In the 4th quarter of 2022, the median rent of the 22,628 new leases in Portugal reached 6.91 euros per square meter (€/m2), according to the National Institute of Statistics (INE).
"This value represents a year-on-year growth of +10.6%, higher than that observed in the previous quarter (+7.7%)", stresses the INE.
Compared to the 4th quarter of 2021, median income increased in all NUTS III sub-regions.
The highest rents were recorded in the Lisbon Metropolitan Area (10.38 €/m2), Algarve (8.06 €/m2), Porto Metropolitan Area (7.62 €/m2) and the Autonomous Region of Madeira (7.54 €/m2), with these sub-regions also showing higher year-on-year growth than the country.
Still in the 4th quarter of 2022, there was a year-on-year increase in median income in the 24 municipalities with more than 100,000 inhabitants.
"The municipalities with higher values of new lease contracts also registered a year-on-year growth higher than the country: Lisbon (14.13 €/m2 and +22.4%), Cascais (13.66 €/m2 and +21, 0%), Oeiras (12.65 €/m2 and +23.9%) and Porto (10.64 €/m2 and +16.3%)", can also be read.