Portugal continues to be an affordable destination for tourists to visit

in News · 14-05-2020 10:00:00 · 0 Comments

Although Portugal has seen a rise in its property prices this year, rental prices have declined since 2019, with various destinations experiencing a significant drop in April 2020. Could this suggest that now could be the perfect time to book a future holiday in Portugal? For most, a summer holiday is ‘off the cards,’ however airlines are witnessing an increase in demand for December holidays and some holidaymakers are planning in advance for 2021.

According to Imovirtual, there have been substantial drops in rental prices across some of the most sought-after locations. Destinations such as Faro, Madeira and Lisbon have noted a decrease in property rental price, making the three regions more affordable for short term stays compared to April 2019. April 2020’s property rental figures provide the following price drops:

- Faro (Algarve): -24.14% (average price per month now €880, compared to last year’s €1,160)

- Madeira: -8.78% (average price per month now €893, compared to last year’s €979)

- Lisbon: -9.58% (average price per month now €1,510, compared to last year’s €1,670)

Overall, property rental prices have decreased by 14% in Portugal, since April 2019, according to Imovirtual. Popular locations such as the above will inevitably reap the benefits with tourism from various nations once travel restrictions are lifted, however numerous other destinations have also reported a decrease in rental prices, therefore expanding the options for holidaymakers who are looking to getaway on an affordable budget. Imovirtual announces the following destinations in Portugal that also note a decrease in property rental prices:

- Guarda: -40.10% (average price per month now €348, compared to last year’s €581)

- Braganca: -24.34% (average price per month now €401, compared to last year’s €530)

- Porto: -9.59% (average price per month now €1,065, compared to last year’s €1,178)

- Leiria: -8.98% (average price per month now €527, compared to last year’s €597)

- Viseu: -8.55% (average price per month now €428, compared to last year’s €468)

- Viana do Castelo: -7.12 (average price per month now €561, compared to last year’s €604)

- Braga: -3.73% (average price per month now €723, compared to last year’s €751)

- Castelo Branco: -3.51 (average price per month now €412, compared to last year’s €427)

- Coimbra: -2.03% (average price per month now €530, compared to last year’s €541)

Read more on Imovirtual’s findings and April’s Barometer here


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