The average rental price in Spain has risen more than 5% in the last year
ABCMadrid Updated: 04/11/2022 10:18 a.m.
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The average rental price in Spain in the first quarter of the year reached
€10.14 per square meter. This represents a monthly rise of 0.30%, a quarterly rise of 1.6% and a year-on-year rise of 5.09%. The most expensive cities to live for rent were Barcelona with a price per square meter of 17.75 euros, Madrid (15.59 euros/m²) and Donostia-San Sebastián (15.54 euros/m²), according to a report published by the real estate portal
Flats.com. At the other extreme, Zamora was the cheapest with 5.41 euros per square meter.
Ourense (6.01 euros/m²) and Cuenca (6.08 euros/m²) also have a very affordable rental price. The capital of Zamora was the city that had the greatest quarterly increase with 8.4%, while Toledo (-3.91%) was the town that devalued the most in this period.
If we take March of last year as a reference, the greatest increase takes place in Lugo (19.84%) while Ourense has led the falls with 9.79%.
In the quarterly analysis carried out by Pisos.com, the most expensive regions to live for rent in March 2022 were Madrid (12.60 euros/m²), the Balearic Islands (11.93 euros/m²) and Catalonia (11.36 euros /m²). On the other hand, the cheapest autonomous communities when it comes to renting have been in Castilla y León with an average price of 4.66 euros per square meter, Extremadura with 5.24 euros per square meter and Castilla-La Mancha with had an average value of 5.52 euros/m² in this period. In the first quarter of the year, the most striking increase took place in the Valencian Community (3.73%). On the other hand, the biggest cut has taken place in Navarra (-7.34%). If we compare it with the figures of a year ago, the Balearic Islands (11.88%) was the one that increased the most and Asturias (-11.71%) the one that fell the most.
Limitation on rent increases
On the other hand, from the real estate portal Pisos.com, they have verified the controversial nature of the limitation to the increase in monthly rental payments to 2% by the Government. For the director of Studies at Pisos.com, Ferran Font, "this ceiling arises as a response to the inflationary scenario that we are experiencing in Spain." In this sense, he recalled that the CPI reached 9.8% in March. That is, more than two points than the previous month. Ferrán has pointed out that the Executive's measure "places small owners at the same level as large holders." In this regard, the person in charge of studies has recalled that the rental market in Spain is very fragmented and that the leases managed by companies are barely 150,000.
Ferran has shown his fear that measures like this end up generating "a transfer to tourist rental" and, in the worst case if there is not the desired reception, "simply leave empty". In this sense, he has criticized that "this interventionism will drive away investment, precisely at a time when built-to-rent promotions were beginning to take off." Font has concluded that "these continuous changes in the rules of the game generate great legal insecurity and encourage litigation in the courts, preventing a broad, stable and quality offer from existing." In his opinion, this brings uncertainty to rental prices.
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