The rental market is experiencing price increases to 2022, accelerating in the summer months. This is indicated in the latest analysis of maximum rental prices by Idealista, a real estate services platform. The Valencian Community is positioned as one of the leaders in this ranking of maximum prices. The state of Valencia reached 9.98 euros per square meter in July, the highest value to date. Moreover Alicante reaches maximum record with 8.68 EurosCastellón, who broke the record with 6.77 euros in April, remained at 6.72 euros.
According to research, Average rent in Spain reached 11.3 euros per square meter With an annual increase of 5.6% in July, which represents the highest increase ever recorded this year and also the most remarkable in the post-Covid era. Prices increased by 0.7% compared to June and by 3.8% on average across the country compared to the last quarter.
The rental price has set records in more than half of Spain so far this year. Rents in 12 capitals, such as Valencia, Alicante, Malaga or Santander, reached their maximum in July, while in 23 other rents reached this level during the first period.
Data from the real estate platform shows how only 15 capital cities are still below the maximums they set during previous crises. Rental peak in Oviedo and Ciudad Real remained in 2010, while in others the record was recorded between 2021 and 2020.
Barcelona remains the capital of the most expensive rental apartments in Spain, with an average of 17.4 euros. It is followed by Madrid (15.9), San Sebastián (15.5), Bilbao (12.6) and Palma (12.1). Zamora is the capital with the cheapest income in the national market at 5.7 euros, followed by Ourense and Ciudad Real with 5.9 euros in both cases.
The community mortgage market showed signs of slowing down last JuneCompared to May, the signing of such housing contracts decreased by 5.7%, according to data released by the National Institute of Statistics (INE). The number of flats and houses in that month was 5,040, the fourth highest record for the autonomies, after Madrid’s 8,026, Andalusia 7,916 and Catalonia 6,905. However, Valencia data is 23.3% higher than recorded in June 2021.
Source: Informacion
Calvin Turley is an author at “Social Bites”. He is a trendsetter who writes about the latest fashion and entertainment news. With a keen eye for style and a deep understanding of the entertainment industry, Calvin provides engaging and informative articles that keep his readers up-to-date on the latest fashion trends and entertainment happenings.