Rent cheaper expensive Spain 2021

The cost of rental housing in Spain has decreased by 6.7% over the last year to an average level of 10.7 euros/m², although the pace of decline slowed in August. Six autonomous communities, 17 provincial capitals, and 11 provinces became cheaper compared to the rest of Spain.

In which autonomous communities, capitals, and provinces did rent become cheaper this year? August closed with an annual drop in rental prices in Spain of 6.7% to 10.7 euros/m², according to the latest price report from idealista. Over the last 30 days, on the contrary, the price declined only slightly — just 0.3%.

Autonomous Communities

Average rental rates decreased in six autonomous communities over the last year. The leaders in decline were Catalonia (-8.2%), the Community of Madrid (-8.1%), and the Balearic Islands (-4.7%), followed by Andalusia (-1.9%), the Valencian Community (-0.8%), and the Basque Country (-0.3%).

Rental rates, on the contrary, increased in Cantabria (7%), Castile-La Mancha (5.3%), Navarre (4.9%), and Extremadura (4.5%). Growth of less than 3% was recorded in Galicia (2.6%), Asturias (2.5%), the Region of Murcia (2.1%), Castile and León (1.9%), La Rioja (1.6%), the Canary Islands (0.8%), and Aragon (0.4%).

The Community of Madrid (13.8 euros/m²) is the most expensive region, followed by Catalonia (13.4 euros/m²). Next come the Basque Country (12.1 euros/m²) and the Balearic Islands (11.9 euros/m²). At the opposite end of the table are Extremadura (5.6 euros/m²) and Castile-La Mancha (5.9 euros/m²), the cheapest regions.

Capital Cities

Over the last year, apartment rentals became cheaper in 17 provincial capitals, especially in Madrid and Barcelona, where rental costs decreased by 9.3% and 8.5% respectively. Over the last month, on the contrary, prices increased by 0.5% in Madrid and 0.2% in Barcelona. Next in annual decline are Palencia (-5%), Palma (-5%), Málaga (-4.6%), Bilbao (-2.3%), and Alicante (-2.3%).

Huesca is the provincial capital with the highest increase in rental rates over the last year (8.1%), followed by Soria (8%), Zamora (7%), Albacete (6.7%), Melilla (5.4%), Vitoria (4.2%), and Almería (4%).

For the first time, the cities with the most expensive rent (Barcelona, San Sebastián, and Madrid) are tied at the same monthly rate — 14.6 euros/m². Next comes Bilbao with 12.1 euros/m², Palma (11 euros/m²), and Vitoria (10.1 euros/m²). Ciudad Real, on the contrary, is the cheapest provincial capital in Spain — 5.5 euros/m², followed by Cáceres (5.5 euros/m²) and Cuenca (5.6 euros/m²).

Provinces

Prices decreased in only 11 provinces compared to figures from a year ago. The largest drop was recorded in the provinces of Barcelona (-8.2%), Madrid (-8.1%), Balearic Islands (-4.7%), Seville (-1.9%), and Málaga (-1.3%). The highest increase in rental rates over the last year was noted in the provinces of Cuenca (10.6%), Ávila (7.1%), Cantabria (7%), Segovia (6.3%), and Huesca (6.3%).

Barcelona (13.9 euros/m²) is the most expensive province, slightly ahead of Madrid with 13.8 euros/m² and Gipuzkoa with 13.7 euros/m². Jaén and Cuenca, on the contrary, are the cheapest provinces (5.1 euros/m² in both cases), followed by Ciudad Real and Cáceres (5.2 euros/m² both).