Summary:
House rental prices in Portugal increased by 4.7% in 2024
Average rental cost reached €16.2 per square meter
Lisbon remains the most expensive city for rentals at €20/m2
Cities with the highest rent increases: Faro, Santarém, and Braga
Only Aveiro and Leiria saw a decrease in rental prices
House Rent Prices on the Rise
In 2024, house rental prices in Portugal increased by 4.7%, as reported by Idealista. The average cost of renting reached €16.2 per square meter at the end of December. Lisbon remains the most expensive city for rentals.
Image Source: Canva
Regional Insights
Cities such as Faro, Santarém, and Braga experienced the most significant rent increases. In Lisbon, the average rent stands at €20 per square meter, followed by Porto at €15.7 and Madeira at €15.2.
District Performance
Among district capitals, Faro (13.9%), Santarém (13.6%), and Braga (13.3%) saw the highest increases. Conversely, Aveiro (-1.6%) and Leiria (-1.4%) were the only districts where rents decreased.
Overall Trends
Last year, rental prices rose across all regions, particularly in the Madeira Autonomous Region (€15.1/m2), North (€14.3/m2), and Algarve (€14.3/m2). Despite the year-end increase, prices stabilized on a quarterly basis.
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