Rental market offer increases by 81% in the 1st quarter

"Enhancing real estate availability in the market" in the 1st quarter of the year 

The offer of rental houses increased by 81% in the first quarter of 2024, compared to the same period last year.  

The data is disclosed by the idealista platform, and shared by Notícias ao Minuto, also indicating that the supply of rental properties available in Portugal rose in 19 district capitals in the last year.

"Some initiatives implemented by the previous government in the housing sector seem to be impacting the rental market in Portugal, with a significant increase in the supply of rental properties. Restrictions on Local Accommodation, the end of the Non-Habitual Resident (NHR) regime, and the reduction of taxes on rents may also have contributed to a strengthening of the availability of properties in the market," according to the news article, quoting Ruben Marques, spokesperson for Idealista.   

He considers, however, that "the next few months will be crucial to observe the behavior of the rental market, taking into account the evolution of the economic and political context, namely the repeal of some measures of Mais Habitação as recently announced by the new Government".

In the 19 district capitals where the supply of rental housing increased, the following were: Bragança (191%), Porto (129%), Leiria (128%), Lisbon (102%), Aveiro (99%), Braga (92%), Coimbra (84%) as the district capitals where the supply of rental housing increased the most. Next are Castelo Branco (73%), Faro (71%), Vila Real (67%), Beja (64%), Funchal (55%), Setúbal (55%), Guarda (29%), Évora (28%), Ponta Delgada (17%), Santarém (10%), Portalegre (8%), and Viseu (3%).  

Contrary to Viana do Castelo, where it was the only city where supply decreased by about 2%.  

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