Rental price increase slowed in January
Spain begins 2026 with another rise in rental housing prices, although far more moderate than in previous months. Rental prices increased by 0.7% month-on-month and 5.3% year-on-year, reaching €14.38 per square metre per month in January. The national year-on-year increase of 5.3% is the lowest recorded since April 2024, when prices rose by 5.2%.
“Rental prices in Spain have now recorded three consecutive months of single-digit increases. This shift represents the first sign of a turning point toward price moderation. Recent developments confirm that the rental market is now moving at two speeds. 2026 begins with the prospect of slower rental cost growth nationwide. Regions with stronger economic momentum and historically higher demand pressure — which have led increases in recent years — are beginning to show signs of deceleration. Meanwhile, traditionally less pressured regions continue to post strong increases, reflecting a partial shift in demand toward new territories,” explains María Matos, spokesperson for Fotocasa.
Autonomous Communities
Looking at rental prices compared to one year ago, 14 of Spain’s 17 autonomous communities recorded year-on-year increases in January. The regions with the highest increases were Castilla-La Mancha (17.1%), Canary Islands (9.3%), Asturias (9.0%), Cantabria (8.0%), Catalonia (7.9%), Extremadura (7.4%), Castilla y León (7.1%), Valencian Community (6.6%), Andalusia (6.3%), Region of Murcia (6.2%), Aragón (6.2%), Galicia (5.0%), Basque Country (3.7%) and Balearic Islands (1.3%). The regions recording declines were Navarra (-7.3%), Madrid (-3.3%) and La Rioja (-2.0%).
In terms of the ranking of the most expensive autonomous communities for renting property in Spain, the five regions with prices above €15.00 per square metre per month are Madrid (€20.20/m² per month), Catalonia (€19.86/m²), Balearic Islands (€18.57/m²), Basque Country (€17.41/m²) and Canary Islands (€15.25/m²). They are followed by the Valencian Community (€13.80/m²), Cantabria (€12.43/m²), Navarra (€12.09/m²), Andalusia (€11.87/m²), Asturias (€11.69/m²), Aragón (€11.21/m²), Galicia (€10.09/m²), Region of Murcia (€9.96/m²), Castilla y León (€9.75/m²), La Rioja (€9.68/m²), Castilla-La Mancha (€8.75/m²) and Extremadura (€7.42/m²).
Provinces
In 45 of Spain’s 50 provinces with year-on-year data, rental housing prices increased in January 2026. In 11 provinces (22%), increases exceeded 10%, according to the Fotocasa Real Estate Index.
The provinces recording annual increases above 10% are Zamora (34.1%), Guadalajara (33.7%), Lleida (21.6%), Ciudad Real (17.8%), Ávila (17.1%), Palencia (15.5%), Segovia (15.3%), Santa Cruz de Tenerife (14.7%), Toledo (12.1%), Castellón (11.3%) and Teruel (10.4%). Declines were recorded in Navarra (-7.3%), Madrid (-3.3%), La Rioja (-2.0%), Sevilla (-0.6%) and Almería (-0.1%).
The ten provinces with rental prices above €15.00 per square metre per month are Barcelona (€21.38/m²), Madrid (€20.20/m²), Gipuzkoa (€19.33/m²), Illes Balears (€18.57/m²), Bizkaia (€17.21/m²), Málaga (€16.03/m²), Girona (€15.39/m²), Santa Cruz de Tenerife (€15.31/m²), Las Palmas (€15.19/m²) and Valencia (€15.10/m²).
On the other hand, the most affordable provinces for renting property are Jaén (€6.57/m² per month), Badajoz (€7.21/m²), Ciudad Real (€7.53/m²), Teruel (€7.61/m²), Cáceres (€7.62/m²), Cuenca (€7.67/m²) and Ourense (€7.77/m²).
