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Rentals in Lisbon seem to be dropping in price recently and the quantity is increasing

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Posts: 2962
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I still have my original search on idealista from 2021 when we located our apartment in central Lisbon. I have seen so many new listings recently that appear to be prior AL listings that are now long term.

There are also quite a few remodels coming on the market that we have seen undergoing renovation over the prior year plus. The pricing is competitive, and some have dropped rental prices up to 20%. The pricing is now below what we are paying with the 2024 rental coefficient increase. That will give us something to think about when our lease is up in December of this year. 

Here is an example: https://www.idealista.pt/en/imovel/32230084/?xts=582068&xtor=EPR-1150-%5bexpress_alerts_20240126%5d-20240126-%5bProperty_LowPrice_Photo%5d-62029279987@1-20240126102839&isFromSavedSearch=true&savedSearchAlertId=55560581&genericSearch=true  

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I noticed that too, but it could just be the normal winter timing when there’s a drop in demand as I’ve noted over the years. If this supply and pricing hold come this summer when demand is normally higher, then I would take that as the effects from mais habitação, the loss of NHR, etc. making an impact.

I’m in the same boat. My lease contract is for up to two years, but the annual increase of 6.94% (the 2024 rental coefficient) would apply for me after one year or in November 2024.

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This article seems to confirm what I am seeing from my idealista searches for Lisbon. I didn’t realize how much the inventory has increased in other areas like Porto.

There was another article today saying that there would not be a housing bubble in Portugal, but I am not buying that. There have been several articles about housing expansions that have been on hold here in Lisbon that are starting to gather steam. It almost looks like officials have some interest in watching prices rise and suppressing new housing. Maybe these officials are property owners.

https://www.theportugalnews.com/news/2024-02-05/rental-property-supply-soars-by-55/85739

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We’re seeing this around Porto and Gaia as well.

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Good. Because € 1710 / month for that T2 is massively overpriced. It shouldn’t even be half that amount if the market made any sense. And even at half price most locals couldn’t afford that, while it’s pretty much a basic appartment. But hey … Everyone wants to live in Lisbon, apparantly.

AirBnb should be banned EU wide if you ask me. Or at least force them to adhere to all the same rules & regulations as hotels and regular rentals. That, combined with taxing abandoned houses and/or giving owners a way to give them up, would make a huge difference in the country.

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