Person holding a key and a sign in shape of a house

Supply has soared by 55% but prices remain high

In the fourth quarter of 2023, the “stock” of Portuguese housing available to rent rose by 55%, compared to what was available in the same period of 2022,

“Some measures implemented in housing seem to be having an impact on the rental market, with a significant increase in the supply of homes for rent in Portugal. The restrictions on Local Accommodation, the end of the Non-Habitual Resident (NHR) regime and the reduction in taxes on rents may also be contributing to an increase in the availability of properties on the market,” explains Ruben Marques, spokesperson for Idealista.

However, he warns, “despite the current increase in supply, prices are still high and out of reach for the majority of Portuguese”.

According to idealista’s data, the supply of housing available to rent in Portugal has risen in 15 district capitals in the last year. Leading the list are Viseu (115%), Porto (113%), Braga (85%), Lisbon (63%), Castelo Branco (53%) and Guarda (50%) as the district capitals where the “stock” for renting a house has increased the most.

On the other hand, Bragança was the city where supply decreased the most (-16%), followed by Ponta Delgada (-13%), Funchal (-8%) and Faro (-1%), the only cities analyzed where “stock” decreased.

The city of Porto led the increase in the supply of houses for rent over the last twelve months, with a growth of 82%. This was followed by the districts of Braga (80%), Viseu (63%), Leiria (61%), Lisbon (56%), Castelo Branco (51%) and Viana do Castelo (50%).

On the other hand, there were decreases in the number of houses for rent in Guarda (-15%), São Miguel Island (-9%), Vila Real (-4%), Bragança (-4%), Portalegre (-3%) and Madeira Island (-2%).