Average rents for new residential leases rose by 11.0% in the second quarter, to €7.27 per square meter, the biggest year-on-year increase since the second quarter of 2021, INE reported this Thursday.
According to the “Local Housing Income Statistics” published this Thursday by the National Institute of Statistics (INE), the 11.0% year-on-year increase in average income from new family rentals from April to June represents an acceleration in growth. compared to the 9.6% growth recorded in the previous quarter.
Overall, compared with the January-March period, average revenue increased 7.7% in the second quarter.
In quantitative terms, the 20,750 new leases signed from April to June represent a decrease of 1.2% compared to the same period last year.
Compared to the second quarter of 2022, average income increased in 22 of the 25 NUTS III subregions, decreasing in the Terras de Tras os Montes (-2.3%) and Central Alentejo (-2.2%) subregions and maintaining value in Beiras and Serra da Estrela.
The highest rental rates were recorded in the Lisbon Metropolitan Region (11.03 euros per square meter (Euro/m2)), the Algarve (8.35 EUR/m2), the Autonomous Region of Madeira (8.04 EUR/m2) and Porto . Agglomeration (7.87 euro/m2).
From April to June, INE also shows an increase in average income year-on-year in 24 municipalities with a population of more than 100 thousand people, highlighting Lisbon (15.23 euros/m2 and +20.8%) and Oeiras (13.22 euros/m2 and +20.2%).
“It is also worth noting the municipalities of Vila Franca de Xira (+20.7%) and Guimarães (+20.6%), where fluctuations compared to last year exceed 20%. At the same time, the number of new contracts decreased quarter-on-quarter in 13 municipalities, highlighting Funchal (-21.7%) and Lisbon (-19.0%),” he adds.
In the second quarter of 2023, 3rd quartile rents were higher than the national value (€11.01/m2) in metropolitan areas such as Lisbon (€15.00/m2) and Porto (€11.22/m2), and also in the Algarve. (11.38 euro/m2).
In the Lisbon metropolitan region, the median rent value was higher than the 3rd quartile value of all other NUTS III subregions, with the exception of the Algarve metropolitan region and Porto.
Author: Lusa
Source: CM Jornal
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