In the 3^rd quarter 2022,

Number of new lease agreements and the house rental value per square meter in the Autonomous Region of Madeira increased when compared to the previous quarter and year-on-year

According to information released today by Statistics Portugal (INE), in the 3^rd quarter of 2022, the median house rental value of the 318 new lease agreements of dwellings in the Autonomous Region of Madeira was 7.52€/square meter. Compared to the previous quarter, there was an increase of 2.3% both in new lease agreements and in the median value of the rents. By the same order, this represents a +2.6% and +18.1% growth when compared to the third quarter of 2021.

Regarding house rental value by square meter, the Autonomous Region of Madeira was the second region with the highest value among the 25 NUTS III regions (7.52€/square meter), behind Área Metropolitana de Lisboa (10.16 €/square meter), followed by the Algarve (7.49 €/m²) and Área Metropolitana do Porto (7.27 €/m²), in third and fourth position, respectively. It should be noted that the national average stood at 6.55€/ square meter (the same value as in the previous quarter).

In the reference period, Funchal, one of the cities with 100,000 or more inhabitants in the country, concentrated 224 of the 318 new lease contracts, reflecting a quarterly growth of 13.1% and a year-on-year of 7.7%. The median house rental value of these 318 agreements was 8,62€/square meter, increasing by 3.5% from the previous quarter and increasing by 20.2% year-on-year.

Establishing a ranking of the country's municipalities, Funchal occupied the 10^th position in the highest rental value, after Lisbon, Porto and several municipalities of Área Metropolitana de Lisboa and Área Metropolitana do Porto.

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