RENTAL property prices rose by 14.1% in July compared to a year earlier, according to a study from the Fotocasa property portal.
The average price comes in at €14.37 per square metre meaning that the rent for a small 80 m2 flat has gone up by €142 per month to an average charge of €1,150.
Though big cities and tourist areas have some of the most expensive prices, the problem is filtering through all round Spain.
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Fotocasa’s Director of Studies, Maria Matos, said: “This sustained increase in rental prices is having a direct impact on the domestic economy of thousands of families, who have increasing problems.”
“The issue of supply and demand, especially in large cities and metropolitan areas, continues to push prices upwards. The shortage of available supply, coupled with growing demand, is accelerating the rise in rental prices in Spain,” Matos added.
Compared to July 2024. all regions have seen increases in rental prices.
The biggest hikes have been in Catalunya(21.2%), Castilla-La Mancha (13.3%), La Rioja(12.9%), the Valencian Community(11.8%), Andalucia(10.8%) and Aragon(10.0%).
In addition, Madrid, Catalunya, the Balearic Islands, the Basque Country and the Canary Islands have consolidated their places as the most expensive regions for rentals, with prices above €15 euros per m2.
Barcelona renters have seen of the biggest hikes as in just a year, monthly rents have risen by €154-. €12 above the national average, with rentals up by 8.9% last month compared to July 2024.
It means tenants have gone from paying €1,720 on average for a 80 m2 property to €1,874 per month.
Meanwhile, Madrid has reported a rise of 6.4%.
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very informative, thank you.