The price of garage rentals in Spain rose by 0.9 percent over the past year when compared with 2022, and by 1.3 percent against five years ago in 2018, according to the study Variación acumulativa de los garajes en España en 2023. The figures are based on December garage rental prices from the Fotocasa Housing Index, spanning eight years of data.
Rental prices have been slowly recovering after a dip in 2021. Since the start of the pandemic, the automotive sector faced a chip shortage, challenging logistics, rising energy costs, and higher interest rates. These factors affected vehicle registrations in recent years and have kept the market from returning to pre-2020 levels. The data indicate stable demand for rentals and less pressure on the market than in prior years, according to Fotocasa studies disclosed by Maria Matos, the director of Studies at Fotocasa.
Reviewing prices from 2018 shows that the average monthly rent for garages has increased by 1.3 percent over five years. In 2018, Spaniards paid an average of 72.64 euros per month for garage rentals, while the 2023 average sits at 73.59 euros per month.
Asturias sees the steepest decline
Looking at regional variations, Asturias records the largest drop in garage rental prices over the last year, down by 9.2 percent. Andalucía shows a marginal decline of 0.03 percent, in line with Fotocasa’s regional analysis for the period.
Among the fifteen autonomous communities where prices rose, the biggest increases occurred in the Balearic Islands with 8.9 percent, La Rioja with 7.8 percent, Aragon with 7 percent, the Region of Murcia with 4.9 percent, and the Valencian Community with 4.3 percent. Other regions posted smaller gains, including Cantabria, Canary Islands, Navarra, the Basque Country, Madrid, Galicia, Castile and León, Castile-La Mancha, Extremadura, and Catalonia, each recording single-digit growth.
The autonomous communities with the highest average monthly garage rental prices are the Balearic Islands at about 93.38 euros, Cantabria at 92.44 euros, the Basque Country at 87.70 euros, Catalonia at 79.54 euros, and Madrid at 78.58 euros per month.
Major cities driving price gains
In 2023, nine of ten studied cities saw higher garage rental prices compared with the previous year. The top city increases were Tarragona at 10.1 percent, Palma de Mallorca at 9.4 percent, Santiago de Compostela at 8.7 percent, Sabadell at 8.5 percent, and Cornellà de Llobregat at 8.2 percent.
Conversely, eleven cities posted declines in garage rental prices. Gijón led with a 7.4 percent drop, followed by Seville at 5.2 percent, Burgos at 5.1 percent, Sant Cugat del Vallès at 2.8 percent, and Mataró at 2.3 percent.
Madrid districts and price movements
Within Madrid, nine of the twelve districts analyzed showed a decrease in garage rental prices year over year. The districts with the largest declines were Tetuán at 16 percent, Arganzuela at 14 percent, Chamberí at 13 percent, Centro at 12 percent, and Chamartín at 10 percent.
Only three districts registered price increases, led by Moncloa-Aravaca with 9.2 percent, followed by Fuencarral-El Pardo at 5.7 percent and Hortaleza at 2.2 percent.
The ranking of Madrid districts by monthly garage rental costs starts with Centro at 114.81 euros, Chamberí at 107.14 euros, Salamanca at 105.91 euros, Moncloa-Aravaca at 90.68 euros, and Chamartín at 90.52 euros per month. The more affordable districts include Villa de Vallecas at 48.03 euros, Puente de Vallecas at 55.44 euros, Latina at 59.92 euros, Carabanchel at 62.81 euros, and Hortaleza at 64.38 euros.
Barcelona and surrounding districts
In Barcelona, nine of ten districts analyzed experienced a decrease in garage rental prices in 2023 compared with the previous year. The declines were led by Sant Andreu at 39.4 percent, Sants-Montjuïc at 19.3 percent, Gràcia at 15.7 percent, Sant Martí at 13.3 percent, and Eixample at 11.5 percent. In contrast, Ciutat Vella stood out with a 6.7 percent increase.
The district rankings by monthly garage rental costs place Ciutat Vella first at 105.48 euros, followed by Sarrià-Sant Gervasi at 93.40 euros, Les Corts at 92.50 euros, Horta-Guinardó at 86.37 euros, and Eixample at 84.95 euros. The most affordable districts are Sant Andreu at 48.69 euros, Sants-Montjuïc at 72.82 euros, Nou Barris at 80.46 euros, Gràcia at 81.15 euros, and Sant Martí at 81.89 euros per month.
These findings reflect a broader trend across major Spanish cities, where price movements in minimal storage spaces like garages tend to mirror shifts in urban mobility patterns, supply chains, and local demand. The study draws on a consistent methodology used by Fotocasa to track monthly rental values across regions and cities, providing a comparative snapshot for households and businesses planning storage and parking solutions in 2023 and beyond.