Rental prices rocket

THE latest report from property platform, Idealista has found that home rental prices have soared to their highest levels ever in the first month of 2023. The data released on Friday, February 6, revealed that rent increased by an average of 1.5 per cent throughout the country.

Rent increases were the highest in Soria, which saw an enormous increase of 3.8 per cent in January, while Granada and Palma made up the top three with increases of 3.2 per cent and 3.1 per cent respectively.

Barcelona also saw one of the biggest increases in rent cost, of 2.2 per cent, reaching its highest ever figure. Rent in the country’s second biggest city now costs an average of €19.80 per metre squared per month.

At the opposite end of the scale, some areas did register a decrease in rent cost with it falling by 5.5 per cent in Cordoba, more than 2 per cent in Albacete and just over 1 per cent in Caceres. The figures spell good news for landlords, but are troubling for renters.