“The year-on-year change in housing rents per m2 was 2.9% in September 2022 (2.8% in the previous month). All regions showed positive year-on-year variations in housing rents, with Lisbon registering the most intense increase (3.1%)”, concludes the national statistics office (INE).

According to the INE, in monthly terms, that is, in September compared to October, the average value of housing rents per m2 registered a variation of 0.3%, similar to the value verified in August, compared to July.

“The regions with the highest positive monthly variation were the North and Algarve (0.4%), with no region having been observed with a negative variation in the respective average value of housing rents”, reads the INE bulletin.

Rise in rents limited to 2% in 2023

The Government has decided to put a brake on the rise in rents in 2023. The increase would be 5.43%, the value indexed to inflation, but it will only be 2%, this being one of the measures announced by the Executive to combat, precisely, the increase in the inflation rate, which in September accelerated to 9.3%, the highest value since October 1992.

To compensate landlords, who are limited to increasing rents up to a maximum of 2%, the Government has announced that it will grant them tax benefits. According to the information contained in the State Budget for 2023 (OE2023), these compensations will cover about one million landlords and will cost the State €45 million.