What are rents like in Lisbon right now? (2026)

Whether you're renting out a property in Lisbon or want to understand what tenants pay right now, this article covers it all.

We break down current rental prices in Lisbon by apartment size, neighborhood, and tenant type, and we constantly update this post with the latest data.

And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Lisbon.

Who is the author of this content?

INVESTROPA

A team specialized in real estate investing in European countries

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Lisbon. If you’d like to learn more about us, you can check our presentation page.

What are typical rents in Lisbon as of 2026?

What's the average monthly rent for a studio in Lisbon as of 2026?

As of early 2026, the average monthly rent for a studio in Lisbon is around 900 euros (roughly 940 USD).

Most studios rent between 750 and 1,200 euros per month (780 to 1,250 USD), depending on building quality and location.

Main factors causing studio rents to vary in Lisbon include Metro proximity, furnishing status, floor level, and elevator access.

What's the average monthly rent for a 1-bedroom in Lisbon as of 2026?

As of early 2026, the average monthly rent for a 1-bedroom apartment in Lisbon is around 1,250 euros (approximately 1,300 USD).

Most 1-bedrooms fall within 1,000 to 1,700 euros per month (1,040 to 1,770 USD), depending on neighborhood and condition.

Cheapest 1-bedroom rents in Lisbon are in Benfica, Olivais, and Lumiar, while the highest are in Santo Antonio, Misericordia, and Santa Maria Maior.

What's the average monthly rent for a 2-bedroom in Lisbon as of 2026?

As of early 2026, the average monthly rent for a 2-bedroom apartment in Lisbon is around 1,850 euros (approximately 1,930 USD).

Most 2-bedrooms rent within 1,400 to 2,600 euros per month (1,460 to 2,710 USD), reflecting significant neighborhood differences.

Cheapest 2-bedroom rents are in Benfica, Lumiar, and Olivais, while the most expensive are in Santo Antonio, Misericordia, and Parque das Nacoes.

By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Lisbon.

What's the average rent per square meter in Lisbon as of 2026?

As of early 2026, the average asking rent in Lisbon is around 23 euros per square meter (24 USD), while contracted rents on new leases average closer to 16.50 euros (17 USD).

Across Lisbon neighborhoods, rent per square meter ranges from 14 euros in outer areas to over 28 euros in prime central parishes like Santo Antonio.

Lisbon's rent per square meter is significantly higher than Porto (15 to 16 euros) and roughly double the national average, making it Portugal's most expensive rental market.

Property features that push rent above average include river views, recent renovations, elevator access in older buildings, and outdoor space like balconies.

How much have rents changed year-over-year in Lisbon in 2026?

As of early 2026, Lisbon rents have increased by approximately 2% year-over-year on asking prices and about 1% on contracted rents, a notable slowdown from previous years.

Main factors driving this include cooling inflation, persistent supply shortages, and affordability pressure limiting what tenants can pay.

This is significantly slower than 2025's mid-single-digit growth of around 5%, suggesting the market is stabilizing after years of rapid increases.

What's the outlook for rent growth in Lisbon in 2026?

As of early 2026, projected rent growth for Lisbon is 2% to 4%, with upside of 5% to 7% if supply tightens and downside of 0% to 1% if affordability pressures intensify.

Key factors include inflation easing toward 2%, continued expat demand, and government housing policies aimed at increasing supply.

Neighborhoods expected to see strongest growth include Marvila, Alcantara, and transit-connected zones near new Metro extensions.

Risks include changes to short-term rental regulations, slowdown in expat arrivals, or faster-than-expected new housing delivery.

We have made this infographic to give you a quick and clear snapshot of the property market in Portugal. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.

Which neighborhoods rent best in Lisbon as of 2026?

Which neighborhoods have the highest rents in Lisbon as of 2026?

As of early 2026, the three highest-rent neighborhoods in Lisbon are Santo Antonio (around 2,500 euros monthly for a 2-bedroom, or 2,600 USD), Misericordia (around 2,300 euros), and Avenidas Novas (around 2,200 euros).

These command premium rents due to prime central locations, proximity to Avenida da Liberdade, renovated buildings, and upscale dining and shopping access.

Typical tenants include executives, wealthy expats, diplomats, and finance or tech professionals prioritizing walkability over space.

By the way, we've written a blog article detailing what are the current best areas to invest in property in Lisbon.

Where do young professionals prefer to rent in Lisbon right now?

Top neighborhoods for young professionals in Lisbon are Arroios (including Intendente), Areeiro and Alameda, and Santos near Cais do Sodre, offering nightlife and quick commutes.

Young professionals typically pay 1,000 to 1,500 euros monthly for a 1-bedroom (1,040 to 1,560 USD), more affordable than prime central areas.

These areas attract them with vibrant cafe scenes, coworking spaces, excellent Metro connections, and renovated apartments with character.

By the way, you will find a detailed tenant analysis in our property pack covering the real estate market in Lisbon.

Where do families prefer to rent in Lisbon right now?

Top family neighborhoods in Lisbon are Alvalade, Telheiras (Lumiar parish), and Campo de Ourique, known for residential character and family-friendly atmosphere.

Families typically pay 1,600 to 2,200 euros monthly for 2 to 3 bedrooms (1,670 to 2,290 USD), offering more space and quieter streets.

These attract families with tree-lined streets, parks, lower traffic, and larger apartments suitable for children.

Top schools nearby include Colegio Moderno and Externato Marcelino Champagnat near Alvalade, plus well-regarded public schools in Lumiar.

Which areas near transit or universities rent faster in Lisbon in 2026?

As of early 2026, fastest-renting areas near transit or universities in Lisbon are Cidade Universitaria/Campo Grande, Saldanha/Marques de Pombal, and Oriente in Parque das Nacoes.

Properties here stay listed only 5 to 15 days when priced correctly, with some disappearing within 24 hours.

Typical transit premium is 50 to 100 euros monthly (52 to 104 USD) for properties within walking distance of stations or universities.

Which neighborhoods are most popular with expats in Lisbon right now?

Top expat neighborhoods in Lisbon are Principe Real (Misericordia parish), Chiado/Baixa (Santa Maria Maior), and Campo de Ourique, offering walkability and cosmopolitan atmosphere.

Expats typically pay 1,400 to 2,000 euros monthly for 1 to 2 bedrooms (1,460 to 2,080 USD), at the higher end but with renovated, modern units.

These attract expats with English-friendly services, international restaurants, walkable streets, and proximity to coworking spaces.

Most represented nationalities include Americans, British, French, Germans, and Brazilians, many working remotely or for international companies.

And if you are also an expat, you may want to read our exhaustive guide for expats in Lisbon.

Who rents, and what do tenants want in Lisbon right now?

What tenant profiles dominate rentals in Lisbon?

Top three tenant profiles in Lisbon are local professionals and couples, university students, and expats including remote workers.

Local professionals represent roughly 45% of the market, students about 25%, expats around 20%, with families comprising the remaining 10%.

Professionals seek 1 to 2 bedrooms near Metro lines, students want studios or shared apartments near universities, and expats prefer furnished central units.

If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Lisbon.

Do tenants prefer furnished or unfurnished in Lisbon?

In Lisbon, approximately 45% of tenants prefer furnished and 55% unfurnished, varying by neighborhood and tenant type.

Furnished apartments command a premium of 100 to 200 euros monthly (104 to 208 USD), roughly 10% to 15% more.

Expats, international students, and short-term professionals prefer furnished rentals for move-in convenience.

Which amenities increase rent the most in Lisbon?

Top five rent-boosting amenities in Lisbon are elevator access, air conditioning, balcony or terrace, modern kitchen, and parking.

An elevator adds 50 to 100 euros monthly (52 to 104 USD), AC adds 30 to 60 euros, balcony adds 40 to 80 euros, modern kitchen adds 30 to 50 euros, and parking adds 50 to 150 euros.

In our property pack covering the real estate market in Lisbon, we cover what are the best investments a landlord can make.

What renovations get the best ROI for rentals in Lisbon?

Top five ROI renovations in Lisbon are kitchen refresh, bathroom update, window/insulation improvements, AC installation, and storage/layout tweaks.

Kitchen refresh costs 3,000 to 8,000 euros for 30 to 60 euro monthly increase; bathroom costs 2,000 to 5,000 euros for 20 to 40 euro increase; windows cost 2,000 to 6,000 euros for 25 to 50 euro increase; AC costs 1,000 to 2,500 euros for 30 to 60 euro increase; storage costs 500 to 2,000 euros for 15 to 30 euro increase.

Avoid overly luxurious finishes exceeding neighborhood standards, high-end fixtures that don't match building quality, and structural changes not adding bedrooms.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Portugal versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.

How strong is rental demand in Lisbon as of 2026?

What's the vacancy rate for rentals in Lisbon as of 2026?

As of early 2026, Lisbon's vacancy rate for long-term rentals is around 3%, indicating a tight market where demand exceeds supply.

Vacancy ranges from 2% in high-demand central areas like Arroios to 4% or 5% in outer zones like Olivais and Benfica.

This is below the historical average of 4% to 5%, reflecting sustained shortage and strong demand from locals and international arrivals.

Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Lisbon.

How many days do rentals stay listed in Lisbon as of 2026?

As of early 2026, Lisbon rentals stay listed 10 to 25 days on average when priced correctly.

Days on market range from just a few days for units under 1,000 euros to 3 to 6 weeks for properties above 1,500 euros or in less central locations.

This is similar to one year ago, though overpriced listings now take longer as tenants become more price-sensitive.

Which months have peak tenant demand in Lisbon?

Peak demand months in Lisbon are August through October and January through February, when most leases are signed.

This is driven by the academic calendar (students arriving September), post-summer job relocations, and new-year contract renewals.

Lowest demand is typically November through December and April through May, when landlords have more negotiating flexibility.

What will my monthly costs be in Lisbon as of 2026?

What property taxes should landlords expect in Lisbon as of 2026?

As of early 2026, Lisbon landlords should expect annual IMI property tax of around 600 euros (625 USD) for an apartment valued at 200,000 euros, based on the 0.3% municipal rate.

Annual taxes range from 300 euros for lower-value properties to 1,500 euros or more (1,560 USD) for high-value apartments in prime areas.

IMI is calculated by applying the municipal rate (0.3% for urban properties) to the tax assessment value (VPT) set by the Tax Authority.

Please note that, in our property pack covering the real estate market in Lisbon, we cover what exemptions or deductions may be available to reduce property taxes for landlords.

What maintenance budget per year is realistic in Lisbon right now?

A realistic annual maintenance budget for a Lisbon rental is 1,500 to 2,000 euros (1,560 to 2,080 USD), covering routine repairs and building upkeep.

Costs range from 1,000 euros for newer buildings to 3,000 euros or more (3,120 USD) for older properties needing frequent repairs.

Landlords typically set aside 10% to 15% of annual rental income, aligning with the 1% of property value rule.

What utilities do landlords often pay in Lisbon right now?

Landlords in Lisbon most commonly pay the condominium fee, and sometimes internet or all utilities for "bills included" rentals.

Monthly condominium fees range from 30 to 80 euros (31 to 83 USD), internet adds 30 to 40 euros if included, and full utilities add 100 to 150 euros.

Common practice is tenants pay electricity, water, gas, and internet directly, while landlords cover condominium fees and property taxes.

How is rental income taxed in Lisbon as of 2026?

As of early 2026, rental income in Lisbon is typically taxed at a flat 28% rate, though landlords can aggregate with other income, and lower rates apply to certain long-term leases.

Main deductions include IMI tax, condominium fees, maintenance costs, insurance, and administrative expenses related to the rental.

A common mistake is failing to register lease contracts with the Tax Authority on time, which disqualifies landlords from reduced rates and triggers penalties.

We cover these mistakes, among others, in our list of risks and pitfalls people face when buying property in Lisbon.

We made this infographic to show you how property prices in Portugal compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.

What sources have we used to write this blog article?

Whether it's in our blog articles or the market analyses included in our property pack about Lisbon, we always rely on the strongest methodology we can ... and we don't throw out numbers at random.

We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.

Source	Why It's Authoritative	How We Used It
Statistics Portugal (INE) - Local Rent Highlights	INE is Portugal's official statistics agency, so its rent figures are the closest thing to ground truth.	We used it to anchor Lisbon's median rent per square meter on new contracts. We then used its year-over-year change for our 2026 extrapolation.
INE - Housing Theme Hub	The official portal where INE publishes housing and rent datasets.	We used it to cross-check national rent context and ensure we weren't relying on a single dataset.
idealista - Lisbon Rent Time Series	The biggest Iberian property portal with consistent listing-based tracking methodology.	We used it to anchor asking rents in late 2025 and adjusted to January 2026 using recent trends.
idealista - Express Rentals Report	Direct platform data on how quickly listings disappear, a practical demand signal.	We used it as a speed-of-letting proxy and translated it into days-listed estimates.
Confidencial Imobiliario - Housing Lease Market	Portuguese housing data specialist focused on transaction reality, not just ads.	We used it to cross-check contracted rent direction and sanity-check our 2026 estimates.
Reuters - Portugal Housing Policy	Global wire service with strong editorial standards and clear attribution.	We used it to frame supply-side policy pressure and explain Lisbon's structural shortage.
Lisbon City Council - Municipal Taxes	The municipality is the primary source for Lisbon's local tax decisions.	We used it to anchor Lisbon's IMI rate and translate it into annual cost examples.
Portal das Financas - IMI Section	The official Portuguese Tax Authority portal, definitive reference for IMI rules.	We used it to validate IMI is nationally administered with municipal rates.
Portal das Financas - Rental Income Basics	The Tax Authority's plain-language guidance on rental income taxation.	We used it to ground the tax section in official language about autonomous rates.
Portuguese IRS Code - Article 72	The legal text on the Tax Authority site, primary legal reference.	We used it to confirm rental income can be taxed at special autonomous rates.
European Commission - Portugal Forecast	Top-tier public forecaster for EU macro assumptions.	We used it to set the 2026 macro backdrop influencing tenant budgets and rent growth.
Banco de Portugal - Dec 2025 Bulletin	Points to Banco de Portugal's official macro projections.	We used it as a public-sector cross-check on the 2026 macro environment.
OECD - Portugal Country Note	OECD forecasts are widely cited and methodologically transparent.	We used it to triangulate the 2026 macro scenario for rent growth projections.
ECB Data Portal - HICP Rentals	Official central-bank data portal showing rent inflation dynamics.	We used it to contextualize rent growth within broader inflation trends.
ECO - Lisbon IMI Rate News	Respected Portuguese business outlet covering municipal decisions.	We used it to confirm Lisbon is maintaining the 0.3% IMI rate for 2026.
Doutor Financas - Rental Tax Guide	Trusted Portuguese personal finance site translating complex tax rules.	We used it to understand duration-based reductions for long-term leases.
idealista - Demand Near Lisbon	Tracks rental demand patterns across the Lisbon metropolitan area.	We used it to understand demand distribution for neighborhood-level analysis.