The National Institute of Statistics (INE) published this Thursday the new Reference Index of Housing Leases, which sets it at 2.2% for November.
The price updates for rental contracts signed since May 25, 2023, with the new housing law, will have to take into account this index that will be renewed monthly.
Following its publication, the Ministry of Housing and Urban Agenda has launched an informative web tool so that landlords and tenants know what is the maximum price that the rent can be updated under the agreed lease agreement.
Rental income update calculator
The tool takes into account the Consumer Price Index and the Housing Rental Reference Index prepared by the National Institute of Statistics to calculate the updates, in compliance with the first final provision of the Law on the Right to Housing.
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In this way, once landlords and tenants select which calculation method for the update is included in the lease agreement and enter the current monthly rental price, the website will calculate the maximum price to which the rent can be updated, in compliance with article 18 of the Urban Leasing Law.
The Law reflects that, for contracts signed after the entry into force of the Law on the Right to Housing or that contemplated the use of the Housing Rental Reference Index prepared by the INE, it will be used as a limit for the annual update of housing rental contracts will be the minimum value between the annual variation rate of the Consumer Price Index, the annual variation rate of the underlying Consumer Price Index and the adjusted average annual variation rate.
