Home rentals in Portugal up 4.7% in 2024

Prices of houses for rent in Portugal increased by 4.7% in December 2024 compared to the same month in the previous year. According to the Idealista price index, renting a house had a cost of €16.2 per square meter (euros/m2) at the end of December 2024, taking into account the average value. In relation to the quarterly variation, house rents remained stable ( 0.3%).

The price of houses for rent rose in 2024 in Faro (13.9%), Santarém (13.6%), Braga (13.3%), Viana do Castelo (12.6%), Setúbal (8.3%), Coimbra (7.2%), Funchal (5.2%), Castelo Branco (5%), Viseu (4.9%), Porto (4.7%) and Lisbon (4.1%). In Évora (0.4%), the value of the lease stabilised. On the other hand, house prices fell in Aveiro ( 1.6%) and Leiria ( 1.4%), being the only district capitals where rents became cheaper.

Lisbon remains the city where it is most expensive to rent a house: €21.8/m2. Porto (€17.7/m2) and Funchal (€15.3/m2) occupy the second and third places, respectively. Following are Faro (€14.1/m2), Setúbal (€12.6/m2), Évora (€11.6/m2), Coimbra (€11.4/m2), Aveiro (€11.2/m2), Braga (€9.8/m2), Viana do Castelo (€8.5/m2) and Santarém (€8.4/m2). The most economical cities are Castelo Branco (€7/m2), Viseu (€7.3/m2) and Leiria (€8/m2).

Of the 18 districts and islands analysed, prices in the last 12 months only fell in Viseu ( 0.7%) and Castelo Branco ( 2.8%). On the other hand, prices rose in Vila Real (21.4%), Beja (12.5%), Madeira Island (12.2%), Portalegre (12%), Santarém (11.3%), Braga (10.9%), Faro (7.7%), Setúbal (7.2%), São Miguel Island (6.7%), Coimbra (6.3%), Évora (5.6%), Lisbon (4.5%), Porto (3.7%), Aveiro (3.5%), Leiria (3.4%) and Viana do Castelo (2.8%).