Rent A house in Spain is getting more and more expensive. Indicators show that the trend is accelerating even during this summer. market lease live a 2022 widespread price increases which has accelerated in recent weeks. According to the latest price report of the Idealista real estate portal, Average rent in Spain reached 11.3 euro/m2 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. Rental prices broke all records in more than half of Spain this year. In 12 capitals, rents marked maximums in July (Alicante, Valencia, Murcia, Malaga, Santa Cruz de Tenerife, León, Lleida, Logroño, Vitoria, Santander, Zaragoza and Toledo), while in the other 23 rentals they marked maximums. semester. Barcelona remains the capital with the most expensive rents It reaches an average price of 17.4 euro/m2/month from Spain. It is followed by Madrid (15.9 euro/m2/month), San Sebastián (15.5 euro/m2), Bilbao (12.6 euro/m2) and Palma (12.1 euro/m2).
Compared to June, prices increased by 0.7 percent on average In Spain, on the other hand, it increased by 3.8% on average across the country compared to the last quarter. Rents increased by double digits in cities such as Barcelona, Girona, Alicante, Huelva, Cuenca, Cáceres and Almería compared to 2021.
For example, A Coruña, Lugo, Burgos, Segovia, Huesca, Girona, Guadalajara, Cáceres, Córdoba, Jaén, Almeria, Huelva and Las Palmas de Gran Canaria reached record average prices in June, while Teruel, Zamora, Cuenca, Salamanca, Pontevedra, Tarragona and Cádiz did so in May, a month after Ávila and Castellón de la Plana. Rents in Soria also reached record levels this year; Especially in February.
Just 15 capital still below the maximum monthly income marked during previous crises. Rent peaks in Oviedo and Ciudad Real remained in 2010 (in February and December, respectively, following the economic and financial crisis of that year), while in others the record was recorded between 2021 and 2020. ‘incarceration effect’.
Exchange
The residential rental market and the market for sale maintain communicating vessels and influence each other. The current situation is marked by very little new home development and remodeled second-hand housing supply on the market. Renovated rental houses increased material costs.
Idealistic experts remind that in the midst of the pandemic, the average prices for May 2020 in cities such as Madrid, Barcelona, Palma de Mallorca and Seville have not yet been reached. “It should not be forgotten that in the worst moments of covid, when the market is almost closed, prices skyrocketed. As restrictions eased, supply increased and rents fell sharply,” they explain.
Only four capitals are at least 5% off their own records. Rents are down 6.4% in Ourense and Teruel, the current distance in Ciudad Real is 6.3% and in Madrid 5.1%. Average rental price in 13 other capitals (Pontevedra, Salamanca, Palma de Mallorca, Cáceres, Granada, Huesca, Segovia, Ávila, Cuenca, Seville, Soria, Bilbao and Zamora) between 2.1% and 4.8% below the maximum.
In 14 other provincial capitals, including Barcelona, Pamplona, Las Palmas de Gran Canaria, A Coruña or Córdoba, they are already very close, with distances of less than 1%. Finally, in cities such as San Sebastián, Oviedo, Palencia, Burgos, Girona or Tarragona, the difference between the current rental price and the record price varies between 1% and 1.5%.
Zamora It is the capital with the cheapest rent. In the national market with 5.7 euro/m2; This is followed by Ourense and Ciudad Real (5.9 euro/m2 in both cases), the only capitals where prices did not exceed the heights of the economic and financial crisis.