Imovirtual Barometer: Portugal’s average rent rose to €1,450 in Jan 2026 (+16% YoY, +7.4% MoM). Strong pressure in the South and hotspots in Lisbon, Madeira and Porto.
Portugal’s real estate rentals market continued to heat up in January 2026, with the national average rent reaching a new record of €1,450, the Imovirtual Barometer shows. That figure represents a 16% increase compared with January 2025 (€1,250) and a 7.4% rise from December 2025 (€1,350), underlining persistent upward pressure across much of the country.
Imovirtual describes the trend as a broadly generalized rise with “few signs of slowing down,” as many districts record monthly and annual increases.
Regional snapshot
• National: €1,450 (Jan 2026) — +7.4% month-on-month, +16% year-on-year.
• North: regional average €800 — unchanged month-to-month, +6.7% YoY. Porto leads the North at €1,150 (+4.5% MoM and YoY), Braga €950 (+5.6% YoY), Aveiro €900 (stable), Viana do Castelo €800 (stable). Vila Real and Viseu show notable YoY gains (to €600 and €700 respectively), while Bragança fell to €550 in January (-15.4% MoM) but remains +15.8% above January 2025.
• Centre: regional average €800 — +5.3% YoY. Lisbon remains the most expensive district in the country at €1,800 (+4% MoM, +5.9% YoY). Coimbra is €800 (+11.1% YoY), Santarém €800 (+1.3% MoM, +6.7% YoY). Leiria dipped to €850 (-5.6% MoM) but is still ahead year-on-year (+6.3%). Guarda shows volatility: up to €490 in January (+8.9% MoM) yet 23.4% below its January 2025 level.
• South: pressure is strongest here — regional average €1,200 (+9.1% MoM, +20% YoY). Évora (€1,200) and Setúbal (€1,250) both recorded monthly and annual rises, tightening the extended Lisbon metropolitan market. Faro remains a premium district at €1,300 (stable MoM, +8.3% YoY). Portalegre rose to €610 (+10.9% MoM), while Beja eased to €750 (-6.3% MoM) but remains up annually.
• Autonomous regions: average falls to €850 after strong increases in 2025, though pressure remains in pockets. Madeira surged to €1,700 (+21.4% MoM, +13.3% YoY). São Miguel recorded a dramatic YoY rise to €1,200 (+50% YoY), while Terceira sits at €700 (stable MoM, -12.5% YoY).What this means for renters and investors
Rising averages and concentrated pressure in southern districts, Lisbon, Porto and parts of the autonomous regions point to continued competition for rental stock. Renters in high-demand districts face steeper prices and potential affordability challenges, while investors may see strengthening yields in pressured markets — though regional volatility (for example, in Guarda or Bragança) highlights the uneven nature of the market.
The Imovirtual Barometer’s January 2026 readings confirm a real estate rentals market still on the upswing across Portugal, with the South and several urban centers driving national gains. Stakeholders — tenants, landlords and policymakers — will likely continue watching supply-side signals and policy responses as the year progresses.
