The prices of houses for rent in the Autonomous Region of Madeira increased by 5.7% in July compared to the previous month.
According to the idealista price index, renting a house in the region had a cost of 13.8 euros per square meter (euros/m2) at the end of July this year, taking into account the median value. The annual variation was 26.6%.
In Funchal, rents increased by 6.4% during this period, costing €14.2 per square meter. The annual variation was 28.9%.
At national level, housing for rent increased by 3.8% in July, standing at 15 euros/m2.
District capital cities.
The rental price in July rose in twelve district capitals, with Évora (8.1%) leading the list. Followed by Funchal (6.4%), Faro (6%), Aveiro (4.8%), Viseu (2.8%), Santarém (2.7%), Porto (2.4%), Setúbal (2.2%), Viana do Castelo (1.4%), Coimbra (1%), Castelo Branco (1%) and Lisbon (0.8%). On the other hand, prices decreased in Leiria (-6.9%) and Braga (-0.9%).
Lisbon continues to be the city where it is most expensive to rent a house: 20.1 euros/m2. Porto (15.7 euros/m2) and Funchal (14.2 euros/m2) occupy the second and third places, respectively. Followed by Évora (11.6 euros/m2), Faro (11.6 euros/m2), Aveiro (11.4 euros/m2), Setúbal (11 euros/m2), Coimbra (9.6 euros/m2) , Braga (8.2 euros/m2) and Viana do Castelo (8 euros/m2).
The cheapest cities are Castelo Branco (5.8 euros/m2), Viseu (6.3 euros/m2), Leiria (7.4 euros/m2) and Santarém (7.6 euros/m2).
Districts/Islands
Of the 17 districts and islands analysed, Viana do Castelo (10.6%) and Aveiro (8.7%) lead the rises in house prices for rent in July. Followed by Viseu (7.2%), Madeira Island (6.1%), Faro (4.3%), Vila Real (4.1%), Coimbra (3.6%), Lisbon (3. 4%) and Porto (3%). With increases of less than 3% are the districts of Leiria (2.8%), Setúbal (2.6%), Évora (2.1%), Braga (1.1%) and Santarém (0.7% ).
On the other hand, prices decreased in Portalegre (-3%), Castelo Branco (-1.4%) and Beja (-0.8%)
It should be noted that the ranking of the most expensive districts to rent a house is led by Lisbon (18.7 euros/m2), followed by the island of Madeira (13.9 euros/m2), Porto (13.8 euros/m2), Faro (13.4 euros/m2), Setúbal (11.8 euros/m2), Évora (10.1 euros/m2), Coimbra (9.5 euros/m2), Aveiro (9 euros/m2), Leiria (8 .9 euros/m2), Viana do Castelo (8.9 euros/m2) and Braga (8.4 euros/m2).
The cheapest prices are found in Portalegre (5.9 euros/m2), Castelo Branco (6.3 euros/m2), Viseu (6.4 euros/m2), Vila Real (6.5 euros/m2), Santarém (7.1 euros/m2) and Beja (8.1 euros/m2).
Regions
During the month of July, house prices for rent rose in all Portuguese regions with the exception of Alentejo where prices stabilized (0.4%). Leading the rises is the Autonomous Region of Madeira (5.7%), followed by the Algarve (4.3%), Área Metropolitana de Lisboa (3.5%), North (3.5%) and Center ( 3.3%).
The Metropolitan Area of Lisbon, with 17.9 euros/m2, continues to be the most expensive region, followed by the Autonomous Region of Madeira (13.8 euros/m2), Algarve (13.4 euros/m2) and North (12 .6 euros/m2). On the opposite side of the table are the Center (8.5 euros/m2) and Alentejo (9.4 euros/m2) which are the cheapest regions.
idealista property price index
In order to create the idealista real estate price index, the offer prices (based on built-up square meters) published by idealista advertisers are analyzed. Atypical advertisements and advertisements with off-market prices are excluded from the statistics.
We also included the “single-family houses” typology and discarded all the ads that are in our database and that have been without any kind of interaction by users for some time. The final result is obtained through the median of all valid advertisements in each market.
The full report can be found at:
https://www.idealista.pt/media/relatorios-preco-habitacao/arrendamento/