Rental prices in Alicante are increasing by more than 14% annually

According to data provided by the portal this Monday photo housein October average price per square meter Reached throughout the province 10.68 euros, which represents an increase of 14.3% compared to a year ago. According to the portal, this is a slightly more moderate increase than that experienced before the summer, when the annual increase exceeded 20%, but it should be taken into account that the compared base price is also gradually increasing. higher, which affects this percentage.

In any case, this is an increase well above the national average -Due to the increase in rents throughout the country It stands at 7.1%– but slightly below the regional figure of 17.2%. In this way, Alicante The ninth province where apartments are the most expensive rental, followed by Tenerife, with an annual increase of 25.5%; Balearic Islands with 21.3%; Valencia with 21.1%; Girona (+18.2%); Segovia (+17.3%); Guadalajara (+15.3%); Teruel (+14.8%); and Málaga (+14.8%).

Despite this strong progress, the reality is that average prices in Alicante are still at the same level. slightly lower than the rest of the country. Specifically 4.9%, because the average across the country is 11.23 euros per square meter. It is also still far from the 17.46 euros paid per month in Barcelona, ​​the most expensive province, or 16.76 euros in Madrid.

In any case, there is little consolation for those who want to rent at the moment, because at current levels an 80 square meter apartment represents a large area. monthly payment of 854 euros, Every 100 meters exceeds a thousand euros. Amounts available to an increasingly smaller percentage of the population.

populations

Regarding evolution by population, among those analyzed by Fotocasa, Santa Pola The one that increased its prices the most was in October, reaching 12.39 euros per square meter, with an annual increase of 19.7%. If in second place Benidormrents increased by 17.9%. With an average rent of 15.61 euros (that is, 1,561 euros per month for a 100-metre house), the tourist capital of the Costa Blanca has the most expensive rents of all cities in the Valencian Community seen in the study. about twenty of the largest municipalities in the autonomy, which is already Businesses in the region have problems attracting workers.

Then the third largest increase would be: El Campello14.2% up to 12.08 euros per square meter; then the city Alicanteup 14% (12.16 euros); And alcoyRents increased by 13.9 percent, although still quite affordable, with an average of 6.22 euros per metre.

For your part, Torrevieja The annual increase recorded by the portal was 8.7%, up to 10.21 euros; And AlteaIt increased by 2.4% to 11.48 euros.

more pressure

Data from Fotocasa confirms that the pressure on the rental market continues, and the lack of sufficient offers that adapt to the space and requirements tenants need maintains upward pressure on prices. Tensions have increased in recent months following the introduction of the new Housing Code, which has increased protection for tenants, discouraging many property owners.

Hence a recent report by the Real Estate Association of the Valencian Community (Asicval) estimates that there will be a 40% reduction in the number of apartments available after the new regulations come into force. The increase in interest rates and the resulting increase in the cost of housing loans is driving more and more people to rent while looking for a home because they cannot pay the installments required to repay the loan.