Madeira is among the most expensive regions in Portugal for rental housing, with properties advertised at an average of €22 per square metre per month, according to the latest data from Imovirtual.
The figures, based on apartment and villa listings published during the past three months, place Madeira level with the Algarve and only €1 per square metre below Porto, where the average stands at €23.
Lisbon remains the country’s most expensive rental market at €27 per square metre, followed by Porto at €23, Madeira and the Algarve at €22, and Setúbal at €20.
With a national average of €23 per square metre per month, Madeira is just €1 below that figure. However, the comparison reveals a considerable divide between the Region and much of mainland Portugal, particularly the inland districts.
Guarda has the country’s lowest advertised rental price, at €8 per square metre per month. Castelo Branco, Vila Real and Viseu each record an average of €10, while Leiria and Santarém stand at €12. In Braga and Beja, the average is €15 per square metre.
This means that renting a home in Madeira costs, on average, 2.75 times more per square metre than in Guarda—a difference of €14 per square metre each month.
The figures also demonstrate Madeira’s position among Portugal’s highest-value rental markets. The Region matches the Algarve, another area affected by strong tourism demand, and exceeds the prices recorded in Setúbal and the principal inland districts.
According to Imovirtual, the highest rental values are concentrated in urban centres and regions experiencing greater tourism pressure. Lisbon, Porto, Madeira and the Algarve form the country’s most expensive group, with advertised prices ranging from €22 to €27 per square metre.
Imovirtual says that examining prices per square metre provides a more accurate comparison of housing costs between different areas, as it prevents variations in property size from distorting the figures.
“The price per square metre allows us to understand the true cost of renting much more accurately than the monthly rent,” said Sylvia Bozzo, Marketing Manager at Imovirtual.
She added that location continues to be one of the factors with the greatest influence on the amount tenants pay for an equivalent amount of living space.
Samantha Gannon
info at madeira-weekly.com
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