Property for rent in Portugal
The coronavirus pandemic continues to have its effect on the global property market and we've already heard that rental prices will see slight rises in Portugal in 2022. But what exactly will these price rises look like? How much will rent go up by in Portugal?
The COVID-19 pandemic is still very much amongst us, but thanks to the high vaccination rate and the use of the digital certificates, people have more and more freedom to pack their bags and go on holiday.
Housing rental prices in Portugal are set to rise again in 2022, after remaining unchanged in 2021, but after rising between 2016 and 2020. This, however, will be a slight increase, bearing in mind that, excluding housing, the inflation rate was 0.29% in July.
Renting a property in Portugal is no longer as quick. There are now fewer homes advertised that take between 1 and 6 days to find a tenant. In February 2020, around 43% of homes put up for rent in Portugal remained on the market for less than 7 days.
Milan is the capital of Southern Europe where the effort rate of families to pay the rent of a house is the highest: 42,6%. A figure higher than that registered, for example, in Madrid (36.3%) and Lisbon (35.8%). Another Portuguese city, Setúbal, is in second place in this ranking (40.6%).
Rental prices in Portugal continue to rise in Portugal in 2021 in spite of the COVID-19 pandemic, although at a slower pace than in recent months. How much does it cost to rent a house in the country's two main cities? What are the cheapest and most expensive areas to rent in Lisbon and Porto?
The price of houses for rent has been falling in Portugal during the pandemic, with a 3% drop in average national terms over the last year.
In the midst of the COVID-19 pandemic, how is the rental market in Portugal behaving in terms of prices? At the start of 2021, rental prices in Portugal fell 0.4% in January, settling at 11.2 euros per m2.
With the recent worsening of the COVID-19 pandemic, the Government in Portugal has announced that it will broaden the criteria for allocating support to renters who need assistance in 2021 due to the COVID-19 pandemic after losing income.
Buying a house is never an easy decision, and if you're not yet ready to take the big step of buying property in Portugal, a lease option could just be the perfect chance to get a taste of your future home before you invest.
There is more help on the way for renters in Portugal in 2021, as MPs have approved the extension of the exceptional regime for late payment of rent in the housing market due to the COVID-19 pandemic where residential tenants get assistance with the rent they have to pay.
The Portuguese government has decided once again to extend the law that bans the termination of rental contracts which are due to expire to continue to protect families during the coronavirus pandemic in Portugal.