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Lisbon goes against Europe and records a greater drop in housing rents

In the second quarter of 2024, apartment rents grew by 4.3% in Europe, which shows that prices accelerated (in the first quarter, they had grown by 3.8%). Here, Porto followed the European trend, but Lisbon did not. In the capital, rents fell by 25% (more than at the start of the year), despite it still being one of the most expensive cities in Europe to rent an apartment, shows a survey of the International Rent Index by city by HousingAnywhere.

The monitoring carried out by the medium-term rental platform (essentially, from three to 12 months) takes into account the price variations of rooms, apartments between T1 (57% of the total apartments analyzed) and T3 ( 12% of the total) and studios advertised on the platform that received interest from potential tenants. It should be noted that the value of the advertisement does not mean that the deal was closed for the same price.

79,043 properties were analyzed in 28 European cities in 12 countries. The statistical survey does not mention how many advertisements were analyzed in Portugal.

Lisbon has the biggest price drop

Lisbon stands out in the world of apartments. It is the seventh city with the highest incomes in Europe (on average 1800 euros) along with Florence. Despite the 25% drop in the second quarter of 2024, compared to the same period last yearrepresents an increase of 100 euros compared to the first quarter of the year.

In apartments, rents are highest in Amsterdam, Rome and The Hague (2388, 2100 and 2000 euros, respectively, with variations of 6.1%, 10.5% and 17.6%).

Overall, of the 28 cities analyzed, prices fell in only 13, with southern European cities continuing to drive up global prices. If Lisbon is the exception, the same cannot be said of Porto, which follows the European trend. In ‘Invicta’ apartment rents increased by 3.2%, to 1445 euros, the eighth lowest value.

Apartments in Turin, Budapest and Athens continue to be more affordable in absolute terms, with rents of 1000, 970 and 950 euros, respectively.

In the case of rooms, Lisbon and Porto are very close in the analysis carried out by HousingAnywhere. Porto registered the fourth lowest price (450 euros, 5.9% more than in the first quarter of 2024) and Lisbon the sixth lowest price (550 euros, 3.5% less), along with Madrid and Helsinki.

In rooms, the platform highlights that “Dutch and German cities continue to be the cities with the highest prices for room rentals in this study†, but the data shows a substantial difference between the leading city , Amsterdam, with an average of 1007 euros per room, and the second city, The Hague (875 euros).

In relation to studios, Housing Anywhere reminds us that “due to the scarcity of supply, as it is a less common type of property, studio prices are more volatile†. In Lisbon prices rose 10.5%, to an average of 1050 euros, and in Porto they fell 3.6%, to 950 euros.

Source

Francesco Giganti

Journalist, social media, blogger and pop culture obsessive in newshubpro

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