signed around public phone advertising rooms for rent

Rent of rooms for students rises 10.5% in year

Another sign of Portugal’s housing crisis in full swing

The average price of rooms and flats for students to rent has risen by 10.5% in the last year, to well over €400 a month in Lisbon and Porto, according to the latest report from the Student Accommodation Observatory, published at the beginning of August.

According to the analysis, which is based on more than 20 real estate portals and websites of agencies in the sector, there were 2,892 rooms available in the capitals of Portugal’s 20 districts.

According to the data, which is quoted by Público newspaper today, in most districts the increase was higher than the 10.5% national average, with increases going up to 33%, as in the case of Portalegre district.

The exceptions are the districts of Beja, Bragança and Porto, where the increases were below 10%.

However, renting a room in Porto costs an average of €425 per month and in Lisbon €450.

Setúbal at €350, Faro at €339 and Aveiro at €320 are other cities where accommodation costs are high.

Some academic associations questioned by Público said that they had received reports of very high prices, even where homes or rooms are rented out without receipts (meaning the money is not ‘declared’/ taxed).

In addition to the prices charged, another problem reported by students is the need to pay two or three months rent in advance.

The Observatory’s report is published by the Directorate-General for Higher Education (DGES) on the basis of work by Alfredo Real Estate Analytics, a Portuguese start-up that has been doing this work for three years.

It is another indication of the ‘race’ by landlords to shore-up earnings ahead of any restrictions that may come into effect when the government’s new housing programme is finally enacted into law.

Source material: LUSA