Rental prices in the Autonomous Region of Madeira showed an increase of 7% in April compared to the previous month. According to Estate Agent, Idealista’s price index, renting a house in the region had a cost of 11.8 euros per square metre (euros/m2) at the end of April this year.
In Funchal, rents showed an increase of 3.5% during this period, bringing the price per square metre to 12.5 euros.
Nationally, housing for rent rose by 1.6% in April, standing at 13.9 euros/m2.
District capital cities
The rental price in April rose in six district capitals, with Leiria (13.2%) leading the list. This is followed by Coimbra (5.3%), Funchal (3.5%), Porto (1.4%), Faro (0.9%) and Braga (0.8%). In Castelo Branco (0.2%), Santarém (0.1%) and Lisbon (0%) prices remained stable. On the other hand, prices fell in Viana do Castelo (-6.1%), Viseu (-6%), Aveiro (-4.5%) and Setúbal (-2.3%).
Lisbon continues to be the most expensive city to rent a house: 19.2 euros/m2. Porto (15 euros/m2) and Funchal (12.5 euros/m2) occupy the second and third places, respectively. This is followed by Faro (10.3 euros/m2), Setúbal (10.1 euros/m2), Aveiro (9.7 euros/m2), Coimbra (8.9 euros/m2), Leiria (8.7 euros/m2), Braga (8.1 euros/m2) and Viana do Castelo (7.5 euros/m2).
The cheapest cities are Castelo Branco (5.7 euros/m2), Viseu (6.4 euros/m2) and Santarém (6.9 euros/m2).
Districts/Islands
Of the 16 districts and islands analysed, Coimbra (8.3%) and Madeira Island (7.2%) showed the biggest rental increases in April. This is followed by Leiria (3.7%), Castelo Branco (3.2%), Braga (2.5%), Porto (1.9%), Setúbal (1.5%), Faro (1.3%), Évora (1.3%) and Lisbon (0.8%).
In Vila Real (-0.1%) and Santarém (-0.3%), prices remained stable in April. On the other hand, prices fell in Viseu (-10%), Viana do Castelo (-4.9%), Aveiro (-3.9%) and Portalegre (-3.3%)
It should be noted that the ranking of the most expensive districts to rent a house is led by Lisbon (17.4 euros/m2), followed by Porto (13.1 euros/m2), Faro (12.1 euros/m2), Madeira Island (11.9 euros/m2), Setúbal (11.1 euros/m2), Leira (8.8 euros/m2), Évora (8.7 euros/m2), Coimbra (8.6 euros/m2), Aveiro (8.2 euros/m2), Braga (8.1 euros/m2), Viana do Castelo (7.8 euros/m2) and Santarém (7 euros/m2).
The cheapest prices are in Vila Real (5.5 euros/m2), Viseu (5.7 euros/m2), Portalegre (5.7 euros/m2) and Castelo Branco (6.3 euros/m2).
Regions
During April, property rents rose in all Portuguese regions. The highest rise was seen in the Autonomous Region of Madeira (7%), followed by the Alentejo (3.3%), Centre (2.2%), North (1.9%), Algarve (1.3%), Autonomous Region of the Azores (1.2%) and Lisbon Metropolitan Area (0.9%).
The Lisbon Metropolitan Area, with 16.6 euros/m2, remains the most expensive region, followed by the Algarve (12.1 euros/m2), North (11.9 euros/m2) and Autonomous Region of Madeira (11.8 euros/m2). On the opposite side of the table are the Centre (8.1 euros/m2), the Autonomous Region of the Azores (8.2 euros/m2) and the Alentejo (9 euros/m2) which remain the cheapest regions to live in.
Samantha Gannon
info at madeira-weekly.com
