Covilhã Property Prices, Rents & Rental Yields

About Covilhã

Covilhã sits between the Serra da Estrela slopes and inland central Portugal, giving the city a distinctive mountain setting with a strong local identity. For apartment investors, that backdrop matters because it shapes a market that is smaller in scale but closely tied to the city’s everyday housing needs.

September 2026 brings the clearest signal yet: prices are still advancing, but the pace now asks more from returns. The average sale price for apartments reached €188,000, up 3.9% on the month and 17.5% year on year, while the average price per square metre moved to €2,000, even after a 1.7% monthly dip. That combination points to a market where capital values remain under upward pressure even as the latest move in price per metre has paused.

Rental growth has also been positive, though not enough to fully offset the rise in pricing. The average rent is €630, which is 14.1% higher than a year ago, but it edged down 0.4% month on month. As a result, the gross yield sits at 4.74%, a reminder that Covilhã’s apartment market is delivering income, yet investor economics are becoming tighter as sale values climb faster than rents in the short term.