7th April 2026
Looking at March compared to February, new rental transactions declined significantly:
Renewals also dropped, but less in apartments:
At first glance, this might look like demand is weakening.
But that’s not the full picture.
What we’re seeing is a mix of two things:
This is typical during periods of uncertainty.
At the same time, renewals, especially in apartments are holding better.
People are choosing stability. They’re staying where they are instead of making new moves.
When we look at prices, the picture becomes clearer.
Apartment rents have continued to increase:
For villas:
So while activity has slowed, prices, especially for new contracts, we have not seen a broad correction.
Not really. This is not a price correction. It’s a slowdown in activity.
One important thing to keep in mind is that rental data has a lag.
What we’re seeing in March is still partly influenced by February, which means April will give us a much clearer direction.
For now, the market hasn’t weakened. It has paused.
And how things evolve from here will largely depend on how long the current situation continues.
In times like this, it’s important not to react to headlines, but to understand what the data is really showing.
Because a drop in activity does not always translate into an immediate drop in prices.