Gross rental yields in Portugal: Lisbon and 5 other cities

The average gross rental yield in Portugal stands at 5.47% (2024, Q2). Previously, in Q4, 2023 the average gross rental yield stood at 5.65%.

  • Lisbon
  • Porto
  • Faro
  • Aveiro
  • Braga
  • Setubal
  Last Updated: May. 24, 2024
LISBON - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Lisbon  
Studio €299,900 €1,200 4.80%
1-Bedroom €380,000 €1,500 4.74%
2-Bedroom €470,000 €2,000 5.11%
3-Bedroom €695,000 €2,500 4.32%
4+Bedroom €950,000 €3,500 4.42%
Cascais      
Studio €249,000 €1,100 5.30%
1-Bedroom €360,000 €1,510 5.03%
2-Bedroom €500,000 €2,250 5.40%
3-Bedroom €770,000 €2,950 4.60%
4+Bedroom €1,550,000 €4,500 3.48%
Sintra  
1-Bedroom €163,000 €980 7.21%
2-Bedroom €195,000 €1,200 7.38%
3-Bedroom €245,000 €1,550 7.59%
Oeiras  
1-Bedroom €269,500 €1,200 5.34%
2-Bedroom €420,000 €1,500 4.29%
3-Bedroom €658,000 €1,875 3.42%
Lisbon avg. Rental Yields 5.15%
PORTO - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Porto  
Studio €210,000 €980 5.60%
1-Bedroom €250,000 €1,190 5.71%
2-Bedroom €352,035 €1,450 4.94%
3-Bedroom €500,000 €1,900 4.56%
4+Bedroom €660,000 €2,325 4.23%
Vila Nova de Gaia  
Studio €175,000 €996 6.83%
1-Bedroom €207,500 €1,000 5.78%
2-Bedroom €278,000 €1,250 5.40%
3-Bedroom €380,000 €1,750 5.53%
Matosinhos  
1-Bedroom €239,500 €1,100 5.51%
2-Bedroom €335,000 €1,600 5.73%
3-Bedroom €440,000 €2,200 6.00%
Porto avg. Rental Yields 5.48%
FARO - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Faro (all locations)  
Studio €180,000 €900 6.00%
1-Bedroom €247,716 €1,000 4.84%
2-Bedroom €370,000 €1,350 4.38%
3-Bedroom €395,000 €1,850 5.62%
Faro avg. Rental Yields 5.21%
AVEIRO - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Aveiro (all locations)  
1-Bedroom €195,000 €950 5.85%
2-Bedroom €230,000 €950 4.96%
3-Bedroom €241,250 €1,018 5.06%
Aveiro avg. Rental Yields 5.29%
BRAGA - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Braga (all locations)  
1-Bedroom €180,000 €800 5.33%
2-Bedroom €227,000 €960 5.07%
3-Bedroom €255,000 €1,100 5.18%
Braga avg. Rental Yields 5.19%
SETUBAL - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Setubal (all locations)  
2-Bedroom €189,990 €1,150 7.26%
3-Bedroom €271,000 €1,300 5.76%
Setubal avg. Rental Yields 6.51%
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

Note: Porto´s inconsistent numbers are due to a limited supply of rental units. This is possibly due to Portugal´s Golden Visa program.

Portugal´s Historic Rental Yield Data

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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