Prices for renting a house in the Algarve have dropped in the last year

Renting a house in the Algarve dropped the price by 0,6% in one year, according to data for August 2021, compared to the same month last year. The biggest drop in prices was registered in Tavira, in the opposite direction, the municipality in which they rose the most was in Olhão.

According to a study by the Idealista portal, at the end of August, renting a house in the region had a cost of 9,8 euros per square meter. In relation to the quarterly variation, leasing increased by 5,6%.

The biggest drop in prices in the region was registered in Tavira (-7,6%), followed by Portimão (-7,5%).

In the opposite direction, prices only increased in Olhão (10,1%), Albufeira (7,7%), Vila Real de Santo António (6,7%), Loulé (3,8%), Lagos (1,9 %) and Faro (0,4%).

The most expensive municipality to rent a house is Loulé (11,7 euros/m²), followed by Lagos (10,2 euros/m²) and Albufeira (9,9 euros/m2).

On the other hand, the cheapest are Portimão (8,4 euros/m²), Tavira (8,5 euros/m2) and Olhão (8,7 euros/m2).

Nationally, renting housing registered a decrease of 4,9% in August this year, standing at 10,9 euros per square meter.