Portuguese rents increase more than 1% in 2018

  • ECO News
  • 11 August 2017

If landlords want to increase rents, they will have to warn tenants by means of a registered letter, at worse 30 days before the day of the update.

Rents will likely suffer an over 1% increase next year, at a growth rate which hadn’t happen since 2013. The math is done by the Portuguese newspaper Público, based on the last 12 months’ variation of the Consumer Prices Index, without housing, disclosed this Thursday by Statistics Portugal (INE).

The final amount of the ratio used to update rents, concerning August, will only be disclosed in September, but the data already published makes it possible to conclude the increase in rents should be of around 1.1% in August. This means that a 300 euros per month rent could increase three euros, while a 600 euros’ rent could suffer a six euros increase.

This information will only be published in the Portuguese Official Journal in October, after INE discloses, in September, the rent update ratio. Only then can landlords inform their tenants of the increase in rents.

It is not mandatory for landlords to increase the rents’ prices, but if they decide to do so, the tenant has to be notified by means of a registered letter with a proof of receipt, at least 30 days before the day of the increase.