The Official Rental Performance Index, October 2023
In October, the tenancies market reached 60,963 registered leases, of which 56.50% were new contracts while 43.50% were renewals. 93.52% of the total contracts were for annual leases, while 6.48% were non-annual. The registered leases for residential purposes contributed to 66.69% of the total contracts, while 32.32% were registered for commercial purposes.
October’s rental contracts witnessed a 13.41% increase compared to October 2022, supported by the renewed contracts, which increased by 21.97% by registering 26,517 contracts, along with the annual contracts, which witnessed a significant year-on-year growth of 18.76% and 11.68% compared to September 2023 by registering 57,014 contracts.