BEATRIZ AMIGOT
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The price of rental housing in Spain rose by 3% in May compared to the same month last year, reaching €14.76 per square meter per month.
This is according to the latest report released by Fotocasa, which highlights that this is the most moderate year-on-year increase in nearly three years (since July 2023).
"After several years of sharp rises, rents have now been posting increases away from double-digit figures for over seven months, recording the most moderate year-on-year growth in recent years. The price surge is losing steam because tenants' payment capacity has reached its limit," explains María Matos, Director of Studies and spokesperson for Fotocasa.
"However, this slowdown does not mean a drop in prices. Rentals remain at historically very high levels, and demand pressure continues to be intense across much of the country. The available supply is still insufficient to meet housing needs, so although the growth rate is moderating, prices maintain an upward trend," Matos adds.
Analyzing rental prices compared to a year ago, it is observed that in 16 of the 17 autonomous communities, the year-on-year price increased in May. The largest rises were recorded in Castilla-La Mancha (14.3%), La Rioja (13.4%), Asturias (12.3%), and Aragon (11.6%).
Following these were the Valencian Community (9.4%), the Canary Islands (8.0%), Navarre (7.6%), Extremadura (7.2%), the Region of Murcia (6.5%), Andalusia (6.4%), Castilla y León (5.8%), Galicia (5.4%), the Balearic Islands (4.7%), the Basque Country (4.6%), Madrid (3.7%), and Cantabria (0.4%).
On the other hand, Catalonia was the only region in negative territory for the second consecutive month (-3.7%).
Regarding the ranking of autonomous communities with the most expensive rental housing prices in Spain, the five with prices above €15.00 per square meter per month are: Madrid at €21.96 per square meter per month, Catalonia at €19.30 per square meter per month, the Balearic Islands at €19.10 per square meter per month, the Basque Country at €17.55 per square meter per month, and the Canary Islands at €16.28 per square meter per month.
They are followed by the Valencian Community at €14.79 per square meter per month, Cantabria at €13.78 per square meter per month, Navarre at €12.85 per square meter per month, Andalusia at €12.38 per square meter per month, Asturias at €12.26 per square meter per month, Aragon at €11.98 per square meter per month, Galicia at €10.74 per square meter per month, Murcia at €10.68 per square meter per month, La Rioja at €10.27 per square meter per month, and Castilla y León at €10.24 per square meter per month.
Meanwhile, the most affordable for renting an apartment are Castilla-La Mancha at €9.09 per square meter per month and Extremadura at €7.57 per square meter per month.
Provinces
In 46 of the 49 provinces analyzed, the price of rental housing increased in May.
Above 10% were: Guadalajara (36.4%), Álava (23.3%), Zaragoza (18.9%), Ciudad Real (16.4%), Tarragona (15.7%), Toledo (15.2%), La Rioja (13.4%), León (13.1%), Lleida (12.9%), Asturias (12.3%), Castellón (10.5%), Alicante (10.3%), Seville (10.2%), and Valencia (10.0%).
On the other hand, declines occurred in six provinces: Barcelona (-1.1%), Teruel (-0.4%), and Almería (-0.3%).
The ten provinces with prices above €15.00 per square meter per month are: Madrid with €21.96 per square meter per month, Barcelona with €20.94 per square meter per month, Gipuzkoa with €19.17 per square meter per month, the Balearic Islands with €19.10 per square meter per month, Biscay with €17.21 per square meter per month, Málaga with €16.53 per square meter per month, Valencia with €16.45 per square meter per month, Las Palmas with €16.42 per square meter per month, Santa Cruz de Tenerife with €16.17 per square meter per month, and Girona with €15.75 per square meter per month.
Meanwhile, the most affordable provinces for renting a home at a price below €8 per square meter per month are: Jaén with €7.04 per square meter per month, Badajoz with €7.48 per square meter per month, Teruel with €7.62 per square meter per month, Cáceres with €7.63 per square meter per month, Cuenca with €7.66 per square meter per month, and Ciudad Real with €7.94 per square meter per month.
Capital Cities
The year-on-year rental price rose in 46 of the 49 capital cities studied. In as many as 13, the increases were in double digits. Guadalajara led the way (43.3%), followed by Vitoria (19.4%), Zaragoza (18.9%), Ciudad Real (15.2%), Logroño (13.7%), Valencia (12.3%), Oviedo (11.7%), Cuenca (11.6%), Huelva (11.2%), León (11.1%), Pontevedra (10.3%), Badajoz (10.3%), and Seville (10.0%).
On the other hand, the three cities where year-on-year declines occurred were: Tarragona (-9.8%), Palencia (-2.6%), and Barcelona (-0.5%).
Regarding the price per square meter in May, in eleven cities it exceeds €15.00 per square meter per month: Barcelona city with €22.86 per square meter per month, Madrid city with €22.81 per square meter per month, San Sebastián with €20.31 per square meter per month, Palma de Mallorca with €19.37 per square meter per month, Valencia with €18.08 per square meter per month, Bilbao with €17.63 per square meter per month, Girona with €17.39 per square meter per month, Málaga city with €16.99 per square meter per month, Las Palmas de Gran Canaria with €16.09 per square meter per month, Santa Cruz de Tenerife with €15.02 per square meter per month, and Vitoria with €15.01 per square meter per month.
Meanwhile, the cities with rental prices below €9.00 are: Teruel with €7.89 per square meter per month, Jaén with €7.98 per square meter per month, Lugo with €8.21 per square meter per month, Cáceres with €8.23 per square meter per month, Cuenca with €8.29 per square meter per month, Ourense with €8.40 per square meter per month, Badajoz with €8.58 per square meter per month, and Lleida with €8.88 per square meter per month.
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