Rental increase

THE price of housing rental in Spain increased by 9.2 per cent over the last 12 months, according to a report published by the property management company, idealista.

At the end of June 2023, renting a property in our country had a cost of €11.8 per square metre.

Francisco Inareta, spokesperson for idealista, confirmed: “As long as the available supply does not increase, there will be no way to contain prices.

“Neither the limits established in the Housing Law nor the promises of future developments seem to be able to contain the escalation of rents, which is getting worse for Spanish families every day.”

Prices reached record highs in 25 capitals, including Alicante, Palma, Valencia, Madrid and Barcelona.

The price increased in all regions over the last 12 months.

The largest increases were in the Balearic Islands (27.3 per cent), Valencia (15.7 per cent), the Canary Islands (14.6 per cent), Andalucia (12.4 per cent) and Cantabria (12.4 per cent).

In Catalonia they rose by 10.8 per cent, while in Madrid they grew by 9.2 per cent. The Basque Country recorded the lowest increase (4.1 per cent), followed by Aragon (4.2 per cent) and Navarre (4.3 per cent).