The prices of houses for rent in the Algarve rose 7,6% in 2021, comparing December last year with the same month in 2020.
According to the price index of the Idealista portal, at the end of December 2021, renting a house in the region «had a cost of 9,8 euros per square meter (m2)'. In relation to the quarterly variation, «the lease showed an increase of 1,6%».
The only drop in prices in the region in 2021 was registered in Albufeira (-2,2%).
In the opposite direction, prices rose in Lagoa (14,8%), Loulé (13,5%), Faro (12,2%), Tavira (9,9%), Olhão (9%), Silves (7,3%), Portimão (6,4%), Lagos (5,8%) and Vila Real de Santo António (2,6%)
The most expensive municipality to rent a house is Loulé (12,2 euros/m2), followed by Lagos (9,7 euros/m2) and Lagoa (9,2 euros/m)2).
On the other hand, the cheapest are Vila Real de Santo António (8,6 euros/m2), Olhão (8,6 euros/m2) and Portimão (8,5 euros/m2).
At national level, housing for rent decreased by 4,3% in 2021, standing at 10,7 euros/m2.
During the last year, the prices of houses for rent fell in the Autonomous Region of the Azores (-8,7%), in the Metropolitan Area of Lisbon (-4%) and in the North (-1,7%).
On the other hand, it was in the Alentejo where there was a greater increase in prices (9,5%), followed by the Algarve (7,6%), Autonomous Region of Madeira (6,6%) and Center (4,9% ).
The Metropolitan Area of Lisbon, with 12,4 euros/m2, remains the most expensive region, followed by the Algarve (9,8 euros/m2), North (9,1 euros/m2) and Autonomous Region of Madeira (8,6 euros/m2).
On the opposite side of the table is the Center (6,5 euros/m2), the Autonomous Region of the Azores (6,6 euros/m2) and Alentejo (7 euros/m2) which are the cheapest regions.
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