Fotocasa: Rental Prices Reach Historical Peaks in 2018 in the Balearic Islands, Las Palmas, Salamanca, Barcelona & Madrid

3 July 2018 – El Economista

Rental prices in five Spanish provinces (the Balearic Islands, Las Palmas, Salamanca, Barcelona and Madrid) have reached their historical maximums in 2018, according to data provided by Fotocasa. The situation extends to nearby municipalities in the provincial capitals.

Barcelona, with a maximum price of €13.90/m2 in January 2018, is the province with the most expensive rental prices, following by Madrid, with an average of €12.36/m2, recorded in April this year. Those two provinces are followed by the Balearic Islands, with a price of €10.60/m2; Las Palmas (€7.65/m2); and Salamanca (€7.34/m2).

According to the Head of Research at Fotocasa, Beatriz Toribio, “the average price of rental housing in Spain has been growing uninterruptedly for three years, but in 2017, it did so at a very intense rate, above all in the large provincial capitals and in tourist destinations such as Madrid and Barcelona”.

Moreover, 65 other towns have also recorded their maximum prices at some point during 2018, in particular, those in the autonomous regions of Andalucía, the Community of Valencia, Madrid and Cataluña.

In this way, in Andalucía, 11 municipalities have recorded maximum prices in 2018, including Málaga, Torremolinos and Rincón de la Victoria. In the Community of Valencia, rental prices in 10 municipalities have reached their historical peaks, whilst in the Community of Madrid, 7 municipalities have seen maximum prices, such as Madrid capital, Las Rozas and Boadilla del Monte. Finally, in Cataluña, 9 municipalities have reached their maximum rental prices.

Original story: El Economista

Translation: Carmel Drake

Idealista: Rental Prices Rose by 18.4% in 2017

4 January 2018 – Eje Prime

The price of rental homes is continuing to rise. The residential rental sector ended 2017 with an average price increase of 18.4%, to reach €9.7/m2/month, according to the latest report from Idealista. The fourth quarter saw a slow down in the rate of growth, given that prices only rose by 3.3%. Barcelona and Cáceres were the only cities where rental prices fell during Q4, by 2.4% and 1%, respectively.

“2017 was undoubtedly the year of the rental market in Spain. Between January and September, the sector grabbed the headlines and was a popular talking point amongst the general public. Prices rose in general across the whole of Spain, although the upward trend was curbed slightly during the final quarter of the year”, according to the research.

It is worth noting that not rental prices did not increase to the same extent in all markets: the Canary and Balearic Islands, together with the Andalucían capitals of Málaga and Sevilla, and the Catalan city of Girona led the price rises. Madrid, which together with Barcelona has traditionally spearheaded the rental market in Spain, saw its prices rise by half the national average. And Barcelona was the only Spanish capital, alongside Cáceres, to end the year with a decrease in rental prices after four years of YoY increases.

In all of the other provincial capitals, rental prices are more expensive today than they were a year ago. Santa Cruz de Tenerife is the capital where rental prices increased by the most in 2017, with a rise of 22.7% to reach €8/m2/month. The increase recorded in Las Palmas de Gran Canaria was also considerable, where rental prices rose by 22.5%, followed by Girona, with an increase of 20.5%.

Original story: Eje Prime

Translation: Carmel Drake

Mitula: Rental Prices Soar In Spain’s Large Cities

25 January 2017 – El Mundo

The residential rental market is riding high at the moment and this good situation is reflected in rental prices, which are soaring in most of Spain’s major cities, according to a study by the home finder Mitula. Specifically, rental prices have increased by more than 60% in Barcelona over the last five years, whilst in Madrid, they have risen by almost 20% during the same period.

In this way, average rental prices in the Spanish capital amounted to around €1,048 per month in 2012, a figure that has grown in a sustained way over the last five years. By January 2017, the average rent in Madrid stood at €1,256, which represents an increase of 19.85%.

Other cities such as Barcelona and Palma have also seen their residential rental prices soar, but to an even greater extent. In the case of the Catalan capital, for example, the average rent has risen from €892 in January 2012 to €1,478 in January 2017, which represents an increase of 65.70%.

Palma has also seen its rental prices move upwards. A rental home in the capital of the Balearic Islands used to cost around €700 per month on average in 2012. Nowadays, the same property costs around €1,000 (€986), up by 40%, according to Mitula.

This upwards trend is being repeated in most of Spain’s major capitals, but there is one exception: Santander. The capital of Cantabria is one of the few cities where rental prices have remained practically frozen. At the moment, a rental home costs €649 per month, on average, which is 2.84% less than five years ago, when the figure stood at around €668/per month.

Original story: El Mundo

Translation: Carmel Drake