According to the price index provided by idealista, renting a house in the Algarve cost, on average, 14.3 euros per square meter (euros/m²) at the end of December last year 2024, considering the median value. Compared to the previous quarter, there was a drop of 2.3%, but the general trend over the last year has been upward in several municipalities.

Cities such as Albufeira and Faro recorded an increase of 13.9%, while Vila Real de Santo António rose 13.2% and Silves 10.3%. In Olhão and Portimão, the increase was more moderate, at 2.7%, while Lagos recorded an increase of 1.8%. Loulé remained practically stable, with a slight variation of 0.3%. On the other hand, Lagoa stood out for the 6.9% drop in rental prices.

Currently, Loulé is the most expensive municipality to rent a house, with average prices of 16.3 euros/m², reports The Portugal News. Next come Albufeira (15 euros/m²), Tavira (14.6 euros/m²), Faro (14.1 euros/m²) and Lagos (13.7 euros/m²). Portimão and Silves present values ​​of 12.9 and 12.6 euros/m², respectively. Among the most economical are Olhão (11.5 euros/m²), Vila Real de Santo António (11.7 euros/m²) and Lagoa (12.3 euros/m²).