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Rental Market Sees a Rise of 7% in the Second Quarter

Rents from new residential leases in the country increased by 7% in the second quarter of this year compared to the same period in 2021.

The average rent in the country reached the maximum level of €11.6 per square meter. In Lisbon, it rose to €15.1/m² and in Porto it rose to €12.4/m².

“In Lisbon the increase was 14.6% and in Porto it reached 11.7% in the second quarter year-on-year”

In the capital, new rents increased by 4.9% between April and June this year compared to the previous quarter, the biggest quarterly increase since the end of 2017. In Porto, the quarterly increase was 3.7%.

The year-on-year rise in rents in Lisbon (14.6%) in the second quarter reflects "the strong quarterly increases of last year, always above 2.5%".

A year ago, rents in the capital were falling, accumulating in the second quarter of 2021 a negative year-on-year change of 12%.

In Porto, the recovery of rents only started at the end of 2021, with quarterly increases of more than 3.5%. In this context, rents showed a year-on-year increase of 11.7%, reversing the negative trend of a year ago, when they fell by 9.8%.

Source: INE (Institute of National Statistics)

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