The reports notes that in Lisbon, the rent price for a room went up by 5,3%, while in Porto the registered rise reached 5,9%. Besides any “stagnation of room prices”, in Europe, when it comes to both Portuguese metropoles the prices “are every time less affordable.” HousingAnywhere says that the average price for renting a room in Lisbon may reach 600€, “5.3% higher than in the last quarter and up to 33.3% higher compared to a year ago.” In Porto, the average of room price is lower, 450€, but it was registered “a 5.9% quarterly and 12.5% yearly increase.”

Even though the prices became less affordable, the “Portuguese housing market seems to be in a temporary equilibrium after last edition’s steep increases for apartments.” However, Lisbon is still the second most expensive city to rent an apartment in Europe, of all the cities that were part of the International Rent Index by City carried out by HousingAnywhere. On average, to rent an apartment in Lisbon will cost 2000€ a month, besides the reduction in “registers -16.7% quarter-on-quarter (QoQ) and -8.7% year-on-year (YoY) decreases.”

When it comes to studios, Porto opens the top 5 of European cities with the most expensive rents for studios. Currently, the “median price for a studio in Porto is 1,340 euros”, while registering an increase of 36% QoQ prices. Porto was the city, in Europe, with the biggest increase in studio rent prices, according to HousingAnywhere

HousingAnywhere mentions in the 21st edition of International Rent Index by City that it is registered as “an average quarter-on-quarter (QoQ) price increase across all property types analysed at 3.1%.” This means that “the average year-on-year (YoY) price increase across all property types is still 9%, only slightly lower compared to last edition’s YoY (9.6%).”

Djordy Seelmann, CEO of HousingAnywhere, quoted in the report, says that “the moderate slowdown of rent price increases at the beginning of the year may have sparked hopes, but caution persisted due to Europe’s impending peak mobility season and persisting supply shortages.” Being necessary “to develop and establish a sustainable pipeline of rental housing.”

To carry out the study, “HousingAnywhere analysed 74,594 properties that were listed and received interest from potential tenants on the platform in the past year.”

Author

Deeply in love with music and with a guilty pleasure in criminal cases, Bruno G. Santos decided to study Journalism and Communication, hoping to combine both passions into writing. The journalist is also a passionate traveller who likes to write about other cultures and discover the various hidden gems from Portugal and the world. Press card: 8463. 

Bruno G. Santos