The figures come from property portal Imovirtual and are based on the average asking prices of houses and apartments advertised over the last three months.

At €22 per square metre, the Algarve is level with Madeira and only slightly behind Porto, where the average stands at €23.

Lisbon remains the most expensive rental market in the country, with properties advertised at an average of €27 per square metre per month.

The difference becomes much more noticeable when compared with inland Portugal. Guarda has the country's lowest average at €8 per square metre, while Castelo Branco, Vila Real and Viseu stand at around €10.

Leiria and Santarém average €12 per square metre, while Braga and Beja are at €15.

The latest Imovirtual data therefore place the Algarve among a small group of areas where asking rents are above €20 per square metre.

Location continues to play a major role in how much tenants can expect to pay for the same amount of space.

For example, a 70-square-metre property at the Algarve average would be advertised at around €1,540 per month. At Guarda's average, a property of the same size would be around €560.

The figures represent prices advertised by property owners and agents rather than the final rents agreed in rental contracts.


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