Official INE data has shown that from January 1st, 2024, landlords can increase the rent up to 6.94%. If the Government decides not to apply any brake to this increase – as happened this year when a 2% limit was in force for updating rents – this will be the reference value for the increase in most rental contracts. And it will be the biggest increase in rents in the last 30 years.

But this value will only be official after it is published in the Diário da República, which should happen by October 30, according to ECO.

If the 6.94% update is applied in 2024, rents will experience a steeper rise compared to the 5.43% increase that would be in force this year, but which ended up remaining at 2% due to the Government's decision offering tax compensation to landlords.

The coefficient of 6.94 is the same for all contracts covered by the law, but the variation in euros will depend on the current value of the income. For example, a rental contract with a value of 100 euros per month will be 106.94 euros, an increase of 6.94 euros. A rental contract with a value of 500 euros per month will increase by 34.70 euros. For contracts with values of 1,000 euros, the new year will bring an increase of 69.40 euros in rents.