July 30, 2021

The average rental price is up 16.08% year-to-year until September

The average rental price is up 16.08% year-to-year until September



The housing for rent in Spain last September registered an average area of ​​115 square meters and an average monthly rent of 859 euros, according to the quarterly rental price report prepared by pisos.com. This figure marked an increase of 2.26% compared to the month of August and an increase of 5.92% compared to June. Year-on-year, the upturn was 16.08%.

The study shows that the highest rents by communities occurred in Madrid (1,501 euros per month), Baleares (1,179 euros) and País Vasco (1,099 euros). The cheapest rents were in Extremadura (441 euros), Castilla-La Mancha (496 euros) and Galicia (524 euros). In the third quarter, the most striking increase took place in Madrid (7.60%), and the highest cut occurred in Galicia (-6.76%). Madrid (20.56%), Cataluña (20.02%) and Baleares (19.09%) showed the highest increases from one year to the next. There were no adjustments in this period.

In the classification of provinces by rent, in September 2018 the first position was for Madrid, with 1,501 euros per month. They were followed by Guipúzcoa (1,314 euros) and Barcelona (1,210 euros). On the opposite side, Teruel closed the classification with 385 euros per month. Other economic provinces were Ciudad Real (402 euros) and Cáceres (413 euros). The province where it was most expensive in the third quarter was Pontevedra (10.68%), while the one that fell the most was Lugo (-9.56%). From one year to the next, the one that rose the most was Madrid (20.56%), and the income that was most adjusted was that of Huelva (-10.30%).

As for provincial capitals, Madrid was the most expensive for tenants, with an average income of 1,758 euros per month. They were followed by Barcelona (1,749 euros) and San Sebastián (1,513 euros). For its part, Teruel was the cheapest, with 385 euros of monthly rent. Other economic capitals were Ciudad Real (402 euros) and Cáceres (413 euros). Vitoria (13.02%) made the biggest quarterly rise, while setbacks were led by Tarragona (-18.56%). Interannually, it led the ranking of increases Cádiz (20.33%), with Córdoba (-15.07%) at the other end of the table.

The rise in the rental price in certain cities is complicating access to housing. According to Ferran Font, director of studies at pisos.com, "finding a flat that compromises a reasonable percentage of monthly income is becoming the exception in large cities such as Madrid or Barcelona." The expert says that "many tenants have long since left to live in central districts, but the problem is that in the peripheries there are also few offers with a sensible price-quality ratio". On the other hand, the extension of tourist flats is an element that encourages rents upwards. "There are few tenants who, at the time of renewing the contract, have run into an update of the income impossible to assume, the result of the landlord's desire to put the property in the holiday rental market," says Font.

In addition to the tourist phenomenon, Font adds that "the blocking of new construction licenses and the exhaustion of housing stock Second hand, it moves the purchase demand to the rental one, a market that does not feed its inventory with the speed it should. " The spokesman for the real estate portal calls for dialogue between the Government, large holders of housing and private owners to be encouraged: «We must take action and create a housing park for abundant, quality rent and at prices adjusted to salaries», concludes .


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