Rental prices down 4.5% last year

By TPN/Lusa, in News, Business, Property · 05-07-2021 17:00:00 · 0 Comments

The cost of renting in Portugal fell 4.5% in a year, in June 2021 compared to the same month of May last year. According to the idealist price index, at the end of June this year, renting a house had a cost of 11 Euros per square meter (Euros/m2).

Regions

During the last year, the prices of houses for rent decreased in the Lisbon Metropolitan Area (-6,2 percent), in the North (-1,7 percent) and in the Algarve (-0,2 percent). On the other hand, the Autonomous Region of the Azores saw the greatest increase in prices (12.3 percent), followed by the Alentejo (6.4 percent), the Centre (6.1 percent) and the Autonomous Region of Madeira (5.2 percent).

The Lisbon Metropolitan Area, with 12.5 sqm, continues to be the most expensive region, followed by the Algarve (9.4 sqm), the North (9.3 sqm) and the Autonomous Region of Madeira (8 sqm). On the opposite side of the table are the Centre (6.3 Euros/m2), the Autonomous Region of the Azores (6.8 Euros/m2) and the Alentejo (6.8 Euros/m2) which are the cheapest regions.

Districts/Isles

Of the districts analysed, the largest falls during the pandemic took place in Lisbon (-6.3 percent), Braga (-5 percent), Viana do Castelo (-2 percent), Castelo Branco (-1.3 percent), Porto (-0.6 percent) and Faro (-0.2 percent).

Viseu (14.5 percent), Évora (12.6 percent), São Miguel Island (10.9 percent) and Coimbra (8.4 percent) all rose. Next on the list are Aveiro (5 percent), Santarém (4.9 percent), Leiria (4.8 percent), Madeira Island (4.5 percent) and Setúbal (0.4 percent).

Note that the ranking of the most expensive districts to rent a house is led by Lisbon (12,8 Euros/m2), followed by Porto (10 Euros/m2), Faro (9,4 Euros/m2), Setúbal (8,5 Euros/m2) and Madeira Island (8 Euros/m2). To rent a house in Évora costs 7,9 Euros/m2, in Coimbra 7,1 Euros/m2, in Ilha de São Miguel 6,9 Euros/m2, Aveiro 6,8 Euros/m2 and Braga 6 Euros/m2.

The cheapest prices are found in Vila Real (4.6 EUR/m2), Castelo Branco (5.1 EUR/m2), Santarém (5.2 EUR/m2), Viseu (5.3 EUR/m2), Viana do Castelo (5.5 EUR/m2) and Leiria (5.7 EUR/m2).

District capital cities

Rents decreased in five district capital cities, with Lisbon (-8 percent), Braga (-5.6 percent) and Faro (-5.6 percent) leading the list. Viana do Castelo (-3.7 percent) and Oporto (-0.8 percent) followed suit.

On the other hand, prices increased in Coimbra (10.7 percent), Castelo Branco (6.9 percent), Viseu (6.6 percent), Leiria (6.4 percent), Évora (3.8 percent), Setúbal (3.5 percent), Aveiro (2.9 percent), Ponta Delgada (1.8 percent) and Funchal (0.3 percent).

Lisbon continues to be the city where it is most expensive to rent a house: 13,3 Euros/m2. Porto (10,8 Euros/m2) and Faro (8,6 Euros/m2) are in second and third place, respectively. The most economical cities are Castelo Branco (4,7 Euros/m2), Viseu (5,2 Euros/m2) and Viana do Castelo (5,4 Euros/m2).

Photo: WikiCommons



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