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Rents Post Largest Fall in Ten Years

22 July 2020 – Housing rental costs in Lisbon, during the second quarter of this year, suffered the most significant drop in ten years. Between April and June, rents in the capital fell 6.9% q-o-q and by 8.7% y-o-y, according to Confidencial Imobiliário’s Residential Rents Index (IRR).

Nationally, rents also fell during the second quarter, dropping by 2.8%, again, the most substantial contraction of the last ten years. Even so, rents in mainland Portugal remain 2.4% above the same period in 2019.

Rents in Porto, however, were stable, up by 0.4% q-o-q. Year-on-year, rents rose by 6.5%.

Original Story: Jornal de Negócios – Ana Batalha Oliveira

Translation/Summary: Richard D. Turner