In the elaboration of your expatriation project in Portugal, in addition to being attentive to all the administrative procedures, the costs of the beginning of the adventure, the work, the climate, the currency or the lifestyle, it will be important to inform you about the rental prices of an apartment in Portugal: a very important factor for your expatriation in Lisbon, Porto or in the south of the country. The real estate market situation in the country you are moving to is not something that you can discover at the last minute.
The amounts you will have to spend to stay in Portugal are considered the highest fixed costs for those who choose to rent. This will affect your choice of destination, your living environment and therefore the whole project. Therefore, in this article you will find information on average rents in different cities in Portugal in order to explore other options than Lisbon or Porto before you move to Portugal.
By clicking on the button below and filling in the dedicated form, I will forward your request to 5 Portuguese estate agencies of reference, which will allow you to obtain property proposals on a very large catalogue of apartments or houses for sale in Portugal.
Rental market price in Portugal
Portugal is currently experiencing a very important tourism boom, which is excellent for the country’s economic growth but can be much less beneficial for residents or those considering moving to Portugal. Despite this sharp rise in rental prices, Lisbon remains one of the cheapest capitals in Europe.
In some areas of Lisbon, for example, figures for 2018 show that more properties have been acquired for seasonal rental investment than for residential purposes.
Rental prices have increased across the country especially since 2016 and many owners are choosing to rent their apartments and houses in Portugal on a daily basis via Airbnb or other websites, for short periods of stay and much higher financial returns. As a result, many residents of Portugal end up opting for accommodation further away from the city centre in search of a more affordable rental price.
Renting in Portugal: adapting to those who live in the country
In 2018, there was an increase of about 10% in the value of real estate across the country compared to 2017, with the greatest variations for Lisbon and Porto.
The average value of the square meter for rent in the country is :
- Approximately 4.5 euros per square meter in Portugal.
- More than 11 euros per square metre in Lisbon
- Around 3 euros per square metre in the far north.
Prices vary enormously and you will be able to find beautiful things by moving away from your favourite area while keeping a reasonable distance between your home, your work, your children’s schools or the highlights of your day. The balance of this package will allow you to make the best choice.
Rental prices in Portugal in 2019
You will find below an average of the rental prices in Portugal according to the different areas. This will first allow you to know where it will be possible for you to relocate. Many people don’t do a lot of research before they come, want to live in Lisbon and are confronted with the harsh reality of the real estate market. I consider this period of information and intelligence to be crucial in an expatriation project.
Rental prices in Lisbon
In the country’s capital Lisbon, rental prices are the highest, as well as in its surroundings of Cascais, Estoril and all the other cities along the Tagus river to the west. A one-bedroom apartment in Lisbon (T1) can be rented from €650 per month in the more remote areas to over €1000 per month in the Parque das Nações area for example.
On the other hand, a two-bedroom apartment (T2) has an average initial value of €850 in the areas furthest from the centre of the capital, well over €1,200 in the central areas.
A property with three or more bedrooms (T3 or T4) will have a rent of more than 1300€ and can reach more than 3000€ in historical and central areas of Lisbon.
Rental prices in Cascais
In Cascais, the value of a rental with a room (T1) is around 700€ per month. A two-bedroom apartment (T2) is available from 900€ per month.
A villa with three or more bedrooms can vary between 1500 and 4000€ per month for an apartment with a sea view. Most properties in this area are fully furnished. Cascais is known as a city where life is good, for its quality of life, its proximity to Lisbon, the international airport and the most beautiful beaches.
Rental prices in Faro
Let’s go for a tour now in the much sought-after region of southern Portugal. It is very sought after, has beautiful beaches and landscapes but paradoxically offers more interesting rents for rent.
The average rent in Faro for a one bedroom apartment (T1) is 400€ per month. A two bedroom property (T2) has an average rent of 700€ per month and a three bedroom apartment (T3) can be rented around 1000€ per month.
Rental prices in Coimbra
In the central region of Portugal, as in Coimbra, the rent for a one-bedroom apartment (T1) is around 400€ per month. A two-bedroom apartment rents on average around 600€ and a villa with three or more bedrooms costs on average 750€ per month.
Rental prices in Porto
In the north of the country, the city of Porto is the second largest city in Portugal. The rent for the one-bedroom apartments is around 600€ per month. A two-bedroom property (T2) will have an average monthly rent of €750 and an apartment with three or more bedrooms (T3 and T4) is rented for around €1000 per month.
It should be noted that in Portugal, whether in Lisbon or Porto, properties with two or three bedrooms are rarer and therefore more expensive. It is not uncommon to see apartments without a bedroom or with one bedroom for an area of 80 square meters.
Prix des loyers à Braga
Also in northern Portugal, the city of Braga will be more affordable in terms of rents. They can go from 350€ per month for a one bedroom apartment (T1), 450€ per month for two bedrooms (T2) and 650€ for three or more bedrooms.
It should be noted, however, that the north of Portugal has much more affordable rents than the centre after Porto. The city of Porto will be more affordable for apartments of 2 bedrooms or more.
Rentals in Portugal: things to know
The rental prices in Portugal shown here are averages and it is possible to make good deals by contacting individuals directly. Prices are never fixed and here more than anywhere else with the real estate boom, it is possible to negotiate the posted prices.
Rental prices in Portugal vary according to different criteria:
- The age of the property
- Its location
- Its state of conservation
Most Portuguese properties are rented furnished. Houses usually have higher rents than apartments and this is quite normal.
To rent an apartment in Portugal you must have a Tax Identification Number (TIN), have a Portuguese guarantor or pay the rent in advance and a deposit. The number of rentals paid in advance varies depending on the real estate company or owner, which can be between 5 and 6 rentals if you have no guarantor and low income.
Buying real estate in Portugal
By validating the contact form, you authorize me to transmit your request to English-speaking estate agencies of reference which will be able to contact you directly. Nothing is automated: they are people based in Lisbon who are qualified to accompany you in your approach & your project.
