Portugal Real Estate Rentals Up 6.5% in February 2024: Demand Outstrips Supply
Discover why house rents have surged by 6.5% in February 2024 as demand for rental properties continues to exceed supply.
According to the latest data released by the National Institute of Statistics (INE), the year-on-year variation in housing rents per square meter saw a 6.5% increase in February 2024, up from 5.9% in the previous month. This upward trend was observed across all regions, with Lisbon experiencing the most significant surge at 6.8%. However, the monthly increase in house rents has shown signs of slowing down, with the average value of housing rents per square meter recording a 1.0% variation, down from 1.4% in the previous month. In terms of monthly changes, Lisbon once again led the way with a 1.2% increase in house rents. Notably, there was no region that reported a negative variation in the average value of housing rents.
The Portugal real estate rentals market continues to show resilience and growth, with prices steadily increasing across the board. The data from INE highlights the ongoing demand for rental properties and the impact of market forces on pricing. As we move forward, it will be interesting to see how these trends evolve and whether any regulatory measures will be implemented to address affordability concerns for tenants.
Portugal Real Estate Rentals Up 6.5% in February 2024: Demand Outstrips Supply
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