Rent a house in the Algarve has become cheaper in the last year

The biggest drop in prices was registered in Tavira

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.