Lisbon vs Porto: The Rental Market Disparities Unveiled
Diário Imobiliário10 months ago
1000

Lisbon vs Porto: The Rental Market Disparities Unveiled

Economy
rental
lisbon
porto
housing
economy
Share this content:

Summary:

  • 400 euros difference in rent costs and tenant expectations in Lisbon and Porto

  • Lisbon's average rent decreased by 10% to 1,792 euros

  • Tenant spending intentions in Lisbon increased by 16.7%

  • Porto's rental prices rose by 11.1%, average rent now at 1,500 euros

  • European rental prices increased by 4.1%, tenant expectations rose by 19.1%

Rental Market Overview

In both Lisbon and Porto, there exists a notable difference of approximately 400 euros between rent costs and tenant expectations. Despite this similarity in figures, the cities are trending in different directions, as highlighted by the HousingAnywhere Rent Gap Monitor.

Lisbon's Rental Dynamics

According to the report from the European medium-term rental platform, Lisbon is witnessing a convergence between tenant expectations and market prices compared to last year. This shift is attributed to the city's gradual recovery from significant price hikes observed previously.

In the third quarter of 2024, the average cost of renting a furnished apartment in Lisbon was 1,792 euros, reflecting a 10% decrease from the previous year. Concurrently, there was a 16.7% increase in tenants' spending intentions, with an average willingness to pay of 1,400 euros. As a result, the gap between market value and tenant expectations has significantly narrowed from 800 euros last year to 392 euros now, indicating that tenants are becoming more aligned with market trends.

Porto's Rental Challenges

In contrast, in Porto, the difference between rental prices and tenant expectations stands at 401 euros, mirroring Lisbon's situation. However, the dynamics are markedly different. Rental prices continue to increase, with an 11.1% rise, making the average cost of a furnished apartment 1,500 euros. While tenants are also willing to pay more, with a 5.7% increase in their expectations, it has not been sufficient to keep pace with the rising rents. Tenants anticipated finding apartments for around 1,099 euros on HousingAnywhere, leading to a nearly 30% increase in the gap compared to the 310 euros recorded last year.

European Rental Trends

Across Europe, rental prices have risen by an average of 4.1% compared to the previous year. Tenants have adjusted their spending expectations, increasing them by 19.1%. This adjustment has resulted in a reduction of the gap between actual prices and tenant expectations, dropping from 413 euros last year to 305 euros now.

The analysis also reveals significant disparities among cities. For instance, in Rome, the gap is even larger, with a 1,000 euro difference, as the average rent is 2,500 euros, while tenants expect to spend only 1,500 euros. Conversely, cities like Vienna and Barcelona show much smaller discrepancies, with prices only 100 euros above expectations.

Comments

0

Join Our Community

Sign up to share your thoughts, engage with others, and become part of our growing community.

No comments yet

Be the first to share your thoughts and start the conversation!

Newsletter

Subscribe our newsletter to receive our daily digested news

Join our newsletter and get the latest updates delivered straight to your inbox.

OR
PortugalToday.news logo

PortugalToday.news

Get PortugalToday.news on your phone!

Other Latest News

Marques Mendes and André Ventura: Clashing Visions for Portugal's Presidency

Marques Mendes and André Ventura: Clashing Visions for Portugal's Presidency

2 hours ago
830
André Ventura Confronted by Immigrants at Human Rights Protest: 'Portugal Can't Be an Open Bar'

André Ventura Confronted by Immigrants at Human Rights Protest: 'Portugal Can't Be an Open Bar'

7 hours ago
960
Step Back in Time: Lisbon's Medieval Fair Returns to Marvila with Free Entry and Spectacular Shows!

Step Back in Time: Lisbon's Medieval Fair Returns to Marvila with Free Entry and Spectacular Shows!

5 hours ago
860
New Campervan Hub in Marmelete Boosts Algarve's Hidden Gems for Sustainable Tourism

New Campervan Hub in Marmelete Boosts Algarve's Hidden Gems for Sustainable Tourism

3 hours ago
850
Yellow Heat Warning Extended to Northern Coast and Porto Santo in Madeira

Yellow Heat Warning Extended to Northern Coast and Porto Santo in Madeira

11 hours ago
970
New Maternal-Child Center Set for 2026 in Almada: Urgent Care Upgrades Coming Soon

New Maternal-Child Center Set for 2026 in Almada: Urgent Care Upgrades Coming Soon

10 hours ago
880
Lisbon's Groundbreaking Literary Festival Empowers Children and Teens to Take the Stage

Lisbon's Groundbreaking Literary Festival Empowers Children and Teens to Take the Stage

15 hours ago
850
Madeleine McCann Suspect Freed: German Authorities Release Prime Suspect After Prison Sentence

Madeleine McCann Suspect Freed: German Authorities Release Prime Suspect After Prison Sentence

12 hours ago
940
Government's Bold Move: High-Performance Centers to Attract Obstetricians and Save Emergency Services

Government's Bold Move: High-Performance Centers to Attract Obstetricians and Save Emergency Services

16 hours ago
940
Inexperienced Leader at Garcia de Orta Hospital: Who is Pedro Azevedo and Why the Crisis Persists?

Inexperienced Leader at Garcia de Orta Hospital: Who is Pedro Azevedo and Why the Crisis Persists?

17 hours ago
860
Kairat Almaty's Epic 6928km Journey to Lisbon Sets Champions League Record

Kairat Almaty's Epic 6928km Journey to Lisbon Sets Champions League Record

23 hours ago
900
Unraveling the Mystery: Why Are Orcas 'Attacking' Boats Off Portugal's Coast?

Unraveling the Mystery: Why Are Orcas 'Attacking' Boats Off Portugal's Coast?

18 hours ago
1000
Pedro Costa Malheiro Aims to Restore Pride to Lisbon's Olivais District in Upcoming Election

Pedro Costa Malheiro Aims to Restore Pride to Lisbon's Olivais District in Upcoming Election

1 day ago
860
Mysterious Pen Drive Scandal: How Did Sensitive Data End Up with Portugal's Former PM?

Mysterious Pen Drive Scandal: How Did Sensitive Data End Up with Portugal's Former PM?

1 day ago
850
Experience Unforgettable Sunsets and Live Music at Lisbon's Iconic Rooftop Bar This September

Experience Unforgettable Sunsets and Live Music at Lisbon's Iconic Rooftop Bar This September

1 day ago
830
Why Americans Are Flocking to Portugal: Safety, Healthcare, and EU Freedom Beckon

Why Americans Are Flocking to Portugal: Safety, Healthcare, and EU Freedom Beckon

21 hours ago
960
Algarve 2030: €6M EU Fund Boosts Climate Resilience in Portugal's Vulnerable Region

Algarve 2030: €6M EU Fund Boosts Climate Resilience in Portugal's Vulnerable Region

1 day ago
970
Sephora's First Street Store in Lisbon Opens in Historic Baixa District

Sephora's First Street Store in Lisbon Opens in Historic Baixa District

1 day ago
930
Tourist Trains Collide in Algarve: 14 Injured, Including Minor, in Scenic Beach Area

Tourist Trains Collide in Algarve: 14 Injured, Including Minor, in Scenic Beach Area

1 day ago
1070
André Ventura Shakes Up Portuguese Politics with Presidential Bid Announcement

André Ventura Shakes Up Portuguese Politics with Presidential Bid Announcement

1 day ago
1010
Orcas Sink Tourist Yacht Off Portugal's Coast in Dramatic Attack Caught on Video

Orcas Sink Tourist Yacht Off Portugal's Coast in Dramatic Attack Caught on Video

1 day ago
1220
Massive Drug Bust in Algarve: Over 700 Doses Seized in Just One Week

Massive Drug Bust in Algarve: Over 700 Doses Seized in Just One Week

2 days ago
930
Portugal's Government Pushes for Major Labor Law Overhaul with No Red Lines in Negotiations

Portugal's Government Pushes for Major Labor Law Overhaul with No Red Lines in Negotiations

2 days ago
850
InDireita Street Fest Celebrates First Anniversary with Fifth Edition in Portimão's Historic Heart

InDireita Street Fest Celebrates First Anniversary with Fifth Edition in Portimão's Historic Heart

2 days ago
950