Lison Portugal

Apartments Around the World: Renting in Lisbon, Portugal

April 1, 2011 | Best Cities, Best Cities and Neighborhoods

As one of the oldest cities in the world, Lisbon, Portugal, is truly a sight to be seen. Known as an alpha city, Lisbon is known for its global contributions in finance, commerce, media, entertainment, art, international trade, education and tourism. As the only European capital located within 20 minutes of gorgeous sandy beaches, it’s no surprise that the capital of Portugal is a sought-after hot spot for rentals.

With the highest GDP per capita in Portugal, Lisbon has an efficient and well-stabilized economy and lifestyle, but its economic standing is just one of many reasons to rent there. The city’s stunning architecture exudes culture and history. Whether in Baixa, the heart of the city, or in one of the surrounding neighborhoods, residents are bound to have an inspiring view.

Due to the popularity of the city with expats, there are many short-term rentals available, which only last a few months. Short-term rentals usually require renters to pay one month’s rent in advance, as well as a security deposit that consists of one or two months’ rent. Although you may be paying a lot up front, you can rest easy knowing that these apartments are fully furnished (known as mobilado or com móveis in Portuguese) and utilities are usually included.

Longer-term rentals are usually based on leases of one year and can run from about €500 to €700 per month for a 2-bedroom apartment in a good area downtown. However, only about 10 percent of Portugal residents are renters, due to the staunchly pro-tenant laws that discourage owners from becoming landlords. Instead of renting, most Portuguese young people choose to live with family until they can afford to buy a home.

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