The average price of rental housing in Spain stood at 9.81 euros per m2 in the month of September , which represents a quarterly increase of 1.87% and a year-on-year adjustment of -1.38%, according to the data from flats.com. In this context, which are the most expensive cities to rent a home?
San Sebastián was the most expensive capital for tenants with a price per square meter of 16.69 euros . In the Basque city, the rental price rose by around 7% in the quarterly variation, while the interannual difference dropped by 0.22%.
Rent is also above 16 euros per square meter in Barcelona (16.44). According to the data from piso.com, the Ciudad Condal registered an increase of 5% in the quarter, although the annual variation shows that the lease has become cheaper by 8.79% in the last year.
The third most expensive city to rent is Madrid -it rose 1.03% compared to June 2021-, with a rental house price of 15.17 euros / m2 , despite falling more than 7% cheaper in the last anus. Bilbao and Palma de Mallorca follow with 13.36 and 11.69 euros / m2, respectively.
According to Ferran Font, director of Estudios de piso.com, “although rental housing is beginning to rebound timidly, it is still cheaper to be a tenant today than it was a year ago.” The manager points out that the behavior of the rental price is strongly marked by the location component, something that has barely changed with the health crisis and the short-lived expansion of teleworking.
“The pandemic led many workers to leave the big cities, and although remote work continues, most offices have returned to face-to-face work, reactivating rents in front-line capitals,” says Font.
Zamora, the cheapest
On the other side of the scale is Zamora, since it was the cheapest provincial capital to rent with 5.45 euros per m2 , after experiencing the largest quarterly decrease in the rental price of 7.96%. Other cheaper provincial capitals were Ciudad Real (5.91 euros / m2), Palencia (5.93 euros / m2), Teruel (5.96 euros / m2) and Cáceres (6 euros / m2).
Lleida starred in the largest quarterly increase in the country , with a 10.55% rise, which left the rental price in the Catalan city at 8.26 euros / m2.
As for September of last year, Lugo was the provincial capital where the rental price increased the most, up to 15.03% . Pontevedra and Guadalajara also registered double-digit increases with 13.15% and 10.94%, respectively.
On the contrary, the most striking cut was made by Córdoba, with a decrease of 11.99% in the last year. Above 11% were also the falls of Palma de Mallorca and Malaga.