New data from INE reveals further rises in house rents in April, with the "most intense" seen in Madeira and Lisbon.
Source: Freepik
Author: Redaction
The demand for affordable housing in Portugal has been hampered by the gradual increase in rent prices, which makes Portugal one of the countries where renting a house is already more expensive. Supply is scarce and the Government was even forced to design a strategy to combat this problem, resulting in support and measures to increase the available housing stock.
According to the most recent figures released by the INE (National Statistics Institute), rents in April rose 4.3%, one percentage point more than in March, in a trend that shows no signs of slowing down: "the homologous variation of housing rents per square metre was 4.3% in April 2023 (4.2% in the previous month)".
The "most intense" increase, according to the statistical office, occurred in the Autonomous Region of Madeira, where the increase was 4.9%, and the region with the highest positive monthly variation was the North, which registered 0.5%. As for the negative monthly variation, there was no region verified. Therefore, in comparison to March, the average value of the average rents per square metre increased 0,4%.