Prices of houses for rent in the Algarve fell by an average of 2.5% in October, compared to the previous month.
According to the idealista price index , renting a house cost a median average of €13.2 per square metre at the end of October this year. In relation to the quarterly variation, the decrease was 3.3% and the annual variation showed an increase of 18.6%.
In October, prices in the region fell in Loulé (-3.4%), Albufeira (-3.3%), Tavira (-3%) and Vila Real de Santo António (-1.5%). However, they rose in Olhão (1%), Portimão (0.8%) and Lagos (0.5%). In Faro, prices remained stable.
The most expensive municipality to rent a house is Loulé (15.8 euros/m2), followed by Lagos (13.9 euros/m2), Albufeira (13 euros/m2), Lagoa (12.9 euros/m2), Faro ( 12.5 euros/m2) and Portimão (12.3 euros/m2).
The most economical are Vila Real de Santo António (10.4 euros/m2), Silves (11 euros/m2), Tavira (11.1 euros/m2) and Olhão (11.5 euros/m2).
At a national level, the price of housing for rent remained stable during the same period, standing at 15.3 euros/m2.
