For the first time in 10 years, frozen rentals, or “rendas antigas“, which are defined as being rentals from before 1990, may be updated using the yearly rental increase coefficient published by the statistics institute, INE, which is 6.94% for 2024. A source from the office of the Minister of Housing, Marina Gonçalves, confirmed to Expresso that, “from next year, frozen rental contracts will be updated by applying the INE legal coefficient”.

The INE estimates that there 151,620 of these frozen “rendas antigas” contracts from prior to 1990, which represents 16% of the total registered contracts.

It has already been confirmed that more recent renewable rental contracts may be updated by the official 6.94% increase, and we remind our readers that we have provided a template letter to inform tenants of this increase.

(Taken from the article below, in Portuguese)
https://expresso.pt/economia/economia_imobiliario/2023-11-02-Rendas-antigas-serao-descongeladas-e-atualizadas-pela-inflacao-0cc1c84c