The median rent of the approximately 21,000 new lease contracts carried out in the second quarter of 2022 in Portugal grew 8.6% compared to the same period last year, reaching 6.55 euros per square metre, according to the National Statistics Institute (INE).

This is also the highest year-on-year change since the second quarter of 2021, higher than in the first quarter of this year, at +6.4%.

The 21,005 new lease contracts in the second quarter of 2022 also represent an increase of +2.1% compared to the second quarter of 2021 (with 20,568 new leases), “noting, however, the strong deceleration compared to the behaviour seen in the quarter previous year”.

In this quarter, and compared to the same quarter of the previous year, the median rent increased in all NUTS III sub-regions, with the highest rents being found in the Lisbon Metropolitan Area (9.95 euros/square meters), Algarve (7, 41 €/m2), Autonomous Region of Madeira (7.35 €/m2) and Porto Metropolitan Area (7.06 €/m2).