Portugal Rental Prices by City: Q2 2026

At a glance

Sample counts are unavailable for rent and area observations. These are descriptive benchmarks, not statistically confident rankings.

What were renters agreeing to in completed leases?

Cascais had the highest observed contracted monthly rent, at €1,774. Lisboa was €1,650, Porto €1,302 and Coimbra €827.

Rent per square meter changes the view. Lisboa led at €20/m², followed by Cascais at €19. Porto was €16. Braga—not Coimbra—had the lowest contracted unit cost, at €10/m²; Coimbra was €12/m².

Within these observed completed-lease benchmarks, Porto was lower than Lisboa both monthly and per square meter. That is useful market context, not a promise about a particular home.

Do renters sign below the asking price?

A lower contracted market average does not tell us how many individual leases were signed below their asking price. That would require each property’s asking price to be linked to its final signed rent; those matched records are not available here.

The table shows the percentage difference between Q2 contracted and asking monthly averages for all 13 focus markets. A negative percentage means the contracted average was lower; a positive percentage means it was higher. Differences in the homes offered and leased can affect this gap, so it should not be treated as a typical negotiated discount or a target for an offer.

Q2 didn’t move in one direction

A national rental narrative can hide substantial differences between municipalities.

Vila Nova de Gaia increased from €1,075 in Q1 to €1,246 in Q2, a 15.9% change calculated by AGTP. Setúbal increased from €1,136 to €1,261, or 11.0%. Matosinhos moved from €1,276 to €1,164, a decline of 8.8%, while Coimbra moved from €901 to €827, a decline of 8.2%. Cascais was little changed, from €1,761 to €1,774. Lisboa increased modestly from €1,621 to €1,650.

What does an apartment with your bedroom count cost?

Choose the apartment size that fits your household. The table compares Q2 completed-lease benchmarks across all 13 focus markets, grouped by region. It opens with two bedrooms (T2); changing the selection updates rent and area figures together.

Property type changes the comparison

In Lisboa, completed apartment leases averaged €1,646 per month, 89 m² and €20/m². Houses averaged €2,094, 132 m² and €17/m². The house observation was €448 higher each month, but it also represented 43 m² more average space. That is not a “house premium”; it is a reminder that the renter is comparing materially different homes.

Missing segment values are shown as “Not available”; no values are inferred from another market or property type.

What should a renter do with this information?

1. Set your monthly ceiling.Decide what your household can comfortably commit to before listings begin moving the target.
2. Define the home you actually need.Choose the relevant property type and bedroom count.
3. Compare adjacent municipalities.Your practical choice may be between nearby markets rather than Portugal’s two largest cities.
4. Compare rent/m² as well as monthly rent.The lower bill may buy less space—or the higher one may partly reflect a larger home.
5. Check contracted benchmarks alongside current listings.They answer different questions and give you a fuller frame for the search.
6. Read observed inventory cautiously.It shows homes captured by the dataset, not every rental in the municipality.
7. Treat averages as benchmarks, not valuations.Exact location, condition, furnishing, parking and lease terms can materially change an individual home.

Explore the rental market

Methodology and sources

Rental Intelligence uses data from Confidencial Imobiliário’s SIR — Residential Information System. This edition principally covers Q2 2026. Asking observations describe homes offered for rent; contracted observations describe completed rental agreements. The two series are not matched transactions and are not used to calculate an aggregate negotiation discount.

Monthly rent provides a household-budget benchmark. Rent per square meter supports comparisons across different property mixes, while average private area provides size context. Quarterly and annual observations remain separate. AGTP calculations used here are like-for-like Q1-to-Q2 contracted changes, the market-average gap calculated as (contracted monthly average ÷ asking monthly average − 1) × 100, other direct arithmetic comparisons from approved Q2 values and nominal 2020-to-2025 changes using annual contracted data.

Missing values are not interpolated or replaced with zero. Rent and area sample counts are unavailable in the certified bounded publication object, so comparisons are descriptive. Observed inventory refers to homes captured by the dataset during the period and is not a census of total rental supply.

Source observations remain in euros and square meters. Any website currency or area conversion uses AGTP’s shared Market Intelligence presentation system. These figures are market benchmarks, not appraisals, property-specific valuations, legal rent determinations, guarantees or investment advice.