Saturday, March 2

The price of rentals falls in Spain, but rises in Barcelona by 8.2%

The square meter price living place in rental in Spain it was paid in December 2021 at 10.27 euros, 3.6% cheaper than the previous year, according to data from the report ‘Housing for rent in Spain in 2021’, prepared by the real estate portal Fotocasa and published this Monday. The decrease recorded in 2021 breaks with four consecutive years on the rise which began in 2015, with a 4.9% rebound, which was followed by a 5.8% increase in 2016; 18.6% of 2017; 8.8% of 2018; 5.1% in 2019 and 4.6% in 2020. However, the situation is very varied if the situation is analyzed by municipality. In the breakdown by municipalities, Barcelona it is the most expensive city, with prices around 16.82 euros per square meter, 64% above the national average. And furthermore, in Barcelona prices rose by 8.2% in the same period, distancing themselves from the general trend. Among the cheapest municipalities in Spain is the Alicante town of Alcoy, with the average rental price at 5.15 euros per meter square. The city of Madrid ended 2021 with rents 1.4% lower than in 2021.

The Director of Studies and spokesperson for Fotocasa, María Matos, emphasizes that the figures for 2021 show “the greatest transformation since 2015”. “This alteration is caused by the drop in demand in the most central areas of large cities and the weakening in the participation of the most mature age groups, which have reduced their interaction with this market, which has caused the moderation and regulation of prices naturally in 2021″, explains Matos. In addition, the director of Studies of Fotocasa rules out a stabilization of this trend, since “the municipalities of the most stressed capitals have begun to show increases again”. In Matos’ opinion, the price increases in cities such as Barcelona are mainly due to the lack of supply in the most central areas. Currently, only 24% of the housing stock in Spain is for rent, and the remaining 76% are owned homes. In fact, our supply of rental housing is still far from the European average, which stands at 34%.

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The average price of rental housing presented a upward trend in 13 of the 17 communities, although none rose above 10%. Rents rose by 6.5% both in the Balearic Islands and in La Rioja. In Murcia, the rise was 6.4%, while in the Valencian Community prices increased by 5.7%. The autonomous communities in which rental prices were adjusted were Madrid, with a fall of 3.4%, Navarra, where rent fell by 1.7%, Castilla-La Mancha, with a decrease of 1%, and Basque Country, 0.4% more affordable.

Catalonia heads for the fourth year the position of the autonomous community with the most expensive prices, with the square meter at 14.06 euros. Madrid ranks second, with the price per square meter at 13.62 euros, followed by the Basque Country, at 13.13 euros. By provinces, 86% of the total raise annual prices. In Huelva, the rent is 15% more expensive than a year ago, followed by the rise of 10.4% in León and 9.6% registered in Badajoz. Conversely, prices fell 3.6% in Seville and 3.4% in Madrid. In addition, seven Spanish provinces exceeded 10 euros per square meter per month. Guipúzcoa is the most expensive province in Spain, with the price per square meter at 15.49 euros.

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