The monthly cost of rental housing in Spain had an average monthly price of 10.17 euros per square meter in April 2022. This figure marked a monthly rise of 0.30%. In the year-on-year comparison it increased by 5.18%.
According to Ferran Font, Director of Studies at piso.com, “The upward trend in monthly rental payments is in line with the prices of sales, so we see how inflation influences both markets, although not in a positive way. The cost of renting affects the finances of many families whose income has not yet recovered after the pandemic. It is essential that the supply of rental housing be expanded, because the more housing available, the more prices are moderated.”
Buy-to-rent continues to be a profitable alternative, even above other financial products. However, housing is a refuge value, but it is also the quintessential illiquid asset, a condition that must be considered before launching out to seek opportunities within this market. Regarding regulation by the Government, it is not fair to transfer the responsibility to the owners and make them lose purchasing power.
Barcelona and Zamora at heads and tails of the rental market
The most expensive regions to live for rent in April 2022 were Madrid (€12.78 p/m²), the Balearic Islands (€12.09 p/m²) and Catalonia (€11.56 p/m²). The cheapest rents were in Castilla y León (€4.70 p/m²), Extremadura (€5.25 p/m²) and Castilla-La Mancha (€5.46 p/m²). In April, the most significant increase was in Murcia (2.81%). The greatest negative variation occurred in Asturias (-1.94%). Compared to last year, the Balearic Islands (13.50%) was the one that increased the most and Asturias (-12.56%) the one that fell the most.
In the classification of provinces by cost of renting in Spain, in April 2022 the first position went to Madrid, with 12.78 euros per square meter. It was followed by Barcelona (€12.60 p/m²) and the Balearic Islands (€12.09 p/m²). On the opposite side, Cuenca closed the month with 3.22 euros per square meter. Other economic provinces were Ávila (€3.38 p/m²) and Ciudad Real (€3.65 p/m²). The province that made its rents more expensive in the last month was León (2.99%), while the one that made them cheaper was Zamora (-2.89%). From one year to another, the highest increase registered was that of Huelva (18.45%). The income that adjusted the most was that of Ourense (-19.42%).
Regarding provincial capitals, Barcelona was the most expensive for rental housing with an average price of 17.37 euros per square meter. It was followed by Donostia-San Sebastián (€15.96 p/m²) and Madrid (€15.80 p/m²). On the other hand, Zamora was the cheapest with 5.57 euros per square meter. Other economic provincial capitals were Ourense (€6.10 p/m²) and Ciudad Real (€6.23 p/m²). Cuenca (3.15%) led the monthly increases, while Huelva (-2.94%) was the capital that devalued the most in this period. Compared to April 2021, Lugo (19.82%) led the increases. The most striking cut was thrown by Ourense (-5.97%).