Cost of new rents stabilises in Lisbon and falls 1.6% in Porto

New housing rental leases in Lisbon reached a plateau and remained stable in Lisbon according to the latest market study by Confidencial Imobiliário.

Rental prices charged in new lease agreements signed in 2025 showed an annual variation of +0.2% in Lisbon and -1.6% in Porto.

In quarterly terms, the 4th quarter of 2025  registered a variation of  +0.4% in Lisbon  and -0.9% in Porto, reveals the consultancy according to the Residential Income Index.

In Lisbon, the stabilisation recorded throughout the year is the result of a gradual recovery in rents.

After a late 2024 and a first quarter of 2025 marked by quarterly declines close to 2.0%, the capital entered a phase of greater stability, with positive quarterly variations, in chain, close to 0.5% from the 2nd quarter.

This evolution allowed for a progressive recovery in the year-on-year variation, which went from -3.4% in mid-2025 to a positive, albeit residual, value of 0.2% at the end of the year.

In  Porto, the 2025 annual result reflects a market where rents have shown consecutive quarterly declines since the end of 2024, with the only exception of the  3rd quarter of 2025, a period in which there was a marginal positive variation of 0.2%.

Although these quarterly declines were not particularly significant — none exceeding -1.0% — their  persistence over more than a year  ended up pushing the annual variation into negative territory, marking the first annual decline since 2021.

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