The prices of houses for rent in the Algarve fell by 1,2% in a year, between July 2020 and July 2021. According to the price index of the idealista portal, at the end of July this year, renting a house in the region had a cost 9,7 euros per square meter (m2).
However, compared to the quarterly variation, the rental price increased by 4,6%.
The biggest drop in prices in the region was registered in Tavira (-7%), followed by Portimão (-6,6%), Faro (-2,3%), Loulé (-1,9%), Olhão (-1%) and Albufeira (-0,6%). On the other hand, prices only increased in Vila Real de Santo António (5,8%) and in Lagos (2,8%).
The most expensive municipality to rent a house is Loulé (11,1 euros/m2), followed by Lagos (10 euros/m2) and Albufeira (9,7 euros/m2). On the other hand, the cheapest are Olhão (7,7 euros/m2), Portimão (8,5 euros/m2) and Tavira (8,6 euros/m2).
At a national level, housing for rent registered a decrease of 4,7% in July this year, compared to June last year, standing at 10,9 euros/m2.
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