The rents that have to be reviewed now may rise a maximum of 2.2% if the new housing rental reference index published this Thursday by the National Institute of Statistics (INE) is applied. The measure, which arrives with the new year, is included within those established by the Housing Law of 2023 to try to contain rental prices with the aim of avoiding disproportionate increases in a market on the limit due to a lack of supply and a demand on the rise since interest rate hikes began in summer 2022.
The index will be published monthly to be applied as a limit in the annual update of housing rental contracts signed after May 2023. The INE calculates it based on the CPI, underlying inflation and the differences between annual growth rates both the CPI and the underlying inflation of each month, and a parameter, defined at the proposal of the General Directorate of Economic Policy, which is related to its expected long-term growth.
A moderating coefficient defined by a joint proposal of the General Directorate of Housing and Land of the Ministry of Housing and Urban Agenda and the General Directorate of Economic Policy of the Ministry of Economy, Commerce and Business will be applied to these differences, taking into consideration the circumstances. of the housing rental market.
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