House rental prices fall 3%

By Sarah Polonsky, in Property, Business, News · 02-03-2021 13:00:00 · 0 Comments

House prices for rent in Portugal fell 0.6% in February, reaching 11.1 euros per square meter (m2). In relation to the quarterly variation, the decline was 0.9%, according to the Idealista price index. In annual terms, that is, compared to February last year, the decline was 3%.

Regions

During February, house prices for rent fell in the Metropolitan Area of ??Lisbon (-1%), in the Autonomous Region of Madeira (-0.4%) and in the Autonomous Region of the Azores (-0.1%). On the other hand, it was in Alentejo where prices increased more, with a 4.1% increase, followed by Centro (1%) and Algarve (0.9%). In the North, prices remained stable.

The Metropolitan Area of ??Lisbon, at 12.7 euros per m2, remains the most expensive region, followed by the North (9.3 euros per m2), Algarve (9.1 euros per m2), and the Autonomous Region of Madeira (8.3 euros per m2). On the opposite side of the table are the Center (6.4 euros per m2), the Alentejo (6.8 euros per m2) and the Autonomous Region of the Azores (7.5 euros per m2), which are the cheapest regions.

Districts / Islands

Of the districts analysed, the biggest increases in February took place in Santarém (4%), Viana do Castelo (2.2%) and Leiria (1.7%). Viseu (1.2%), Coimbra (1.1%), Faro (0.9%), Porto (0.7%), Setúbal (0.3%) and São Miguel Island ( 0.2%). In the opposite direction, they went down in Braga (-3.7%), Castelo Branco (-3.3%), Lisbon (-0.9%), Aveiro (-0.7%) and Madeira Island (-0, 4%).

It should be noted that the ranking of the most expensive districts to rent a house is Lisbon (13 euros per m2), followed by Porto (10 euros per m2), Faro (9.1 euros per m2), Setúbal (8.5 euros per m2) and Madeira Island (8.3 euros per m2). Renting a house on the island of São Miguel costs 7.9 euros per m2, in Aveiro 7.2 euros per m2, Coimbra 6.9 euros per m2 and Braga 6 euros per m2.

The cheapest prices are found in Castelo Branco (4.8 euros per m2), Viseu (4.9 euros per m2), Santarém (5.1 euros per m2), Viana do Castelo (5.4 euros per m2) and Leiria (5.9 euros per m2).

District capital cities

The rental price fell in six district capitals, with Aveiro (-5.9%) and Funchal (-2%) leading the list. Accompanying this drop in prices are Ponta Delgada and Leiria (-1.7% in both cities), Braga (-1.5%) and Lisbon (-0.5%).

On the other hand, prices increased in Castelo Branco (5.5%), Viana do Castelo (5.1%), Viseu (3.2%), Faro (2.8%), Setúbal (1.9%), Santarém (1.6%), Coimbra (1.5%) and Porto (0.8%).

Lisbon remains the city where it is most expensive to rent a house: 13.6 euros per m2. Porto (10.7 euros per m2) and Funchal (8.5 euros per m2) occupy the second and third places, respectively. The most economical cities are Castelo Branco (4.7 euros per m2), Viseu (4.9 euros per m2) and Santarém (5.1 euros per m2).



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