Renting is the practical choice for Portugal visitors who want more than a vacation but have no long-term plans. There are two main types to choose from: short-term or long-term rentals. If you see yourself settling here for at least the next year or so, long term rentals in Portugal may be your best bet.
A rental is usually considered long-term in the country if it lasts six months or more. Long-term rentals are more common in urban areas and inland suburbs, as resort communities attract more buyers than renters. In areas where they flourish, the choices range from simple studio apartments to luxury homes complete with exclusive pools and wine rooms. For a one- or two-bedroom apartment, ates range from €600 to €900 per month in the low season for a contract of at least two months. Shorter rentals are more expensive and cost about €350 to €400 per week (€1400 to €1600 per month).
One of the first things to ask when looking at rental property is whether or not the place is furnished. In Portuguese, rental homes are referred to as mobiliado or desmobiliado (or sem mobília) respectively. The trends vary from region to region. Generally, long-term rentals tend to be furnished in resort areas, where people stay only a few weeks or months. Residential and urban areas are more likely to have unfurnished homes, as people stay much longer and may find it more practical to buy their own gear. In most cases, tenants pay for gas, electricity, heating, and other utilities.
People looking to spend winter in Portugal can find some pretty good deals in resort areas, although you may have to start looking months ahead as demand from mainland European travelers can be high. Also worth noting is that resort rentals tend to be short—it’s hard to find leases of one year or more in areas like Algarve where the population is largely expatriates.
If you’re only looking for a holiday let, the short-term rental market may be more appropriate. Besides the duration—usually a few weeks to three months—one important difference between short-term and long-term rentals is that short-term contracts are more restrictive. You may only be allowed to use certain appliances for a number of hours, or activities like barbecues may be restricted. Nevertheless, they offer much more value for the dollar than most hotels, which cost at least twice as much per day for much less space.