Gross rental yields in Portugal: Lisbon and 5 other cities

The average gross rental yield in Portugal stands at 5.64% (2023, Q3).

  • Lisbon
  • Porto
  • Faro
  • Aveiro
  • Braga
  • Setubal
  Last Updated: Aug. 18, 2023
LISBON - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Lisbon  
Studio €299,900 €1,375 5.50%
1-Bedroom €380,000 €1,500 4.74%
2-Bedroom €420,000 €1,970 5.63%
3-Bedroom €640,000 €2,500 4.69%
4+Bedroom €898,000 €3,700 4.94%
Cascais      
Studio €287,500 €1,200 5.01%
1-Bedroom €380,000 €1,500 4.74%
2-Bedroom €385,000 €2,200 6.86%
3-Bedroom €650,000 €3,000 5.54%
4+Bedroom €1,085,700 €5,500 6.08%
Sintra  
1-Bedroom €160,000 €850 6.38%
2-Bedroom €185,000 €1,125 7.30%
3-Bedroom €245,000 €1,500 7.35%
4+Bedroom €315,000 €1,800 6.86%
Oeiras  
1-Bedroom €270,000 €1,275 5.67%
2-Bedroom €395,000 €1,500 4.56%
3-Bedroom €610,000 €2,300 4.52%
Lisbon avg. Rental Yields 5.67%
PORTO - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Porto  
Studio €235,000 €1,000 5.11%
1-Bedroom €235,000 €1,300 6.64%
2-Bedroom €325,000 €1,575 5.82%
3-Bedroom €459,000 €1,950 5.10%
4+Bedroom €650,000 €2,150 3.97%
Vila Nova de Gaia  
1-Bedroom €185,000 €950 6.16%
2-Bedroom €252,500 €1,225 5.82%
3-Bedroom €350,000 €1,800 6.17%
Matosinhos  
1-Bedroom €228,000 €1,000 5.26%
2-Bedroom €330,000 €1,500 5.45%
3-Bedroom €454,500 €1,850 4.88%
Porto avg. Rental Yields 5.49%
FARO - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Faro (all locations)  
Studio €160,750 €800 5.97%
1-Bedroom €235,000 €950 4.85%
2-Bedroom €345,000 €1,250 4.35%
3-Bedroom €395,000 €1,700 5.16%
Faro avg. Rental Yields 5.08%
AVEIRO - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Aveiro (all locations)  
Studio €162,000 €750 5.56%
1-Bedroom €190,000 €1,000 6.32%
2-Bedroom €210,000 €1,100 6.29%
Aveiro avg. Rental Yields 6.05%
BRAGA - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Braga (all locations)  
Studio €142,500 €600 5.05%
1-Bedroom €160,000 €750 5.63%
2-Bedroom €200,000 €950 5.70%
3-Bedroom €241,000 €1,000 4.98%
4+Bedroom €272,500 €1,250 5.50%
Braga avg. Rental Yields 5.37%
SETUBAL - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Setubal (all locations)  
2-Bedroom €155,000 €920 7.12%
3-Bedroom €265,000 €1,150 5.21%
Setubal avg. Rental Yields 6.17%
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: Global Property Guide and Idealista

Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in the largest cities of Portugal. We used the Idealista website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).

For instance, if the monthly rent is $500 and the purchase price is $100,000, the calculation would be: $500 (Monthly Rent) x 12 / $100,000 (Purchase Price) = 6% (Gross Rental Yield).

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