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OFFERS FOR HOME RENTALS DECREASE AS THE PRICES FOR RENT RISE

OFFERS FOR HOME RENTALS DECREASE AS THE PRICES FOR RENT RISE
By Joana P. . 4 years

The housing market in Portugal is undergoing a profound change, especially in Lisbon and Porto. As you are witnessing the growth of tourist accommodation, this reduces the number of homes for the traditional lease.

Property lease prices have increased in the local housing segment. In Lisbon, according to the APEMIP accounts (association of real estate companies), rents have increased in some areas of the city between 30% and 40%.

According to the data from the National Statistics Institute (INE), Portugal had 110,000 homes available for rental housing in 2011. However the President of APEMIP - Luis Lima, has reduced this number to 90.000, due to bad property maintenance conditions of the other 20.000 properties.

Read more at: Público.