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
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:
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.
The 20 most expensive places to rent a house in Portugal in the 1st quarter of 2022 showing the average price in euros/m2:
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