Rental yield in Lisbon: INE rents and prices for 24 parishes
Gross and net yield of a long let in Lisbon, with INE rents and sale prices by parish, the 2026 IRS rates on rent, IMI, condominium and purchase costs.
In short. At the INE medians for the 12 months to June 2026, a Lisbon home earns a gross rental yield of about 4.0%: new leases at €17.43/m² a month against sale prices of €5,192/m². By parish it runs from 3.5% in Belém to 4.6% in Santa Maria Maior. Since 2026, rents up to €2,300 a month are taxed at 10% (Decreto-Lei 97/2026). The medians are a guide for comparing parishes, not a valuation of any home.
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How the calculator works
Choose a parish and an area: the calculator fills in the price and the rent from the INE medians for the same 12 months to June 2026, so the two match. Type over either with the real figures. The net yield takes off empty months, IMI, condominium, insurance, maintenance and IRS, and divides by the price plus the purchase costs.
Rents and yields by parish
INE median rent of new leases and median sale price, both for the 12 months to June 2026. Gross yield = 12 months of rent ÷ price.
| Parish | Sale, €/m² | New leases, €/m² a month | Gross yield |
|---|---|---|---|
| Ajuda | 5,255 | 18.47 | 4.2% |
| Alcântara | 4,965 | 17.26 | 4.2% |
| Alvalade | 5,152 | 16.24 | 3.8% |
| Areeiro | 5,150 | 15.57 | 3.6% |
| Arroios | 4,734 | 16.67 | 4.2% |
| Avenidas Novas | 6,144 | 18.26 | 3.6% |
| Beato | 4,880 | 15.99 | 3.9% |
| Belém | 5,889 | 17.42 | 3.5% |
| Benfica | 4,792 | 16.28 | 4.1% |
| Campo de Ourique | 6,055 | 19.23 | 3.8% |
| Campolide | 5,580 | 18.48 | 4.0% |
| Carnide | 4,690 | 16.86 | 4.3% |
| Estrela | 5,770 | 20.00 | 4.2% |
| Lumiar | 4,877 | 15.04 | 3.7% |
| Marvila | 4,952 | 18.33 | 4.4% |
| Misericórdia | 6,014 | 19.95 | 4.0% |
| Olivais | 4,399 | 16.58 | 4.5% |
| Parque das Nações | 6,269 | 18.88 | 3.6% |
| Penha de França | 4,659 | 16.77 | 4.3% |
| Santa Clara | 3,850 | 13.39 | 4.2% |
| Santa Maria Maior | 5,200 | 19.92 | 4.6% |
| Santo António | 7,254 | 21.55 | 3.6% |
| São Domingos de Benfica | 5,323 | 16.36 | 3.7% |
| São Vicente | 5,045 | 18.44 | 4.4% |
| Lisbon | 5,192 | 17.43 | 4.0% |
INE also publishes a quarterly median for new leases signed in the second quarter of 2026 alone: €17.79/m² a month for the city, which our rent-or-buy calculator uses (a gross yield of about 4.1%). It moves more from quarter to quarter, so the yields here use the 12-month series.
IRS on rent in 2026
Rent from a home is taxed at a flat rate on the rent less allowed costs, unless a resident chooses to add it to other income at the IRS scale. Since 2026, rents up to €2,300 a month pay 10% (Decreto-Lei 97/2026, for income until the end of 2029), including leases signed before. Longer leases for permanent housing have their own lower rates; the lowest rate that applies is used.
| Residential lease, 2026 | IRS rate |
|---|---|
| Standard autonomous rate | 25% |
| Rent up to €2,300 a month (income 2026–2029) | 10% |
| Lease of 5 to 10 years | 15% |
| Lease of 10 to 20 years | 10% |
| Lease of 20 years or more | 5% |
| Affordable rent under the RSAA (since 1 September 2026) | exempt |
Allowed costs are IMI and stamp duty, the condominium, and repairs and maintenance. Mortgage interest, AIMI, furniture and depreciation are not deductible; ordinary home insurance is not named either, so the calculator leaves it out of the deduction.
What a median does not tell you
The medians mix small and large flats, old and new buildings; a given home can let or sell for well above or below them. We do not value homes: use the table to compare parishes, and the real rent and price for a decision.
Questions
What is the rental yield in Lisbon?
About 4.0% gross at the INE medians for the 12 months to June 2026: new leases at €17.43/m² a month against sale prices of €5,192/m². By parish it runs from 3.5% in Belém to 4.6% in Santa Maria Maior.
How is rental income taxed in Portugal in 2026?
At 25% on rent less allowed costs, 10% if the rent is up to €2,300 a month (Decreto-Lei 97/2026, for income from 2026 to 2029), and, for permanent housing, 15% on a lease of 5 to 10 years, 10% on 10 to 20 years and 5% on 20 years or more; the lowest rate that applies is used. Residents may choose to add it to their other income at the IRS scale.
Which costs can a landlord deduct?
IMI and stamp duty, the condominium, and repairs and maintenance, including works in the 24 months before the first lease. Mortgage interest, AIMI, furniture and depreciation are not deductible.
Is the 10% rate available to non-residents?
The law does not exclude them, but the tax authority has not clarified it. Without it, a non-resident landlord pays 25%, or less on a lease of 5 years or more.
- INE, Estatísticas de Rendas da Habitação ao nível local, release of 29 September 2026: indicator 0014696, median rent of new leases in the last 12 months (Metodologia 2026), 12 months to the 2nd quarter of 2026, by parish; quarterly median for the city (€17.79/m²): indicator 0014706
- Prices: INE, Estatísticas de Preços da Habitação ao nível local, release of 23 October 2026, 12 months to June 2026
- CIRS art. 72 (rates on rental income) and art. 41 (deductible costs) — Portal das Finanças; Decreto-Lei 97/2026 (EBF art. 45-C, 10% rate for rents up to 2.5 × the minimum wage; RSAA) — text
- Minimum wage 2026 €920 (Decreto-Lei 139/2025); IMI as in the cost-of-owning calculator
All figures are estimates to compare options; they are not tax, legal or financial advice. A Portuguese lawyer or tax adviser should confirm your own case before any signature.
General information, not legal, tax, financial or mortgage advice. Rules, rates and prices change: check the date on this page and confirm your case with a Portuguese lawyer, tax adviser or bank before you decide. Legal notice and disclaimer.