In 2023 (results for the last 12 months ending in the 2nd semester of 2023), the median house rental value of new lease agreements in Portugal was 7.21 €/m2, with sub-regions of Grande Lisboa (11.93 €/m2), Península de Setúbal (8.92 €/m2), Algarve, Região Autónoma da Madeira (both with 8.33 €/m2) and Área Metropolitana do Porto (7.98 €/m2) recording higher values than the national one.

In the 4th quarter of 2023, the median house rental value of the 23 637 new lease agreements in Portugal was 7.71 €/m2. This value represents a year-on-year growth of 11.6%, higher than that observed in the previous quarter (10.2%). When compared to the 4th quarter of 2022, the number of new lease agreements increased by 4.5%.

Compared to the 4th quarter of 2022, the median house rental value increased in all NUTS 3 sub-regions, except for Região Autónoma dos Açores, where it decreased by 3.2%. The highest values were recorded in Grande Lisboa (12.54 €/m2), Península de Setúbal (9.65 €/m2), Região Autónoma da Madeira (9.30 €/m2), Algarve (9.09 € /m2) and Área Metropolitana do Porto (8.64 €/m2).

In the 4th 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, with Funchal (23.1%), Setúbal (21 .1%) and Vila Franca de Xira (20.3%) standing out with increases of more than 20%. Lisboa had the highest median rental value (15.51 €/m2), although the year-on-year growth rate was lower than the national one (9.8%). The number of new lease agreements decreased, compared to the same quarter last year, in six of the 24 municipalities with more than 100 thousand inhabitants, most notably in Maia (-13.1%) and Funchal (-10.3%).