Rents rose across Portugal, costing on average €16.20 per square metre at the end of December.

According to the Idealista price index, renting a house in the Algarve cost an average of €14.3 per square metre at the end of December last year. However, prices fell by 2.3% in relation to the quarterly variation.

In the last year, prices in the region rose in Albufeira (13.90%), Faro (13.90%), Vila Real de Santo António (13.20%), Silves (10.30%), Olhão (2.70%), Portimão (2.70%) and Lagos (1.80%). In Loulé, prices remained stable as in Lagos (0.30%). On the other hand, prices fell in Lagoa (-6.90%).

The most expensive municipality to rent a house is Loulé (€16.30/m2), followed by Albufeira (€15/m2), Tavira (€14.60/m2), Faro (€14.10/m2), Lagos (€13.70/m2), Portimão (€12.90/m2) and Silves (€12.60/m2).

On the other hand, the most economical are Olhão (€11.50/m2), Vila Real de Santo António (€11.70/m2) and Lagoa (€12.30/m2).

National rents rose by 4.7% in 2024, reaching an average of €16.20/m2.

In 2024, rents rose across the country: 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%).

The rental value stabilised in Évora (0.4%). On the other hand, house prices fell in Aveiro (-1.6%) and Leiria (-1.4%), the only district capitals where prices fell.

Lisbon remains the most expensive city for renting a house, with rents reaching €21.80/m2. Porto (€17.70/m2) and Funchal (€15.30/m2) are second and third, respectively.

Next come Faro (€14.10/m2), Setúbal (€12.60/m2), Évora (€11.60/m2), Coimbra (€11.40/m2), Aveiro (€11.20/ m2), Braga (€9.80/m2), Viana do Castelo (€8.50/m2) and Santarém (€8.40/m2).

The most economical cities are Castelo Branco (€7/m2), Viseu (€7.30/m2) and Leiria (€8/m2).