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Median house rental value of new lease agreements increased 10.5% and 18 of the 24 most populous municipalities recorded higher growth rates than the country
House rental statistics at local level
Median house rental value of new lease agreements increased 10.5% and 18 of the 24 most populous municipalities recorded higher growth rates than the country - 3rd Quarter 2023
22 December 2023

Summary

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.


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