Home Rental Prices Rise in Q1 Following 7 Years of Declines

The average price of housing for rent in Spain stood at 6.96 euros per square metre per month in the first quarter of the year, representing a 2.8% increase over the previous quarter, and is the first increase registered in a first quarter since 2007, according to data from property portal, fotocasa.es, who believe that prices could be normalising due to the increase in rental prices in Spain and the slight recovery of the sector.

During the first quarter, all regions registered increases in rental prices except for: Murcia (-1.1%); La Rioja (-0.9%); Extremadura (-0.8%); Cantabria (-0.7%) and Castilla-La Mancha (-0.2%).

In contrast, El Economista reported that the greatest quarterly increases in rental housing prices were registered in Catalonia (+4.6%), the Balearic Islands (+1.6%), and Asturias, Madrid and Navarra (all with an increase of 1.1%).

According to the property portal’s data, the most expensive regions in which to rent a home are the Basque Country (10.07 euros/m2 per month), Catalonia (9.28 euros) and Madrid (9.21 euros), while the least expensive regions for rental housing are Extremadura (4.46 euros/m2 per month), followed by Castilla-La Mancha (4.65 euros) and Murcia (4.78 euros).