In the 2nd quarter of 2024, the median house rental value of the 23,181 new lease agreements in Portugal was 8.08 €/m2. This value represents a year-on-year growth of 11.1%, higher than that observed in the previous quarter (10.7%). When compared to the 2nd quarter of 2023, the number of new lease agreements increased by 6.9%.
Compared to the 2nd quarter of 2023, the median house rental value increased in all NUTS 3 sub-regions, except for Região Autónoma dos Açores (-2.8%) and Alto Alentejo (-0.3%). The highest values were recorded in Grande Lisboa (12.99 €/m2), Região Autónoma da Madeira (10.26 €/m2), Península de Setúbal (10.07 €/m2), Algarve (9.52 € /m2), Área Metropolitana do Porto (8.89 €/m2) and Alentejo Litoral (8.52 €/m2).
In the 2nd quarter of 2024, there was a year-on-year increase in the median house rental value in the 24 municipalities with more than 100 thousand inhabitants, standing out Funchal (37.5%), with the highest year-on-year growth rate, and Lisboa with the highest median rental value (16.00 €/m2), although the
year-on-year growth rate (5.1%), was lower than the national one (11.1%). Ten of the 24 municipalities with more than 100 thousand inhabitants presented year-on-year growth rates of the number of new lease agreements higher than the national rate (6.9%), highlighting Funchal (40.0%) and Leiria (25.4%), with the greatest variations.