Rental prices in Portugal: increases of 3.1% in April

Lisbon shows "more intense" increases in the data included in the Consumer Price Index (CPI) released by the National Institute of Statistics in Portugal (INE).

Photo by CoWomen on Unsplash
Photo by CoWomen on Unsplash
21 May 2020, Redaction

House rental prices per square metre (m2) rose 3.1% in April 2020 in Portugal, compared to the same period in the previous month (March). According to the Consumer Price Index (CPI), released by the National Statistics Institute in Portugal (INE), all regions showed positive year-on-year changes in housing rental prices, with Lisbon registering the highest increase (3.7%).

According to data from INE, the average value of housing rent registered a monthly variation of 0.1%, a value lower by 0.2 percentage points than that registered in the previous month. Northern Portugal presented the highest monthly variation, with a rate of 0.2% and the Autonomous Region of Madeira presented the most significant reduction, with a rate of -0.2%.

However, INE stresses that the COVID-19 pandemic and the consequent restrictions on trade and services required new approaches in the calculation of the CPI. For the first time, in April 2020, it was necessary to calculate the CPI without resorting to the field work of surveyors.

"This was unprecedented and it was necessary, in a very short period of time, to modify the price collection in order to guarantee the calculation of the CPI. It should be noted that the CPI includes a significant number of prices obtained through administrative channels, which were not affected by these restrictions, with particular emphasis on housing rents from electronic rental receipts", INE further stresses.

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