Rental prices in Spain fell by 4.2% year-on-year in November 2021
In which cities did the prices rise, and in which they fell? Is the pandemic still the reason?
The price of rented housing in Spain fell by 4.2% year-on-year, bringing its price to 10.19 /m2 per month in November. However, compared to the previous month, it rose by 1%.
This fact was derived from the data of the Fotocasa Real Estate Index, which also points out that this latest year-on-year value (-4.2%) is the tenth decline recorded since February 2021.
This fact was derived from the data of the Fotocasa Real Estate Index, which also points out that this latest year-on-year value (-4.2%) is the tenth decline recorded since February 2021.
Prices for rents in Spain decreased by more than 4% in November 2021
"This downward trend in rental market prices is a direct consequence of the transformation of the market caused by the impact of the pandemic, where the demand for renting has fallen by several percent, due to the low participation of citizens over 35 years of age who previously interacted more with this market. Another factor is that demand has shifted from city centres to more peripheral areas, which has allowed the most stressed regions such as, for example, the capital Madrid, to continue with declines," explains María Matos, Director of Studies and Spokesperson for Fotocasa.
"However, it is interesting that, for the first time, the cities of Madrid and Barcelona, which had been on a par for more than a year, have bifurcated, each taking their own path. While Madrid continues to be faithful to price reductions, Barcelona has ended the truce and is showing a fairly sharp rise," adds Matos.
Even so, when analysing prices by capital city, it can be seen that there were only falls in eight of the 40 cities analysed by this real estate portal. The biggest falls were recorded in Ourense (-5.6%), Pamplona (-3.7%), Madrid (-3.5%), Granada (-1.9%), Ávila (-1.6%), Salamanca (-0.5%), Castellón de la Plana (-0.4%) and Bilbao (-0.2%).
On the other hand, the largest increases were in: Cadiz (15.2%), Almeria (8.5%), San Sebastian (6.8%), Palencia (6.2%), Valencia (5.3%), Albacete (5.2%), Murcia (5.2%), Toledo (5%), Barcelona (4.8%) and Santa Cruz de Tenerife (4.8%).
The ranking of the capitals with the most expensive rents is led by San Sebastian (16.94 euros/m2), followed by Barcelona (16.45 euros/m2), Madrid (14.68 euros/m2), Bilbao (13, 27 euros/m2), Palma de Mallorca (11.59 euros/m2), Cádiz (11.06 euros/m2), Las Palmas de Gran Canaria (10.78 euros/m2), Girona (10.21 euros/m2), Seville (10.18 euros/m2) and Valencia (10.17 euros/m2).
"However, it is interesting that, for the first time, the cities of Madrid and Barcelona, which had been on a par for more than a year, have bifurcated, each taking their own path. While Madrid continues to be faithful to price reductions, Barcelona has ended the truce and is showing a fairly sharp rise," adds Matos.
Even so, when analysing prices by capital city, it can be seen that there were only falls in eight of the 40 cities analysed by this real estate portal. The biggest falls were recorded in Ourense (-5.6%), Pamplona (-3.7%), Madrid (-3.5%), Granada (-1.9%), Ávila (-1.6%), Salamanca (-0.5%), Castellón de la Plana (-0.4%) and Bilbao (-0.2%).
On the other hand, the largest increases were in: Cadiz (15.2%), Almeria (8.5%), San Sebastian (6.8%), Palencia (6.2%), Valencia (5.3%), Albacete (5.2%), Murcia (5.2%), Toledo (5%), Barcelona (4.8%) and Santa Cruz de Tenerife (4.8%).
The ranking of the capitals with the most expensive rents is led by San Sebastian (16.94 euros/m2), followed by Barcelona (16.45 euros/m2), Madrid (14.68 euros/m2), Bilbao (13, 27 euros/m2), Palma de Mallorca (11.59 euros/m2), Cádiz (11.06 euros/m2), Las Palmas de Gran Canaria (10.78 euros/m2), Girona (10.21 euros/m2), Seville (10.18 euros/m2) and Valencia (10.17 euros/m2).
The ranking of the capitals rental prices in Spain
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