Alarming Trend on The Rental Market Continues To Send Shockwaves
House rental prices in Madeira experienced yet another breathtaking surge of 4.8% in January when compared to December 2023. To illustrate the impact more tangibly:
At the end of January, the average cost of renting a house in the region was 14.3 euros/m2, reflecting an annual change of 31.6%. In Funchal, the regional capital, the rental price stabilized at 14.5 euros/m2, with an annual variation of 24.2%.
Rental Prices Continue To Rise Nationwide
Nationally, the trend continued with rental housing prices rising by 1.8% in January, reaching an average of 15.8 euros/m2. Among the district capitals, Leiria - located between Lisbon and Porto - experienced the highest increase in rental prices, recording a 4.3% rise during the same period. When it comes to the most expensive cities for renting, Lisbon takes the lead at 21.4 euros/m2, followed by Porto at 16.9 euros/m2 and Funchal at 14.5 euros/m2. On the flip side, Santarem, Leiria, and Evora emerge as the most affordable cities, with rental prices ranging from 7.7 to 10.7 euros/m2.
Madeira Second Most Expensive Place Right After Lisbon
Breaking down the regions, the Lisbon Metropolitan Area maintains its status as the most expensive, closely followed by Madeira, the North, and the Algarve. Meanwhile, the Azores, the Center, and the Alentejo emerge as the most budget-friendly regions for house rentals. These insights provide a comprehensive overview of the evolving dynamics in Portugal's housing rental market.
Source: JM-Madeira
Care for a share?
Comments