After the falls, the income stabilized in Lisbon. How much does a square meter cost?
In the 1st quarter of 2024, the rents of new residential lease contracts in Lisbon showed a variation of 0.4% in relation to the previous quarter.
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Economia Rendas
After two quarters of decline, rental prices in Lisbon stabilized in the first three months of the year, according to the Residential Rental Index calculated by Confidencial Imobiliário and released this Tuesday.
"In the 1st quarter of 2024, rents for new residential lease contracts in Lisbon showed a variation of 0.4% compared to the previous quarter", we can read in a statement to which Notícias ao Minuto had access.
This stabilization, explains Confidencial Imobiliário, "follows two quarters of falling rents and keeps the market in the containment record that it has observed since the middle of last year".
How much does a square meter cost?
According to the data released, in the 1st quarter of 2024, the average contracted rent in Lisbon was €18.8/m2 and in Porto it was €14.5/m2, according to data from SIR-Arrendamento.
It should be recalled that "rents in Lisbon began to recover from the losses recorded during the pandemic in the second half of 2021, observing, from then on, increases that reached 10% and that were almost always above 4.0%".
"However, in the face of these growth levels, which led rents to increase by 30% in the space of a year, naturally, new contracts tended to slow down the increases. Thus, in the 3rd quarter of last year, rents for new leases fell for the first time in two years, with a quarterly variation of -0.5%, and the 4th quarter not only confirmed the downward trend but also made it more vigorous, with contracts made in that period registering rents 2.2% lower than in the previous quarter", we can read.
Leia Também: Após "dois meses de estabilidade", rendas encareceram 1,7% em abril (Portuguese version)
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