March 9, 2021

The rental price in Spain soars 50% in seven years

The price of residential rental apartments in Spain has registered an increase of 50% since the last quarter of 2013, when the minimum recorded from 2007 to May 2019 took place, according to a study prepared by the Bank of Spain published on Thursday and picked up by Efe. The report shows that this growth occurred unevenly in Spain, as the provincial capitals increased on average between 2013 and 2019 by 40%, while other populations recorded a growth of 10% in the same period of time. The biggest growths are observed in the big cities (Barcelona, ​​Madrid or Valencia) and in cities with high tourist concentration (Málaga, Palma, Las Palmas de Gran Canaria and Santa Cruz de Tenerife), while the most moderate growths are located in cities Inland Spain. In addition, the report has indicated the slowdown in prices in Barcelona and Madrid and in the case of the Catalan capital, the Bank of Spain, has indicated that there is a slowdown in the rental price and you can even talk about stagnation. The Bank of Spain has highlighted that the weight of the rental market has increased from 19.4% in 2005 to 23.9% in 2018, as a whole, the number of households on a rental basis was somewhat above 3 million in 2018, compared to 2.4 million in 2008. Only four communities registered average rent percentage above the Spanish, Balearic Islands with 28.3% of their homes, Catalonia with 26.3%, Madri d with 23.6% and the Canary Islands with 19.5%. This increase in the rental weight in the market is due to the strength of young households, and tenants between 30 and 44 years of age living in rent in 2010 were 19.1%, while in 2018 they already accounted for 29, 9%. Regarding the relationship between the weight of the rental expense and total income, the average stood at 27.8% in 2014 of the net income of Spanish households, a percentage that rises to 46.9 % among households with lower incomes, while the average recorded in the countries of the Organization for Economic Cooperation and Development (OECD) was 13.1%. Finally, the report has indicated that since 2013 there has been a fall Significant number of new officially protected homes (VPO), since during the period 1995-2012, the annual average was over 60,000 homes. While as of 2013 the number of homes falls below 20,000, figures that already in 2015 are below 10,000, a step that remained in 2018.

. (tagsToTranslate) javier de antonio

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