Housing rents rose 9.2% to a national average of five euros per square meter in the first six months of the year.
Owning a home in Portugal is becoming increasingly expensive, both for buyers and renters. Even so, there is currently one option that is more advantageous than the other. The value of rents for less than 17 years would be enough to pay for the sale price of a house. In Lisbon, it will be necessary to wait a few more years, around 22 years, and in Porto, 16.83 years of rent will be enough to pay for the value of the house.
Housing rents rose 9.2% to a national average of five euros per square meter (m2) in the first six months of the year—in this article, you will find municipalities (and parishes) where rents are most expensive. The sale price, in turn, stood at 1,011 euros per m2 in the same period of 2019.
According to calculations by Jornal de Negócios, buying a 100 m2 house costs a median value of 101,100 euros, and at least 500 euros will be needed to pay the monthly rent for a house of the same size. This means that, after 16.85 years, the sale price would have been paid off by the equivalent amount paid by a tenant.
The newspaper's calculations only take into account the sale price of a house and do not consider mortgage costs, taxes, insurance, or condominium or repair costs.
source: idealistanews