Algarve Rent Prices on the Rise
The prices for renting homes in the Algarve have surged by 12% in April compared to the same month last year, according to the Idealista price index. By the end of April, the median rental cost reached €15.3 per square meter (€/m²), while quarterly prices remained stable.
Regional Price Increases
In the past year, the most significant price increases were observed in:
- Silves: 15.4%
- Vila Real de Santo António: 12.1%
- Olhão: 6.4%
Conversely, the municipality with the lowest rental price is Olhão at €12.2/m².
National Overview
Nationally, rents increased by 5.1%, with the average price standing at €16.9/m² in April. Major cities also saw an increase, including:
- Braga: 16%
- Funchal: 14.3%
- Santarém: 10%
Lisbon remains the most expensive city for renting, with an average price of €22.3/m².
Price Rankings
Districts and Islands
Among the 17 districts and islands analyzed, prices rose in:
- Vila Real: 38.4%
- Coimbra: 19.9%
- Portalegre: 17.2%
Lisbon leads the ranking for the highest rental prices at €20.6/m², while the most economical rents can be found in Portalegre at €7.2/m².
Regional Insights
In April, all regions in Portugal saw a rise in rental prices, with the Algarve leading at 12%, followed by the Center at 11.2% and Alentejo at 10.4%. The Lisbon Metropolitan Area remains the most expensive at €19.9/m².
Idealista's Price Index Methodology
The Idealista price index is calculated based on rental listings, focusing on valid offers and excluding atypical listings. The final results are derived from the median of valid ads in each market.
For a comprehensive report, visit Idealista's full report.
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