The rents in Portugal rose 9.2% to an average of five euros per square meter in the first half of the year, shows the National Statistics Institute (INE).
Rents on housing rose by 9.2% to a national average of five euros per square meter in the first six months of the year. But there were 37 municipalities with values well above the average, while the value of the square meter in Lisbon is more than double the country average, show data from the National Statistics Institute (INE). The number of new leases decreased by 10.5%.
At the end of the first half of the year, 71,369 family housing leases were made in the country, with the median value of rents set at five euros per square meter, according to INE. This increase is in line with the 10.1% rise in house prices in the second quarter.
Lisbon continues to maintain its status as the most expensive city in the country. In the Lisbon Metropolitan Area (AML), where 23,562 lease contracts were signed – equivalent to one third of the total – the value of rents was set at 7.54 euros per square meter. However, if we consider only the municipality of Lisbon – the most expensive in the country – the values rise to 11.71 euros per square meter.
In turn, the Metropolitan Area of Porto (AMP), where 12,431 new lease contracts were registered, the value of rents was set at 5.42 euros per square meter, according to INE. However, if we analyze only the municipality of Porto, these rose to 8.33 euros per square meter.
The municipality with the cheapest rents in the country is Moimenta da Beira, with the square meter costing 1.86 euros. The median value of rents in Lisbon is six times higher than in this municipality of Beira Baixa.