In 2024, there has been a noticeable increase in the number of rental agreements in Portugal. However, the supply of rental properties remains insufficient to meet the high demand. Against this backdrop, rental prices rose by 4.9% in November compared to the same month last year. As a result, the median cost of renting a home reached €16.1 per square meter (€/m²) by the end of November this year, according to Idealista’s price index. On a quarterly basis, however, rental prices saw a 1% decline.
Rental Prices Rise in Most Major Cities
Over the past year, rental prices increased in 10 out of 12 district capitals with significant data samples. Notable increases were observed in Santarém (15.4%), Braga (11.8%), Coimbra (10%), Setúbal (7.2%), Porto (5.7%), Lisbon (5.6%), Castelo Branco (3.2%), Leiria (1.8%), Viana do Castelo (1.7%), and Viseu (1.6%).
In Évora, rental values remained relatively stable, with a slight decline of 0.5%. Meanwhile, Aveiro was the only district capital where rental prices dropped, falling by 2.3% over the year.
Lisbon continues to be the most expensive city to rent a home, with prices at €21.9/m². Porto (€17.6/m²) and Setúbal (€12.4/m²) rank second and third, respectively, followed by Évora (€11.6/m²), Aveiro (€11.2/m²), Coimbra (€11.2/m²), Braga (€9.7/m²), and Viana do Castelo (€8.3/m²).
The most affordable cities for renting in Portugal are Castelo Branco (€6.9/m²), Viseu (€7/m²), Leiria (€8.1/m²), and Santarém (€8.2/m²).
In: Idealista
