House rental prices in Portugal recorded a 4.9% increase in August compared to the same period last year, a 2.3% rise from July, and quarterly growth of 11.9%, according to data from the idealista portal. The average value per square metre settled at 18.1 euros in August, approaching the historical high of 18.6 euros per square metre recorded in May.
In terms of district capitals and autonomous regions, prices increased in 9 of the 14 locations analysed. The biggest annual increases were seen in Viana do Castelo (32.2%), Aveiro (23.8%), Funchal (11.3%) and Braga (10.7%). Conversely, Coimbra (-8.2%), Faro (-6.4%) and Porto (-6.3%) recorded the biggest declines. Lisbon remains the most expensive city to rent in, with a median price of 24.5 euros/m2, followed by Porto (18.6 euros/m2) and Funchal (17.3 euros/m2).
At the district level, prices rose in 14 of the 19 districts and islands, with the biggest increases in Faro (22.8%), Viana do Castelo (19.3%), Aveiro (16%) and the island of São Miguel (12.6%). The Lisbon district leads the ranking with a median price of 22.2 euros/m2, followed by Faro (21.3 euros/m2), Madeira island (16.2 euros/m2) and Porto (16.1 euros/m2).
By region, prices rose in six of the seven regions analysed, with only the North recording a decline (-6.3%). The Algarve showed the biggest annual increase (22.8%), followed by the Alentejo (11%) and the Autonomous Region of Madeira (10.3%). The Lisbon Metropolitan Area became the most expensive region in the country to rent a home, with a median price of 21.5 euros/m2, surpassing the Algarve (21.3 euros/m2).
