Rental price increases slowed in February
Rental housing prices in Spain increased by 1.3% month-on-month and 6.8% year-on-year, bringing the average price in February to €14.46 per square metre per month.
“The rental market in Spain continues to reach historic highs, with an average monthly rent of €1,150, the highest level recorded to date. However, at the same time, a slowdown in the pace of growth is beginning to emerge. For the fourth consecutive month, increases have moved away from double-digit growth and are now approaching a phase of greater stability. In fact, early signs of occasional price drops in some high-demand cities or very moderate increases are already being observed, indicating that the market may be entering an adjustment phase after four years of sharp price rises. After an intense cycle of increases, rental prices are beginning to show signs of reaching a ceiling. The main reason is that tenants’ financial capacity is at its limit, reducing the margin for prices to continue growing at the same pace,” explains María Matos, Director of Research and spokesperson for Fotocasa.
An analysis of rental prices compared to one year ago shows that in 16 of Spain’s 17 autonomous communities, year-on-year prices increased in February. The regions with the highest to lowest increases are Castilla-La Mancha (11.4%), Asturias (9.9%), the Valencian Community (8.9%), Castilla y León (8.5%), the Region of Murcia (7.9%), Extremadura (7.7%), Cantabria (7.3%), Galicia (6.0%), Andalusia (5.6%), the Canary Islands (5.1%), La Rioja (4.1%), the Basque Country (2.3%), Aragon (1.6%), the Balearic Islands (1.0%) and Madrid (1.0%). The only region experiencing a decline is Navarra, where rental prices fell by 8% in February.
Regarding the ranking of autonomous communities with the highest priced rental property in Spain, the five regions with prices above €15.00 per square metre per month are Madrid (€21.17/m² per month), Catalonia (€19.38/m² per month), the Balearic Islands (€18.53/m² per month), the Basque Country (€17.01/m² per month) and the Canary Islands (€15.18/m² per month). These are followed by the Valencian Community (€14.08/m² per month), Cantabria (€12.95/m² per month), Andalusia (€12.03/m² per month), Asturias (€11.96/m² per month), Navarra (€11.69/m² per month), Aragon (€10.87/m² per month), Galicia (€10.31/m² per month), the Region of Murcia (€10.29/m² per month), Castilla y León (€9.99/m² per month), La Rioja (€9.93/m² per month), Castilla-La Mancha (€8.49/m² per month) and Extremadura (€7.51/m² per month).
Provinces in Spain
In 47 out of the 50 provinces with year-on-year variation, rental prices increased in February 2026. Increases above 10% were recorded in 14 provinces, representing 28% of the total.
The provinces with year-on-year increases above 10% are Zamora (46.7%), Lleida (22.1%), Guadalajara (18.0%), Segovia (17.0%), Soria (16.6%), Ciudad Real (15.5%), Ávila (15.3%), Teruel (13.2%), Burgos (13.1%), Albacete (12.7%), Ourense (10.8%), Castellón (10.4%), Cádiz (10.1%) and Toledo (10.0%). On the other hand, declines were recorded in three provinces: Navarra (-8.0%), Cuenca (-4.4%) and Gipuzkoa (-1.2%).
The eight provinces with rental prices above €15.00 per square metre per month are Madrid (€21.17/m² per month), Barcelona (€20.86/m² per month), the Balearic Islands (€18.53/m² per month), Gipuzkoa (€18.24/m² per month), Bizkaia (€17.03/m² per month), Málaga (€16.04/m² per month), Las Palmas (€15.41/m² per month) and Valencia (€15.40/m² per month). Meanwhile, the most affordable provinces, with rental prices below €8 per square metre per month, are Jaén (€6.48/m² per month), Cuenca (€7.03/m² per month), Badajoz (€7.22/m² per month), Ciudad Real (€7.53/m² per month), Cáceres (€7.80/m² per month) and Ourense (€7.82/m² per month).
