In October, the tenancies market reached 53,756 registered leases, of which 59.56 percent were new contracts while 40.44 percent were renewed. The annual contracts acquired 89.30 percent of the total contracts, while 10.70 percent were non-annual.
The registered leases for residential purposes acquired around 70.35 percent of the total contracts, while 28.46 percent were registered for commercial purposes.
October’s rental contracts witnessed a 5.9 percent increase compared to September 2022, supported by the annual contracts, which registered 48,006 contracts compared to 44,967 contracts in September 2022 to record a 6.76 percent increase on a manthly basis and 5.74 percent year-on-year.
The registered new contracts reached 32,015 leases in October compared to 30,091 contracts in September 2022 to witness an increase of 6.39 percent compared to September 2022, while the renewed contracts saw a 5.11 percent increase on a monthly basis, Furthermore, the contracts for the residential purposes increased by 4.04 percent, while the contracts for the commercial purposes increased by 9.99 percent on a monthly basis.
