Rent breaks records in 12 Spanish capitals in July

by Lorraine Williamson
record rents

MADRID – Rents broke records in 12 Spanish provincial capitals in July, while another 23 had maximum rental contracts in the first half of the year. 

This follows from the latest data published Friday by the property portal Idealista, which highlights the 12 provincial capitals where rents have registered record maximum in the seventh month of the year. 

These are:

  • Alicante (€8.68 per square metre)
  • Valencia (€9.98)
  • Murcia (€7.71)
  • Malaga (€10.69)
  • Santa Cruz de Tenerife (€9.38)
  • León (€6.80)
  • Lleida (€7.74)
  • Logroño (€7.48)
  • Vitoria (€10.59)
  • Santander (€9.11)
  • Zaragoza (€8.78)
  • Toledo (€7.63)

In addition, A Coruña, Lugo, Burgos, Segovia, Huesca, Girona, Guadalajara, Cáceres, Córdoba, Jaén, Almería, Huelva and Las Palmas de Gran Canaria peaked in June. Meanwhile Teruel, Zamora, Cuenca, Salamanca, Pontevedra, Tarragona and Cádiz records broke in May, a month after Ávila and Castellón de la Plana. And in Soria, rents reached record highs in February this year. 

By contrast, several of the country’s largest rental markets, such as Madrid, Barcelona, ​​Palma de Mallorca and Seville, have not yet reached their May 2020 peak – the midst of the pandemic, the platform points out. 

Baycrest Wealth

Idealista points out that in the worst moments of Covid when the housing market was practically closed, prices skyrocketed. When the restrictions were released, supply increased again and rents fell sharply. 

The most expensive capital is Barcelona 

Barcelona remains the provincial capital with the most expensive rental properties in Spain. The average price here is €17.40 per square metre. Then Madrid (€15.90), San Sebastián (€15.50), Bilbao (€12.60) and Palma (€12.10). 

Zamora cheapest capital 

In contrast, Zamora is the capital with the cheapest rent in the national market, at €5.70 per square metre, followed by Ourense and Ciudad Real (€5.90), “the only capitals where prices have peaked from the economic and financial crisis. have not exceeded,” said Idealista.  

Also read: Spain´s property market at highest level since property boom


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