However, for those interested, they are likely to know about the high real estate costs. However, is Portuguese renting really as expensive as it is claimed? To answer, we analyzed real estate advertisements in the main Portuguese cities. Check out our findings below.
How much is rent in Portugal
Undeniably, to understand rental values in Portugal, we will specifically look at the cost of 2-bedroom apartments (typology T2) for rent in three cities: Lisbon, Porto and Braga.
We will use the websites Idealista and Imovirtual, which bring together advertisements from various real estate agencies. Thus, the values found serve as a reference, and may vary from case to case.
Average rental cost in Lisbon
- Apartments advertised in the last 24 hours: 26 in total
- Price range: between €950 (rarity) and €6,000
- Average value found: 1,500 euros (R$ 8 thousand)
Lisbon have a great demand for rental properties, especially in the most central and touristic neighborhoods such as Baixa, Chiado, Avenida da Liberdade. The more central and modern the apartment, the more expensive it tends to be.
Average rental cost in Porto
- Recently advertised apartments: 18 total
- Price range: between €700 and €2,500
- Average value found: 1,000 euros (R$ 5.3 thousand)
Porto also attracts many tourists and foreign students interested in renting property, but the prices are still lower than Lisbon. Furnished apartments and suites are more expensive.
Avg. rental cost in Braga
- Announcements in the last 24 hours: 3
- Considering recent announcements: 10 in total
- Price range: €800 to €1,200
- Average value: 900 euros (R$ 4.8 thousand)
Braga doesn’t have as much demand for rent as Lisbon and Porto, hence the more affordable values. However, the availability of properties is also lower, and you need to be aware of new options.
How to rent a house in Portugal?
Renting property in Portugal requires some documents and payments:
- NIF: equivalent to CPF in Brazil
- Proven minimum income: via IRPF declaration or paycheck
- Security Deposit: deposit of 1 to 3 rentals for guarantee
- Advance Rental: Payment 2 to 3 months in advance
- Guarantor: Some real estate agents ask for it, others don’t
Where to look for a rental property?
The most used websites by the Portuguese to rent houses and apartments are:
- Idealista: largest real estate classifieds website in Portugal
- Imovirtual: Another great site in the segment, with thousands of options
- OLX: Popular ad site, good choice for smaller regions
- Casa Sapo: Search by integrating multiple ad sites
- REMAX, Era, Century21: traditional real estate websites
Tips for saving on rent
Some tips for paying less rent in Portugal:
- Rent for longer periods (6 months, 1 year), have discounts
- Negotiate value, including expenses such as condominium
- Avoid high tourism season (Jul-Aug) in Lisbon and Porto
- Give preference to apartments without integrated furniture
- Consider options a little further away from the centers
- In the interior and north, the values are significantly lower
Finally, I hope this information helps you better understand the prices and process of renting property in Portugal!