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Median house rental value of new lease agreements increased 9.4% and the number of new lease agreements decreased -1.7% compared to the same period in the previous year
House rental statistics at local level
Median house rental value of new lease agreements increased 9.4% and the number of new lease agreements decreased -1.7% compared to the same period in the previous year - 1st Quarter 2023
27 June 2023

Summary

In the 1st quarter of 2023 (provisional data) the median house rental value for the 24 300 new lease agreements in Portugal was 6.74 €/m2. This value represents a year-on-year growth of +9.4%, nevertheless it is lower than the year-on-year growth rate recorded in the 4th quarter of 2022 (+10.6%). The number of new lease agreements decreased -1.7% compared to the 1st quarter of 2022, having been -3.3% in the previous quarter.

Compared to the 1st quarter of 2022, the median house rental value increased in all NUTS 3 sub-regions, with four of them presenting values higher than the national reference. The highest rental values were scored in Área Metropolitana de Lisboa (10.26 €/m2), Algarve (7.81 €/m2), Região Autónoma da Madeira (7.73 €/m2) and Área Metropolitana do Porto (7.29 €/m2), with these sub-regions also presenting higher year-on-year growth than the country.

In the 1st quarter of 2023, there was a year-on-year increase in the median house rental value in the 24 municipalities with more than 100 thousand inhabitants and in 15 there was a deceleration in the median house rental value (9 municipalities in the previous quarter). The municipalities with higher rental values on new lease agreements also recorded year-on-year growth higher than the country – Lisboa (14.50 €/m2 and +20.6%), Cascais (13.09 €/m2 and +16.6%), Oeiras (11.76 €/m2 and +12.1%) and Porto (11.25 €/m2 and +22.1%) – nevertheless there was a deceleration of the rental values, except for Porto (+5.8 p.p.).


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