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Renting in Lisboa or Oeiras: which is cheaper?

Oeiras is 11.1% cheaper than Lisboa: €15.02/m² against €16.89/m² (median of new leases, 2025). An 85 m² T2 costs about €1,420 in Lisboa and €1,220 in Oeiras.

See LisboaSee Oeiras
  • Official INE data 2020–2026
  • Up to Q2 2026
  • Updated 11 October 2026

New lease rents, not asking prices.

Key figures

Lisboa vs Oeiras at a glance

Median per m² in Oeiras vs Lisboa (2025)
−11.1%
85 m² T2 per month, Lisboa vs Oeiras (estimate)
€1,420 vs 1,220
Change in a year (2024 → 2025): Lisboa vs Oeiras
+3.6% vs +7.9%
National rank: Lisboa vs Oeiras
1st vs 3rd

Side by side

Indicator Lisboa Oeiras Oeiras vs Lisboa
Median per m² (2025) €16.89/m² €15.02/m² −11.1%
85 m² T2 per month (estimate) €1,420 €1,220 −14.0%
Change 2024 → 2025 +3.6% +7.9% +4.3 p.p.
12 months to Q2 2026 €17.43/m² €15.75/m² −9.6%
Q2 2026 €17.79/m² €16.12/m² −9.4%
National rank 1st / 247 3rd / 247
New leases (2025) 17,084 3,115 −81.8%

The last column is the second city against the first. The T2 rent is an Aluseg estimate (median per m² × size × 85 m²); every other figure is INE's.

Median rent per m² (2025)

  • Lisboa€16.89/m²
  • Oeiras€15.02/m²

Green = the cheaper one, amber = the dearer one. Bars start at zero.

An 85 m² T2 per month

  • Lisboa€1,420
  • Oeiras€1,220

Aluseg estimate for an 85 m² T2.

Trend

Since 2020: Lisboa and Oeiras

Median rent per m² of new leases, per year (€/m² a month). Source: INE.
  • Lisboa municipality
  • Oeiras municipality
  • Portugal
Show every year's values
YearLisboa municipalityOeiras municipalityPortugal
202011.54€/m²9.93€/m²5.79€/m²
202111.34€/m²10.00€/m²6.31€/m²
202212.99€/m²11.43€/m²6.88€/m²
202315.38€/m²13.10€/m²7.62€/m²
202416.31€/m²13.92€/m²8.47€/m²
202516.89€/m²15.02€/m²9.29€/m²

Since 2020, the median in Lisboa moved +46.4% and in Oeiras +51.3%: Oeiras rose faster.

Quarter by quarter

Median rent per m² of each quarter's new leases (€/m² a month). Source: INE (municipalities over 100,000 inhabitants).
  • Lisboa municipality
  • Oeiras municipality
  • Portugal
Show every quarter's values
QuarterLisboa municipalityOeiras municipalityPortugal
Q1 202012.00€/m²9.94€/m²5.63€/m²
Q2 202011.43€/m²9.80€/m²5.56€/m²
Q3 202011.54€/m²10.23€/m²5.86€/m²
Q4 202011.27€/m²9.76€/m²6.04€/m²
Q1 202110.91€/m²9.47€/m²5.89€/m²
Q2 202111.11€/m²9.89€/m²6.20€/m²
Q3 202111.54€/m²10.43€/m²6.38€/m²
Q4 202111.69€/m²10.23€/m²6.65€/m²
Q1 202212.00€/m²10.37€/m²6.45€/m²
Q2 202212.76€/m²11.04€/m²6.88€/m²
Q3 202213.38€/m²12.00€/m²6.95€/m²
Q4 202214.28€/m²12.67€/m²7.27€/m²
Q1 202314.48€/m²11.99€/m²7.01€/m²
Q2 202315.22€/m²13.27€/m²7.53€/m²
Q3 202315.86€/m²13.34€/m²7.81€/m²
Q4 202316.00€/m²13.64€/m²8.25€/m²
Q1 202415.60€/m²12.88€/m²7.76€/m²
Q2 202416.25€/m²14.11€/m²8.51€/m²
Q3 202416.67€/m²14.17€/m²8.67€/m²
Q4 202416.67€/m²14.73€/m²9.06€/m²
Q1 202516.13€/m²14.19€/m²8.67€/m²
Q2 202516.93€/m²15.06€/m²9.23€/m²
Q3 202517.26€/m²15.77€/m²9.49€/m²
Q4 202517.11€/m²15.63€/m²9.78€/m²
Q1 202617.42€/m²15.47€/m²9.46€/m²
Q2 202617.79€/m²16.12€/m²10.17€/m²

A single quarter has fewer leases and swings more than the annual series.

Monthly rent from T0 to T4

Size Reference area Lisboa Oeiras Oeiras vs Lisboa
T0 or T1 48 m² €970 €860 −11.4%
T2 85 m² €1,420 €1,220 −14.0%
T3 115 m² €1,800 €1,545 −14.0%
T4+ 145 m² €2,020 €1,790 −11.3%

Aluseg estimate: median €/m² (2025) adjusted by the gap between sizes INE measures and multiplied by a reference floor area. See the full note on the Lisboa and Oeiras pages.

What the numbers say

Which is cheaper. Oeiras is 11.1% cheaper than Lisboa: €15.02/m² against €16.89/m² (median of new leases, 2025). For an 85 m² T2 the gap is about €200 a month (€2,375 a year).

The trend. Between 2024 and 2025, the median rent in Lisboa moved +3.6% and in Oeiras +7.9%: Oeiras rose 4.3 percentage points faster. The cheaper city is rising faster, so the gap tends to narrow.

The market. Lisboa ranks 1st of the 247 municipalities with INE data and Oeiras 3rd; 17,084 new leases were filed in Lisboa and 3,115 in Oeiras in 2025.

In detail

Each municipality, with parishes, sizes and trend

Compare with another cityEvery municipality

FAQ: Lisboa vs Oeiras

Where is renting cheaper: Lisboa or Oeiras?

Oeiras is 11.1% cheaper than Lisboa: €15.02/m² against €16.89/m² (median of new leases, 2025). An 85 m² T2 is about €1,420/month in Lisboa and €1,220/month in Oeiras (Aluseg estimate).

Are rents rising faster in Lisboa or Oeiras?

Between 2024 and 2025, the median moved +3.6% in Lisboa and +7.9% in Oeiras. Since 2020, the cumulative change is +46.4% and +51.3%.

Where do these figures come from?

From INE (local housing rent statistics): the median €/m² of new leases filed with the Tax Authority, not asking prices from listings. The T2 rent is an Aluseg estimate. You can compare any other municipality.

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Sources and methodology

Source: INE (Statistics Portugal), Estatísticas de Rendas da Habitação ao nível local (Metodologia 2026) (indicators 0014773, 0014772, 0014711, 0014696, 0014707, 0014706, 0014704). Rents of new lease contracts declared to the Tax Authority, not asking prices from listings. Years 2020 to 2025; last-12-month series up to Q2 2026.

What is an Aluseg estimate: monthly rent by size (median €/m² × INE ratio by size × reference area) and the floor-area calculator. Every other figure is INE's, unchanged. A value INE does not publish (too few leases) shows as n/p and is never filled in by us.

Maps: administrative boundaries from CAOP 2025, Direção-Geral do Território (Portugal), CC BY 4.0, simplified by Aluseg.

Data extracted from the INE API on 11 October 2026. Download every value as CSV · Aluseg Rent Index

Photo: Guilherme Marques, Pexels License, Pexels