Portugal housing protests: what the data shows on rents and prices in Lisbon and Porto
Housing protests in Lisbon and Porto have drawn thousands this month. On INE data, Lisbon's median new-lease rent is €17.43 per m² a month and homes sell for a median €5,192 per m²; prices have risen faster than rents in 180 of 239 municipalities.
By GableIndex team · 2026-10-31 · Data as of INE, 12 months to 2026 Q2 (released 23 Oct 2026), and Eurostat house price index, 2026 Q2 (released 1 Oct 2026)
The short version: in the 12 months to 2026 Q2, new leases in Lisbon had a median rent of €17.43 per m² a month, the highest of the 251 municipalities in our yield table, and dwellings sold for a median €5,192 per m², the highest of 304 with price data. In Porto the figures were €14.48 and €3,631. Since the 12 months to 2025 Q3, sale prices have risen faster than new-lease rents in 180 of the 239 municipalities with both figures in both periods: the median price per m² rose 13.3% and the median rent 6.1%. Eurostat's index puts Portugal's house prices 16.5% higher in the year to 2026 Q2, the fastest of 26 EU countries.
What happened this week
Campaigners have pitched tents in central squares in Porto and Lisbon since early October. Early on Sunday 25 October, police cleared more than 100 tents in Lisbon's Rossio Square and about 50 in Porto's Dom João I Square; police reported 31 arrests and 11 people injured, and organisers said more than 20 were hurt (The Guardian; Euronews). On Tuesday 27 October, as parliament began debating the 2027 state budget, thousands gathered outside the Assembly of the Republic (AP; 24 Notícias). Campaigners want the government to drop proposed legislation that would make evictions easier and end rent caps on new leases; it has passed a first reading.
On X, posts about the camps and the police operation drew tens of thousands of views. Most reaction sided with the protesters on housing costs and criticised the police action; a minority, notably under a TV news video showing objects thrown at officers, backed the clearances.
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Rents and prices in the cities at the centre of the protests
INE publishes rolling 12-month medians each quarter. We compare the 12 months to 2026 Q2 with the 12 months to 2025 Q3, the earliest period in our tables.
| Municipality | Rent, €/m²/month | Change | Sale price, €/m² | Change | Est. gross yield |
|---|---|---|---|---|---|
| Lisboa | 17.43 | +4.2% | 5,192 | +10.7% | 4.03% (was 4.28%) |
| Cascais | 16.83 | +5.2% | 4,889 | +10.3% | 4.13% (was 4.33%) |
| Oeiras | 15.75 | +6.0% | 4,438 | +11.1% | 4.26% (was 4.46%) |
| Porto | 14.48 | +3.8% | 3,631 | +14.0% | 4.79% (was 5.25%) |
| Almada | 13.71 | +8.7% | 3,387 | +12.5% | 4.86% (was 5.02%) |
| Amadora | 13.30 | +5.1% | 3,315 | +18.5% | 4.81% (was 5.43%) |
| Sintra | 11.41 | +5.1% | 3,068 | +20.1% | 4.46% (was 5.10%) |
| Vila Nova de Gaia | 10.85 | +3.2% | 2,652 | +13.3% | 4.91% (was 5.39%) |
| Coimbra | 9.44 | +5.2% | 2,295 | +14.1% | 4.94% (was 5.35%) |
| Braga | 8.68 | +5.1% | 2,199 | +15.7% | 4.74% (was 5.22%) |
| Median, 239 municipalities | 6.00 | 1,374 | 5.04% (was 5.51%) |
Rent: INE median rent of new lease agreements, €/m², 12 months to 2026 Q2 (indicator 0014696). Price: INE median value per m² of dwellings sold, 12 months to 2026 Q2 (indicator 0012234). Changes against the 12 months to 2025 Q3. Estimated gross rental yield, GableIndex calculation from INE rents and INE sale prices; before costs, taxes and vacancy. Median row: the 239 municipalities with both figures in both periods. Full list: estimated rental yields in Portugal.
Prices outpaced rents in every city in the table, most sharply in Sintra and Amadora, on the edge of Lisbon. That is why estimated gross yields fell almost everywhere: in Porto from 5.25% to 4.79%, in Lisbon from 4.28% to 4.03%.
Worked example
Lisbon: €17.43 × 12 = €209.16 of rent a year per m². €209.16 ÷ €5,192 ≈ 4.03%. Both inputs are medians per m², so the result does not depend on the size of the home.
The national picture
Eurostat's house price index for Portugal stood at 301.43 in 2026 Q2 (2015 = 100), meaning prices are about three times their 2015 level. The annual rise has been between 16.5% and 18.9% in each of the last five quarters. The EU average was 4.7% in the year to 2026 Q2 and Spain's was 12.1% (EU house prices by country).
What the numbers don't tell you
- Incomes. We do not hold wage or household income data, so these figures cannot say how affordable a home is for people who live there.
- New leases only. INE's rent figure covers new lease agreements. Tenants on older contracts may pay less.
- Short-term lets and evictions. Our data does not cover holiday lets, evictions or the number of homes on the market.
- Medians, not homes. A municipal median per m² hides big differences between neighbourhoods and types of home; yields are gross, before costs and tax.
- Timing. The latest INE figures run to June 2026. Any effect of the proposed rental law changes, or of the protests, is not in them.
Sources: Statistics Portugal (INE), median rent of new lease agreements (indicator 0014696) and median value per m² of dwellings sold (indicator 0012234), 12 months to 2025 Q3 to 2026 Q2, data released 23 Oct 2026, CC BY 4.0; modified by GableIndex. Eurostat, house price index (prc_hpi_q), 2026 Q2, data released 1 Oct 2026. The Guardian, Euronews, AP and 24 Notícias reports of 25 to 28 Oct 2026.
See also: Portugal house prices by municipality · Estimated rental yields in Portugal · Rental yields in Spain and Portugal by city · Highest rental yields in Europe · EU house prices by country · Methodology · All articles
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Figures are a snapshot and will change. Information only. Not financial, investment, tax or legal advice.