a house is led by Lisbon (19.8 euros/m2), followed by Porto (15.2 euros/m2), Madeira Island (13.8 euros/m2), Faro (13.6 euros/m2), Setúbal (12.6 euros/m2), Coimbra (10.7 euros/m2), Évora (10.1 euros/m2), Beja (9.9 euros/m2), Aveiro (9.7 euros/m2), Braga (9.4 euros/m2), Leiria (9.2 euros/m2) and Viana do Castelo (8.2 euros/m2).
The most economical prices are in Vila Real (5.9 euros/m2), Portalegre (6.1 euros/m2), Viseu (7.2 euros/m2), Castelo Branco (7.2 euros/m2) and Santarém (7.8 euros/m2).
Regions
During the month of April, prices for rental homes rose in all regions of the country. Leading the rises is the Autonomous Region of the Azores (5.2%), followed by the Autonomous Region of Madeira (3%), Algarve (2%), Centro (2%), Alentejo (1.5%), Lisbon Metropolitan Area (1.3%) and North (1%).
The Metropolitan Area of Lisbon, with 19.1 euros/m2, continues to be the most expensive region, followed by the North (13.9 euros/m2), Autonomous Region of Madeira (13.7 euros/m2) and Algarve (13 .6 euros/m2). On the opposite side of the table are the Autonomous Region of the Azores (9.2 euros/m2), the Center (9.3 euros/m2) and Alentejo (10.2 euros/m2) which are the cheapest regions.
idealista property price index
To create the idealista property price index, the offer prices (based on built square meters) published by idealista advertisers are analyzed. Atypical advertisements and those with out-of-market prices are eliminated from the statistics.
We also include the “single-family houses” typology and discard all ads that are in our database and that have not been interacted with 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/
