Over the year, the cost of renting houses in Portugal increased by 4.2%

Housing rents increased in all regions of the country, especially in Madeira, where growth was more intense, amounting to 4.8%. This data is provided by the National Institute of Statistics.

According to INE, compared to February, the average rent per square meter of living space recorded a change of 0.5%. In Madeira the change was 0.7%. Additionally, there were no regions with a negative change in their respective average home rents during this period. The stronger price growth in Madeira is partly due to the growing number of “digital nomads” living in the region. Recently, many Portuguese families are moving here in search of better conditions for work and family life.

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