26 Oct, 2023 @ 16:30
1 min read

Renting costs soar in Spain: Tenants in Andalucia are spending 30% of their salaries on rent

Cost of renting in Spain is set to rise yet again in 2024 as housing stock is ‘squeezed’
Image by Schluesseldienst from Pixabay

ANYONE who has been living in Spain in recent years cannot have failed to notice the spiralling cost of living, in particular since the Russian invasion of Ukraine in early 2022. But it’s not just groceries, fuel and leisure that have seen prices jump, but also rents. 

Residents of the Andalucia region are now spending as much as 30% of their salaries on accommodation, according to a new study from online property service Fotocasa. 

What’s more, tenants are getting less for their money than they were a decade ago, with 30% of a monthly salary covering a property measuring just 62 square metres. 

That’s a reduction of 31 square metres compared to 10 years ago, and a full 21 square metres compared to prices in 2018. 

Rental properties in Malaga province require highest percentage of household income in Spain
Image by Schluesseldienst from Pixabay

The figures, as reported by online news site Andalucia Informacion, show that a monthly rent of €545 would have got the average tenant in Andalucia a property measuring 93 square metres a decade ago. 

Now, however, salaries have risen slightly meaning that 30% of an average wage is €588. This will only stretch to a 62-square-metre property. 

The issue is not limited to Andalusia, however, and is reflected in the figures across all of Spain. 

Taking the country as a whole, the average tenant in Spain currently has to dedicate 47% of their salary in order to rent an 86 square metre property, compared to 30% a decade ago.

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Simon Hunter

Simon Hunter has been living in Madrid since the year 2000 and has worked as a journalist and translator practically since he arrived. For 16 years he was at the English Edition of Spanish daily EL PAÍS, editing the site from 2014 to 2022, and is currently one of the Spain reporters at The Times. He is also a voice actor, and can be heard telling passengers to "mind the gap" on Spain's AVLO high-speed trains.

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