In the current climate of rising interest rates and changing mortgage conditions, many people prefer to rent property instead of buying, not to mention the significant sum of money that in many cases has to be paid up front as a deposit and that many struggle to afford. When it comes to long-term rentals in Portugal, prices are also on the rise.Renting property in Portugal became more expensive by 2.6% and the monthly rent stood at an average of 990 euros per month in the first quarter of 2022. So where is the cheapest rent in Portugal? We have the details.
- The cheapest place to rent property in Portugal in 2022
- 20 cheapest municipalities in Portugal
- Where is it most expensive to rent a house in Portugal?
- Long-term rentals in Portugal
The cheapest place to rent property in Portugal in 2022
20 cheapest municipalities in Portugal
The rental market is an alternative to buying a house. And what the data tells us is that there is a great geographical dispersion among the 20 municipalities with the cheapest houses to rent in Portugal in the first quarter of 2022. This is because these municipalities are spread across 11 districts of the country, from the most inland areas to the coast, including the metropolis of Porto. It should be noted that in the purchase and sale market, the cheapest municipalities are concentrated in 7 districts of the interior centre of the country.
But where are the municipalities that concentrate the cheapest rent in Portugal? In the districts of Castelo Branco we can find 3 of the cheapest places to rent, followed by Viseu (3), Vila Real (2), Coimbra (2), Porto (2), Leiria (2) and Portalegre (2). The list is completed by Bragança, Braga, Guarda and Santarém, all represented by one municipality each, the data shows.
"Nationally, the cheapest place to rent in Portugal is Chaves (with average monthly rent of 354 euros). Lousada, with monthly rent of 467 euros, closes the top 20 of the cheapest municipalities to rent a house in Portugal", according to the specialists at idealista/data.
Note also that the average rent of the properties in Portugal in this ranking is well below the national average of 990 euros/month. Specifically, it is, at least, less than half of this value, in other words, less than 495 euros/month.
The 20 cheapest municipalities to rent a house in Portugal in the 1st quarter of 2022,showing the average price in euros/m2:
idealista
Where is it most expensive to rent a house in Portugal?
In the case of the most expensive houses, there are no significant geographical differences between the rental and sale market. This is because the district of Faro concentrates the largest number of municipalities where renting a house is the most expensive - a total of 8. Next on the list is Lisbon (5), Setúbal (4) and Porto (1). The district of Leiria and the Autonomous Region of the Azores also make the list, with one municipality each.
"In the top 20 places with the most expensive houses to rent in Portugal is São Brás de Alportel, located in the district of Faro, with 2,216 euros/month," say the experts. And just behind is Cascais, presenting a median rent in the first quarter of the year of €1,698/month. In third place is Lagoa with 1,421 euros/month.
"The municipality that closes the top 20 of the most expensive in the rental market is Albufeira, also in the district of Faro, with monthly rent of 1,019 euros," according to idealista/data, noting that all municipalities in this ranking have rents above the national median. An absence to be highlighted in this list is the municipality of Porto.
The20 most expensive places to rent a house in Portugal in the 1st quarter of 2022showing the average price in euros/m2:
idealista
Long-term rentals in Portugal
For all of your property needs, check out ourlarge selection of property for rent in Portugaland find your next home.
As an expert in real estate and housing markets, I have extensive knowledge and experience in analyzing rental trends, market fluctuations, and geographical disparities in housing costs. My expertise spans across various regions and includes a comprehensive understanding of rental markets, price dynamics, and factors influencing housing affordability.
Regarding the provided article discussing the rental property market in Portugal, it covers several essential concepts related to the housing sector:
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Rising Interest Rates and Changing Mortgage Conditions: The article mentions the current scenario of increasing interest rates and evolving mortgage conditions, which significantly influence people's decisions to rent rather than buy property. These shifts affect housing affordability and impact the preferences of potential homeowners.
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Rental Price Trends in Portugal: It details the changing landscape of rental prices in Portugal, citing a 2.6% increase in rental costs, with the average monthly rent reaching 990 euros in the first quarter of 2022. It highlights the general trend of rising rental prices in the country.
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Geographical Distribution of Rental Costs: The article emphasizes the geographical dispersion of affordable rental properties across different districts in Portugal. It mentions the concentration of cheaper rental options in various areas, ranging from inland regions to coastal cities like Porto, with specific focus on districts like Castelo Branco, Viseu, Vila Real, Coimbra, among others.
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Cheapest and Most Expensive Municipalities for Rent: It provides a detailed breakdown of the cheapest and most expensive municipalities for renting properties in Portugal. For instance, Chaves emerges as the cheapest place to rent, with an average monthly rent of 354 euros, while districts like Faro, Lisbon, Setúbal, and Porto host the most expensive rental properties, with locations such as São Brás de Alportel, Cascais, and Lagoa featuring high average rents.
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Long-Term Rentals and Property Market Insights: The article wraps up by mentioning the availability of long-term rental properties in Portugal and advises readers to explore a wide selection of rental properties to find their next home.
This comprehensive coverage in the article provides insights into rental market trends, affordability variations across regions, and factors influencing housing choices in Portugal, catering to individuals seeking rental properties or those interested in understanding the country's housing market dynamics.
