In the 3rd quarter of 2023 (provisional data), the median house rental value for the 23 717 new lease agreements in Portugal was 7.25 €/m2. This value represents a year-on-year growth rate of +10.5%, although it is lower than the one observed in the 2nd quarter of 2023 (+11.0%). Compared to the previous quarter, the median house rental value for the 3rd quarter of 2023 slightly decreased (-0.3%).

In the 3rd quarter of 2023, four of the five sub-regions with median house rental values higher than the national also recorded year-on-year growth rates above the country: Área Metropolitana de Lisboa (11.40 €/m2; +12. 5%), Região Autónoma da Madeira (8.79 €/m2; +16.4%), Área Metropolitana do Porto (8.22 €/m2; +12.4%) and Alentejo Litoral (7.47 €/ m2; +15.3%). The exception was the Algarve (8.03 €/m2; +7.4%). Median house rental value increased in all NUTS 3 sub-regions, except for Alto Alentejo (-9.3%) and Alto Tâmega (-2.2%).

In the 3rd quarter of 2023, there was a year-on-year increase of the median house rental value in the 24 municipalities with more than 100 thousand inhabitants. In 18 municipalities, the year-on-year growth rate of the median house rental value per m2 was higher than the national reference, with Setúbal (+23.1%) and Lisboa (+20.9%) standing out. However, in the 3rd quarter of 2023, for 13 of the 24 municipalities with more than 100 thousand inhabitants, there was a slowdown in median house rental value, a situation that occurred for 10 municipalities in the previous quarter.