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Housing Rents Costs Fall 11.1% in Lisbon

20 October 2020 – According to a report by Confidencial Imobiliário, residential rental costs fell by 11.1% y-o-y in Lisbon during the third quarter of this year. The figure marks the sharpest decline since Confidencial Imobiliário began publishing its Residential Rents Index in 2010.

At the same time, however, prices in the city of Porto remained positive, even as the pace of growth dropped. Rental price rose by 6.5% y-o-y in the second quarter of this year, compared to just by 1.7% in the third quarter of 2020.

In the Portuguese market as a whole, rental prices grew by 2.2% year-on-year in the third quarter of this year.

Original Story: Jornal Expresso – Vítor Andrade

Translation/Summary: Richard D. Turner