According to Postal newspaper who cites Imorvirtual, the published data relates to the period between November 2022 and 2023 and compares the average value of properties for rent, nationally.

According to Imovirtual, there is an average increase in rents of 39%, which can translate into an increase of 350 euros, when compared to the same period last year. The same study states that, despite the stabilisation of prices, in November there was an increase of 4%.

As for the Algarve, Imovirtual states that renting a house has an average cost of 1,000 euros, 18% more than in November 2022.

Municipalities in the Algarve

Faro was the municipality where there was a biggest increase in the price of renting houses, standing at 76%, now, on average, renting a house in Faro costs 1500 euros.

Loulé is the second municipality with the biggest increase in the value of rents, increasing 50% of what was recorded in the same period last year.

Lagoa and Albufeira follow, with increases of around 40%, with average rental prices starting at 1,000 euros.

In general, Silves, Tavira, Portimão and Lagoa are the municipalities where rent can be cheaper, ranging from 850 euros to 1,000 euros.

The most expensive, currently, are the municipalities of Loulé, Faro, Olhão and Lagos, where the average rental price is over 1,000 euros.

As for the purchasing market, Imovirtual reports that, on average, a house in the Algarve costs 425 thousand euros, marking it as one of the most expensive districts in Portugal, which registered an increase of 8% compared to the same period last year.

Alcoutim was the municipality where prices rose the most, an increase of more than 50%, in a municipality where, on average, a house costs 102,500 euros. Lagos was the second municipality with the highest increase in house prices. Portimão and Faro saw an increase of more than 15%, with average prices of 365 thousand and 350 thousand euros, respectively.

Aljezur, Albufeira, Castro Marim and Lagoa, were the only municipalities that registered a drop in the average price or stagnation, compared to the same period last year. Currently, Alcoutim, Monchique, Vila Real de Santo António and Silves are the municipalities where it is cheapest to buy a house. On the other hand, the highest prices are in Vila do Bispo, Lagos, Loulé, Aljezur and Castro Marim.