If you want to live in Portugal, the best short-term choice is to first rent a flat there. This will allow you to see the difference between the map and the land and then decide to invest and buy your home.
This article will help you understand the year-round rental market in Portugal.
In 2021, rents in Portugal were on average 20% lower than in France. But this average doesn’t mean much because there are huge differences depending on whether you are in Lisbon or not.
Let’s take a closer look at some figures from November 2022 on yearly rental prices in Portugal from our real time market analysis tools. To obtain these figures, we have counted thousands of rental offers, removing the extreme values that can distort the results.
Price of a yearly rental in Portugal by region
Map of average rents per m2 in Portugal
Lisbon 18 €
Porto 13 €
Faro 11 €
Setúbal 10 €
Évora 10 €
Aveiro 8 €
Coimbra 8 €
Leiria 7 €
Beja 7 €
Braga 7 €
Santarém 6 €
Castelo Branco 6 €
Viseu 6 €
Vila Real 6 €
Bragança 6 €
Portalegre 5 €
Guarda 5 €
Average rents for a 2 bedroom apartment in Portugal
Map of average rents for a 2 bedroom apartment in Portugal
Lisbon 1,487 €
Madeira 1 250 €
Faro 992 €
Porto 947 €
Setúbal 833 €
Braga 703 €
Aveiro 686 €
Leiria 683 €
Viana do Castelo 667 €
Évora 662 €
Coimbra 617 €
Santarém 596 €
Viseu 554 €
Beja 523 €
Vila Real 510 €
Portalegre 500 €
Bragança District 482 €
Castelo Branco 469 €
Guarda 426 €
Average rents for a house in Portugal
Map of average house rents in Portugal
Lisbon 2 989 €
Setúbal 1 884 €
Faro 1 785 €
Porto 1 532 €
Madeire 1 100 €
Aveiro 941 €
Braga 938 €
Viana do Castelo 895 €
Leiria 870 €
Santarém 808 €
Beja 770 €
Évora 760 €
Bragança 753 €
Castelo Branco 719 €
Vila Real 690 €
Viseu 652 €
Portalegre 589 €
Coimbra 576 €
Guarda 516 €
Average rents per city in Portugal
If we go into the details of the largest cities in Portugal, we can observe strong disparities depending on whether you are located in the hyper-center or in the outskirts and whether your city is Lisbon, Porto… or another.
Average rents per m2 in Porto by neighborhood
Map of average rents in Porto
Cedofeita, Santo Ildefonso, Sé, Miragaia, São Nicolau e Vitória 21 €
Bonfim 18 €
Aldoar, Foz Do Douro e Nevogilde 15 €
Campanhã 14 €
Lordelo do Ouro e Massarelos 14 €
Matosinhos e Leça da Palmeira 13 €
Paranhos 12 €
São Mamede de Infesta e Senhora da Hora 12 €
Ramalde 11 €
Custóias, Leça do Balio e Guifões 10 €
Perafita, Lavra e Santa Cruz do Bispo 9 €
Average rents per m2 in Lisbon by neighborhood
Map of average rents in Lisbon
Santa Maria Maior 28 €
Santo António 27 €
Misericórdia 26 €
Estrela 23 €
Belém 22 €
São Vicente 22 €
Arroios 21 €
Campo de Ourique 21 €
Avenidas Novas 20 €
Campolide 20 €
Parque das Nações 19 €
Penha de França 19 €
Ajuda 18 €
Alcântara 18 €
Alvalade 17 €
Beato 17 €
Areeiro 16 €
Marvila 16 €
Olivais 16 €
Carnide 16 €
São Domingos de Benfica 16 €
Benfica 14 €
Lumiar 13 €
Santa Clara 12 €
Average rents per m2 in Faro by neighborhood
Map of average rents in Faro
Montenegro 23 €
Faro (Sé e São Pedro) 12 €
Santa Bárbara de Nexe 10 €
Conceição e Estoi 7 €
Average rents per m2 in Coimbra by neighborhood
Map of average rents in Coimbra
São Martinho de Árvore e Lamarosa 12 €
Santa Clara e Castelo Viegas 10 €
Assafarge e Antanhol 10 €
Coimbra 10 €
Santo António dos Olivais 8 €
São Martinho do Bispo e Ribeira de Frades 8 €
Ceira 7 €
Antuzede e Vil de Matos 7 €
Eiras e São Paulo de Frades 6 €
Trouxemil e Torre de Vilela 6 €
Beware of averages: strong disparities
Please note that many factors can vary the price of a yearly rental in Portugal.
The condition of the apartment, its standing, the fact that it is equipped or not, its surface, the view, the presence of an exterior, a parking lot, an elevator, heating, air conditioning and of course the location… are all factors that can increase the price.
Note also that a Portuguese T1 is not equivalent to a French T1. Indeed, in Portugal, the number corresponds to the number of rooms whereas in France it corresponds to the number of rooms. Thus, a T3 in Portugal has three bedrooms, a T3 in France has two.
Why are Portuguese rents relatively high?
The rents charged are overall quite high. It is a landlord market for several structural reasons.
The explosion of tourism in the country has resulted in some regions of Portugal facing a shortage of long-term rental accommodation. It is more profitable for owners to rent furnished tourist accommodation than to rent it on a yearly basis.
Portugal is also experiencing an important craze from many foreigners who wish to settle and live there. Many buildings are still being renovated.
The owners who rent their property for a long period of time are faced with a large number of applicants. They have therefore become more demanding. Your profile will be studied and the best file will be the one that offers the most guarantees.
Landlords often ask expatriates to make an advance payment of 6 months’ rent.
Finally, you should know that in Portugal, selling is much more common than renting. 75% of Portuguese people are owners compared to 60% in France.
