Blackstone: Rental Prices will Rise by 7%-8% in Barcelona & Madrid in 2020

27 January 2020 – El Confidencial

According to Anticipa, the servicer that Blackstone created out of the remains of the former Catalunya Caixa Inmobiliaria, rental prices will continue to rise this year in Barcelona and Madrid capitals by 7% and 8.1%, respectively.

Growing demand for rental homes is expected to put even greater pressure on rental prices in the commuter towns of those two cities, with rental prices in Torrejón de Ardoz, Móstoles and Boadilla del Monte set to rise by 16.7%, 16.2% and 15.9%, respectively, Meanwhile, in Cataluña, rental prices are also predicted to soar in Cornellà de Llobregat (15.6%), Sta Coloma Gramenet (12.9%) and Tarragona (12.3%).

These rental price increases consolidate the rising trend observed in recent years. Rental prices in Barcelona rose by 6% in 2018 and by 8% in 2019. Meanwhile, in Madrid, they increased by 10.1% in 2018 and by 9.3% in 2019.

Anticipa highlights that, as of 2018, 16.8% of the population lived in rental homes, up from 15.3% in 2011. Rental is continuing to consolidate its position as an increasingly attractive option, which means the upward pressure on prices is likely to continue, right when the new coalition government is trying to curb rental prices.

Original Story: El Confidencial

Translation/Summary: Carmel Drake