Rentals up

Rental of property in Portugal increased significantly in 2009, with a rise of 21 per cent in the capital Lisbon, according to data revealed by the national association of real estate professionals and companies (APEMIP).

This has led to the inflation of the cost of rental properties, which in some cases exceeds a typical monthly mortgage repayment.

According to APEMIP, the cost of renting a one bedroom property in Portugal ranges from 400 euros to 650 euros per month, and up to 800 euros for a three bedroom property.