The official notice from the Portuguese National Institute of Statistics (INE) has already been published in the National Official Journal, which sets the coefficient for rent indexation, which in 2024 will be 6.94%. This coefficient is calculated based on the variation in the consumer price index (CPI), excluding housing, and recorded in the last 12 months. Unlike this year, in which the rent index of housing and other rents was limited by the Portuguese government to 2%, not following the rise in inflation and the norms of the New Urban Lease Regime (NRAU), in 2024 landlords will be able to index rents in 6.94% in Portugal.
In return, the government will increase support for current rentals by 4.94%. Tenants with housing rental contracts with an effort rate above 35% and with income up to the sixth income bracket of the IRS will be able to benefit from this support. The deduction of income for IRS goes from the current limit of 502 euros to 550 euros.
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