Rental prices fall in Spain but rise by 8.2% in Barcelona

The price per square meter of housing for rent in Spain it was paid in December 2021 at 10.27 euros, 3.6% cheaper than the previous year, according to data from the report ‘Housing for rent in Spain in 2021’, prepared by the real estate portal Photocopy and published this Monday. The decline recorded in 2021 breaks with four consecutive years of growth that began in 2015, with a recovery of 4.9%, followed by an increase of 5.8% in 2016; 18.6% of 2017; 8.8% of 2018; 5.1% in 2019 and 4.6% in 2020. However, the situation is very diverse when the situation is analyzed by municipality. In the division by municipalities, Barcelona is the most expensive city, with prices around 16.82 euros per square meter, 64% above the national average. Furthermore, prices in Barcelona rose by 8.2% during the same period, distancing themselves from the general trend. Among the cheapest municipalities in Spain is the Alicante village of Alcoy, with the average rental price at 5.15 euros per square meter. The city of Madrid ended 2021 with rents 1.4% lower than in 2021.

The Director of Studies and spokesperson for Fotocasa, María Matos, emphasizes that the figures for 2021 show “the biggest transformation since 2015”. “This change is caused by the decline in demand in the most central areas of large cities and the weakening in the participation of the most mature age groups, which has reduced their interaction with this market, leading to moderation and regulation of prices naturally in 2021”, explains Matos. In addition, the Director of Studies at Fotocasa excludes a stabilization of this trend, as “the municipalities of the most tense capitals have again begun to show increases.” In Matos’ opinion, price increases in cities such as Barcelona are mainly due to the lack of supply in the most central areas. Currently, only 24% of the house stock is for rent in Spain, and the remaining 76% are homes owned. In fact, our supply of rental housing is still far from the European average, which stands at 34%.

The average price of rental housing showed an upward trend in 13 of the 17 communities, although in none of them did it rise above 10%. Rents rose by 6.5% both in the Balearic Islands and in La Rioja. In Murcia, the increase was 6.4%, while prices in the Valencian Community increased by 5.7%. The autonomous communities in which rental prices were adjusted were Madrid, with a decrease of 3.4%, Navarra, where rent was cheaper by 1.7%, Castilla-La Mancha, with a decrease of 1%, and the Basque Country, 0 , 4% more affordable.

Catalonia heads for the fourth year the position of the autonomous community with the most expensive prices, with the square meter at 14.06 euros. Madrid is in second place, with the price per square meter at 13.62 euros, followed by the Basque Country, at 13.13 euros. According to provinces, 86% of the total annual prices increase. In Huelva, rents are 15% more expensive than a year ago, followed by an increase of 10.4% in León and 9.6% registered in Badajoz. On the contrary, prices fell in Seville by 3.6% and in Madrid by 3.4%. In addition, seven Spanish provinces exceeded 10 euros per square meter per month. Guipúzcoa is the most expensive province in Spain, with the price per square meter at 15.49 euros.

In nine of the 12 municipalities, the price of rental housing is rising. The municipality with the highest increase at the end of 2021 is Sitges, with a variation of 8.9%. They are followed by Barcelona Capital (8.2%), Lleida Capital (8.2%), Girona Capital (8.2%), Manresa (5.4%), Reus (4.5%), Terrassa (3.7%), Badalona (1.0%) and L’Hospitalet de Llobregat (0.3%).

Renting a house in the most expensive municipality, Barcelona capital, costs 16.82 euros / month per month; 64% above the national average (10.27 euros / month per month). They are followed by Sitges (15.79 euros / month per month), Sant Cugat del Vallès (14.72 euros / month per month), L’Hospitalet de Llobregat (13.88 euros / month per month), Badalona (12 , 52 euros / month per month). month), Girona capital (10.74 euros / month per month), Sabadell (10.33 euros / month per month), Terrassa (10.22 euros / month per month), Tarragona capital (8.62 euros / month per month), the capital Lleida (7.55 euros / month per month), Manresa (7.55 euros / month per month) and Reus (7.39 euros / month per month).

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City of Barcelona

The district in which the rental price rose the most was Sant Martí (14.8%), followed by Ciutat Vella (14.1%), Sants – Montjuïc (9.7%), Eixample (9.5%), Nou Barris (8.2%), Gràcia (7.6%), Les Corts (6.4%), Sarrià – Sant Gervasi (3.0%), Horta – Guinardó (0.6%) and Sant Andreu (0 , 3%). The Ciutat Vella district tops the city’s list as the most expensive district to rent a home. Its average price in December stood at 18.82 euros / m² per month after rising by 14.1% annually. It is followed as the second most expensive by the Eixample district, whose average price in December 2021 stood at 17.33 euros / m² per month. In the third position is the district Sarrià – Sant Gervasi (17.02 euro / m²), followed by Sant Martí (16.91 euro / m²) and Gràcia (16.48 euro / m²). At the other extreme, Horta – Guinardó is the cheapest neighborhood with an average house value of 13.19 euros / m² per month, followed by Sant Andreu (13.34 euros / m² per month), Nou Barris (13, 38 euros / m² per month), Les Corts (16.05 euro / m² per month) and Sants – Montjuïc (16.17 euro / m² per month). Regarding the accumulated variation since the maximum price was registered, no district of Barcelona has exceeded its prices throughout 2021. The districts of Sarrià – Sant Gervasi and Sants – Montjuïc exceeded the price of rental housing three times in 2020, starting Sarrià – Sant Gervasi with a price of 18.25 euros / m² per month and ending with 18.34 euros / m² per month. The districts of Vella, Eixample and Gràcia exceeded their average price twice and the rest of the districts did so only once throughout 2020.

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