The Official Rental Performance Index, September 2023
In September, the tenancies market reached 54,699 registered leases, of which 56.67% were new contracts while 43.33% were renewed. The annual contracts acquired 93.33% of the total contracts, while 6.67% were non-annual. The registered leases for residential purposes acquired around 68.76% of the total contracts, while 30.30% % were registered for commercial purposes.
September’s rental contracts witnessed a 7.73% increase compared to September 2022, supported by the renewed contracts, which increased by 14.6%, along with the annual contracts, which witnessed a significant year-on-year growth of 13.53% and 4% compared to August 2023.