Rental rates are going down in Portugal
This last August, the average rental price of residential real estate in Portugal fell by almost 5% on a yearly bases.
The Idealista Price Index shows that in August this year the rental price of residential real estate in Portugal decreased by 4.9%. Today this figure amounts to 10.90 euros per square meter.
The situation in the regions
The most significant decrease in rental prices has been observed in the Lisbon region (6.2%). Next come the North (0.6%) and the Algarve (0.6%). The fastest growth in rates has taken place in Alentejo (+ 3.9%), followed by the Center (+ 3.8%) and the Autonomous Region of Madeira (an increase of 2.4%). There has been a slight growth tendency on the Azores (+ 0.9%).
Where is renting the most expensive? How about the most affordable?
The Lisbon region continues to be the most expensive (12.4 euros per square meter). Next come the Algarve (€ 9.8 per m²) and Madeira (€ 8.1 per m²). When it comes to the cheapest rental housing, we need to highlight the Autonomous Region of the Azores (6.9 euros per square meter), Alentejo (6.8 euros) and the Center (6.4 euros).