Rents increase again

  • 3 October, 23

The median rent for new housing rental contracts increased by 11.0% in the second quarter, to 7.27 euros per square meter, the biggest year-on-year increase since the second quarter of 2021.

According to the “Housing Income Statistics at Local Level” published by the National Statistics Institute (INE), the 11.0% year-on-year growth in the median income of new family housing rental contracts from April to June, represents an acceleration compared to the 9.6% increase recorded in the previous quarter.

Overall, compared to the period from January to March, median income increased 7.7% in the second quarter.

In terms of numbers, the 20,750 new lease contracts signed from April to June represent a year-on-year decrease of 1.2%.

The highest rents were recorded in the Metropolitan Area of Lisbon (11.03 euros per square meter (€/m2)), Algarve (8.35 €/m2), the Autonomous Region of Madeira (8.04 €/m2) and in the Porto Metropolitan Area (€7.87/m2).

Cre: Portugalnews

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