Madrid
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The owners withdraw due to the regulatory changes approved by the Government. Measures such as the housing law -already in the Courts- and the 2% cap for reviewing contracts have caused hundreds of landlords to take their homes off the market. A collapse in supply that, together with the pull in demand, has caused a new upturn in rental prices.
It is one of the main conclusions of the latest Pisos.com report. The real estate agency estimates that prices rebounded in April by 5.18% year-on-year and 0.3% month-on-month, reaching 10.17 euros per square meter. A result that completely breaks with the moderation experienced in prices in recent months.
The monthly report of flats.com shows that the most expensive regions to live for rent in April 2022 were Madrid (€12.78/m²), the Balearic Islands (€12.09/m²) and Catalonia (€11.56/m²), while rents The cheapest were in Castilla y León (€4.70/m²), Extremadura (€5.25/m²) and Castilla-La Mancha (€5.46/m²). In the last month, the most striking increase took place in Murcia (2.81%). Compared to last year, the Balearic Islands (13.50%) was the one that increased the most and Asturias (-12.56%) the one that fell the most.
By provinces, the first position was for Madrid, with 12.78 euros per square meter. It was followed by Barcelona (12.60 euros/m2) and the Balearic Islands (12.09 euros/m2). On the opposite side, Cuenca closed the classification with 3.22 euros per square meter.
Likewise, the province that made its rents more expensive in the last month was León (+2.99%), while the one that made them cheaper was Zamora (-2.89%). From one year to another, the highest increase registered was that of Huelva (+18.45%), while the income that adjusted the most was that of Ourense (-19.42%).
What is happening in the market? According to the director of the Pisos.com study service, Ferrán Font, there are several factors that explain this evolution. To begin with, the return of the international traveler is causing large price increases in tourist regions, as shown by the interannual result of the Balearic Islands.
But not only the tourist barrage influences. Font explains that “the legal framework has a great influence” and “small owners are very exposed to the situation in general and to regulatory instability in particular.” «The consequence of legislative changes such as the housing law and the limitation of increases is the fall in supply. To this is added a very active demand for a return to work and universities ».
Is there room for further increases? Despite the cost of rent for some tenants, real estate agencies consider that it is. Also Pisos.com. “In the pandemic there were widespread corrections and now regions such as Madrid, Catalonia, the Balearic Islands and the Canary Islands are recovering the lost path. Today there is room to register more increases because there is a demand group that is capable of paying these prices, “says Font.
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George is Digismak’s reported cum editor with 13 years of experience in Journalism