More Homes for Rent in Portugal: A Glimpse of Hope for the Housing Crisis?

More Homes Available for Rent in Portugal

The housing crisis in Portugal has been fueled by a shortage of available properties. However, after an increase in housing stock for sale, there is now a confirmed increase in homes available for rent in the second quarter of 2024.

Data from idealista reveals a 67% surge in available rental properties compared to the same period in 2023.

15 district capitals saw a rise in rental offerings. Aveiro leads the pack with a 145% increase, followed by Faro (103%), Funchal (100%), and Porto (97%). Other cities with significant increases include Setúbal (93%), Braga (87%), Lisbon (86%), Coimbra (70%), Santarém (68%), Vila Real (63%), Viseu (49%), Leiria (46%), Évora (42%), Bragança (32%), and Castelo Branco (18%).

Beja experienced a 38% decline in rental offerings, making it the city with the most significant decrease. This is followed by Guarda (-14%), Ponta Delgada (-12%), Portalegre (-10%), and Viana do Castelo (-6%).

Aveiro also tops the list for district-wide rental growth in the past year, with a 93% increase. Madeira (88%), Porto (73%), Braga (73%), Santarém (72%), Lisbon (71%), Coimbra (68%), Faro (66%), Évora (61%), Leiria (57%), Vila Real (52%), and Viseu (50%) also saw notable increases.

Districts with smaller increases include Setúbal (41%), Viana do Castelo (36%), Castelo Branco (35%), Bragança (32%), Portalegre (12%), and Guarda (5%).

Beja (-7%) is the only district to see a decline in rental offerings in the second quarter, while São Miguel Island remained stable.

This positive trend suggests a possible easing of the housing crisis in Portugal, offering a glimmer of hope for those struggling to find affordable rental accommodations.