34 capitals, led by Barcelona, with rents more expensive than before the Housing Law
The price of rented housing increased by 9.3% year-on-year in September to reach an average of 11.8 euros/m2, according to data provided by idealista, which indicates that 21 capitals are at record highs and a total of 34 have higher prices than before the Housing Law. Barcelona is the most expensive capital to rent a property, with 20 euros/m2, followed by Madrid (17.7 euros); San Sebastian (16.9 euros); Palma (14.6 euros) and Bilbao (13.2 euros).
In the last three months the price of rents moderated its rise to 0.3 %. However, compared to the previous month (August), rented housing fell by 1.1 %.
In September, the biggest rises in rents compared to the previous year were recorded in the Balearic Islands (22.7 % to 16.2 euros/m2); Valencia (15.9 % to 10 euros); the Canary Islands (14.5 % to 12.8 euros); Catalonia (13.8 % to 16 euros) and Andalusia (12.4 % to 10.1 euros). Meanwhile, prices in the Community of Madrid rose by 9 % year-on-year to 16.1 euros/m2.
If the last three months are analysed, the price increased in 11 of them, with the largest increases in Catalonia (5.8 %); Madrid (4.7 %); Comunidad Valenciana (3.4 %); País Vasco (3.1 %) and La Rioja (2.9 %).
The Balearic Islands is the region with the most expensive rents (16.2 euros/m2), followed by Madrid (16.1 euros); Catalonia (16 euros) and the Basque Country (13.1 euros). In fact, 6 autonomous communities are already at maximum values: Madrid; Catalonia; the Canary Islands; La Rioja; the Basque Country and Castile-La Mancha.
34 capitals with higher prices than before the Housing Law
According to the real estate portal, 34 Spanish capitals have higher prices than before the Housing Law was passed.
Among the major rental markets, rises have been widespread over the last 3 months, with significant increases in Barcelona (6.6%); Madrid (5.1%); Alicante (4.6%); Valencia (4.2%) and Malaga (3.4%).
Moreover, the year-on-year increases in these same markets are in double digits: Valencia (22.1 %); Alicante (18.6 %); Barcelona (18.1 %); Malaga (17.9 %) and Madrid (10.7 %).
Barcelona is the most expensive capital to rent a property, with 20 euros/m2, followed by Madrid (17.7 euros); San Sebastian (16.9 euros); Palma (14.6 euros) and Bilbao (13.2 euros).
Idealista maintains that after four months in force, the Housing Law has not managed to contain the price of rents, as the supply continues to be reduced and there are more people looking.
For its part, Fotocasa indicates that the high rental price is a problem for 70% of tenants and the lack of supply is a problem for 39% of them. Among the problems encountered are also the requirements demanded by landlords, the state of conservation of the properties, as well as the financing required by one out of every four applicants for down payments.
