With the cost of home loans escalating, purchasing power reduced by high inflation and house still rising, more and more families are choosing to take refuge in the rental market.
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In Portugal, there is a shortage of houses for rent in the residential market. As a result of high demand, properties across Portugal are only on the market for a short time. To be precise, about 30% of the houses rented in February via idealista were on the Portuguese market less than a week.
Porto and Braga appear in the fDi Intelligence magazine ranking, "European Cities and Regions of the Future 2022/23 - the Best and the brightest among Europe investments destination", published by the British newspaper Financial Times.
Housing rental prices in Portugal are set to rise again in 2022, after remaining unchanged in 2021, but after rising between 2016 and 2020. This, however, will be a slight increase, bearing in mind that, excluding housing, the inflation rate was 0.29% in July.
Milan is the capital of Southern Europe where the effort rate of families to pay the rent of a house is the highest: 42,6%. A figure higher than that registered, for example, in Madrid (36.3%) and Lisbon (35.8%). Another Portuguese city, Setúbal, is in second place in this ranking (40.6%).
Imagine you live in a rented property and the landlord decides that they want to sell it. Do you, as a tenant, have to authorise the landlord to allow visits to the property?
A tenancy deposit to rent a house is often a cause of friction between landlords and tenants. Deposits on rental are regulated legally by the Portuguese Civil Code, but it is not always easy for both parties to understand their rights and responsibilities when it comes to deposits.