Average rent for residential units climbed 4.4 percent in the third quarter when compared with the same period last year, according to newly released figures from the Statistics and Census Service (known by its Portuguese initials DSEC).
Commercial property rents were slightly down year-on-year. On average, office units, shops and industrial units fell by two percent, 0.6 percent and 0.3 percent respectively.
The city’s average rent per square metre for residential units in the third quarter was 137 patacas, a quarterly rise of 1.6 percent.
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By district, Novos Aterros da Areia Preta was the most expensive area at an average 168 patacas per square metre (a quarterly rise of 4.6 percent).
Smaller apartments (with less than 50 usable square metres) saw an average rent of 168 patacas per square metre, up a quarterly 1.7 percent. Larger apartments had an average rent of 136 patacas per square metre, an increase of 1.4 percent compared with the second quarter.
The average rent per square metre of usable area for industrial units went down by 0.6 percent quarter-on-quarter, to 123 patacas, and that for office units decreased by 0.5 percent to 296 patacas. The average rent for shops dropped 1.1 percent to 491 patacas.
