An Expat’s Guide to Lisbon Apartments for Rent

When you think of Portugal, Lisbon is the first city that likely comes to mind. Lisbon has a lot going for it – it’s the country’s capital, the largest city, and the wealthiest region in Portugal. Situated atop seven hills that boast magnificent views, the city’s bustling cosmopolitan center is balanced by the tranquil beaches surrounding its outskirts. Sound like the perfect place to live? Our article will provide an overview of Lisbon apartments for rent to help you on your journey to living in Lisbon.

Renting in Portugal is an excellent choice if you aren’t ready to purchase a property or would like to live in a specific city or neighborhood before buying a permanent home. Short-term and long-term rentals in Lisbon allow you the flexibility of living in different areas and enjoying the diverse culture, landscapes, food, and activities. You can also look for fully furnished apartments that take the stress out of moving in. Keep reading to learn more about renting apartments in Lisbon.

Why rent in Lisbon?

Lisbon is one of Europe’s most enchanting cities, with vibrant culture, endless sunshine, and a friendly, laid-back lifestyle that has long attracted expats. Finding a house for rent in Lisbon is a popular choice for newcomers who want to get a feel for the city’s unique rhythm before settling in more permanently. But is renting really the best way to experience moving to Lisbon? 

Renting offers you a chance to explore different neighborhoods before committing. From penthouses to ground-floor apartments in the bustling, colorful streets of Alfama to the relaxed coastal vibe of Cascais, each area has its own distinct personality. Renting lets you live the differences and find the perfect fit, and once you’ve fallen in love with a spot, you’ll know exactly where to call home for the long term. 

Lisbon stands out for expats in Portugal because of its lively culture, job opportunities, and a welcoming expat community. As the country’s economic hub, Lisbon offers a range of career options, convenient amenities, and a social scene perfect for networking and making friends. The city also provides easy access to beaches, parks, and natural escapes, like the Arrabida Natural Park or Costa da Caparica beach, blending urban life with outdoor adventure.  

While renting gives you the flexibility to move around as you please, Lisbon has a way of wrapping itself around your heart. The longer you stay, the more you’ll crave a place that’s truly your own. 

How much is rent in Lisbon?

Living in Lisbon and benefitting from all its advantages does come at a price. The high demand for accommodation in the city has made it more difficult to find apartments to rent that fulfill all your requirements. Since demand is much greater than supply, it has also driven up property prices in recent years, leading to more expensive rentals too.

Luckily, Portugal is one of the most affordable countries in Western Europe for expats and digital nomads. Even so, the cost of living in Lisbon is more expensive than in most other Portuguese cities. For example, the rental prices for one-room apartments in the city center is €1,412.82 per month, on average. You’re likely to find an apartment at a more affordable price as you move away from the center, where you will pay around €998.93 per month for a one-bedroom apartment. Your rent will vary based on where the property is located, be it downtown Lisbon, the city center, popular neighborhoods like Príncipe Real, or residential neighborhoods like Campo de Ourique.

The cost of monthly rentals will also vary depending on the type of property you are looking for. Lisbon offers a range of property types to choose from, including modern, luxury, and more traditional apartments for rent in Portugal.

Is Lisbon cheap to rent?

While rent in Lisbon is not the cheapest in Portugal, it is possible to find Lisbon rentals available at a price that fits your budget. It is always important to remember that rent in the city center and in-demand neighborhoods will be higher. As you move away from the city center and into more affordable neighborhoods, properties become cheaper to rent. For example, the rental prices for a family renting a three-bedroom apartment outside the city center will be around €1,679.49 per month, while the same accommodation in the city center will cost around €2,642.11.

The type of accommodation and furnishings you require will also influence your rent in Lisbon. Are you a student looking for student accommodation with Wi-Fi, a family looking for a fully furnished apartment with a fully equipped kitchen, or a young professional looking for a two-bedroom apartment to share with air conditioning and stunning views? Some apartments may include the extra amenities you may require, like Wi-Fi, furniture, or air-conditioned spaces, but at an additional cost.

You may also want to check what is within walking distance of your desired Lisbon apartment before renting, such as shops, restaurants, and main tourist areas. Plus, you can consider where the closest metro is, so that you can move around more freely. Lisbon has a wealth of neighborhoods to choose from, each offering its own benefits. Bairro Alto is a popular area in the city centre and a great tourist attraction. Lapa and Santos are perfect areas for families due to the surrounding parks, cafés, and schools. Intendente and Mouraria are popular up-and-coming areas for long-term rentals among locals and young professionals.

For more information, you can check out our guide Living in Lisbon: A Guide for Foreigners.

Is it cheap to live in Lisbon?

While Lisbon is more expensive than other Portuguese cities, it is still more affordable compared to other European capitals. Living in Lisbon also offers a great quality of life, as Portugal ranks in the sixth position on the Quality of Life Index created by our residency and citizenship partner, Global Citizen Solutions. This index considers the cost of living, levels of freedom, happiness, environmental performance, sustainable development, and migrant acceptance.

To give you a realistic idea of the cost of living in Lisbon, the table below outlines some average prices for common goods in the city:

Visit our article for more information about the Cost of Living in Lisbon.  

How to find an apartment for rent in Lisbon?

There are a few easy ways to find Lisbon Portugal apartments for rent. You can hire a real estate agency or our experts at Goldcrest who will be able to give you knowledgeable advice about new listings in Lisbon’s rental market. They can also guide you through the legalities by helping you find a good real estate lawyer in Lisbon. Another option is to look through online classified ad sites, many of which are in English.  You could also simply Google search “apartments for rent Lisbon Portugal” to get started, bearing in mind that there is no central listing place for rentals in Lisbon, Portugal, so you will need to spend some time looking around different sites to find some ideal options for you.  A third option is to search Facebook Marketplace and Facebook groups dedicated to rentals in Lisbon.

Overall, there are many advantages to renting an apartment in Lisbon. Portugal’s beautiful capital has lovely weather for most of the year, a rich history and culture, plenty to do and see, and an excellent quality of life. While it can sometimes be challenging to find a property to rent, Lisbon offers a variety of lifestyles and locations that cater to your needs. That’s why Lisbon remains a top choice for relocation among expats, retirees, and digital nomads alike.

The Rising Rental Market: Why Buying Could Be Better in the Long-Term

Lisbon’s popularity means that rental prices have steadily increased, making renting less affordable over time, especially if your initial plan is to rent long term. This often leads expats to consider buying, not just to escape rising rents, but also to take advantage of the benefits of owning property in Portugal. With competitive mortgage rates and a strong market, buying Lisbon real estate can be a smart financial move, especially if you plan to stay long-term.

While Lisbon apartments for rent offer freedom, owning a property allows for real stability and a growing sense of belonging. Lisbon’s property market has a healthy outlook, so if you’re planning to make the city your home, why not consider buying? A real estate investment in Lisbon is one that, over time, will continue to provide benefits by giving you access to a high-quality lifestyle, attracting property growth, or even earning rental income.

Goldcrest: How We Can Help

Considering buying property in Portugal? Find apartments in Lisbon for sale with Goldcrest. Goldcrest is a buyer’s agent that is based in Portugal’s capital city. We provide expert impartial advice on real estate investments and guidance on how to buy property in Portugal. From scouting out the perfect property through to property acquisition, we have you covered. Our team of skilled experts is available to solve all your real estate doubts, offering insightful expertise and strategic advice. We are focused on securing the best deal for you.