Rental Prices Increase by 0.9% in July: Here's the Situation in Your City

August 2, 2023, 9:25

The month of July closed with a monthly increase in rental prices in Spain of 0.9%, bringing the average price to 11.9 euros/m2, according to the latest price report published by idealista. In the last quarter, rental prices have grown by 3.7%, while the year-on-year increase stands at 9.3%. The July data becomes the highest rental price ever recorded in Spain by idealista for the seventh consecutive month.

Vitoria, San Sebastián, and Almería experienced the highest rent increases.

29 capitals have seen an uptick in rental housing prices in the last month. The steepest increase was observed in Vitoria, where rents rose by 4%, followed by San Sebastián (3.8%), Almería (3.8%), Santa Cruz de Tenerife (2.9%), Málaga (2.9%), and Ávila (2.8%). On the other hand, Ceuta is the capital where rental prices decreased the most in July (-3.9%), followed by Huesca (-2.1%), Cáceres (-2%), Girona (-1.9%), and Tarragona (-1.8%).

In addition to Málaga and San Sebastián, the main cities in the country also registered increases compared to rents from a month ago: Madrid (1.6%), Alicante (1.5%), Valencia (1.1%), Barcelona (0.8%), and Palma (0.5%). Rents decreased in Seville (-0.4%), while they remained unchanged in Bilbao during the last month.

Barcelona continues to be the capital with the highest rental prices at €18.9/m2, followed by Madrid (€17.1/m2), and San Sebastián (€16.5/m2). They are followed by Palma (€14.5/m2), Bilbao (€13.1/m2), and Málaga (€12.8/m2). Barcelona, Madrid, San Sebastián, Palma, Málaga, and Valencia have reached their highest prices ever recorded by idealista.

Conversely, Cáceres is the capital with the most affordable rents at €6.1/m2, followed by Ciudad Real (€6.2/m2), Zamora, and Lugo (both at €6.3/m2).

Baleares is the most expensive province for renting in Spain, ahead of Barcelona and Madrid.

Rental prices have increased in 44 provinces compared to the previous month. The largest increases were seen in Girona (7.1%), Cantabria (5.5%), Álava (4.1%), Lugo, and Guipúzcoa (3.9%). On the other hand, the only provinces that experienced rent decreases were Huelva (-2.1%), Huesca (-1.3%), Guadalajara (-0.6%), Salamanca (-0.2%), and Jaén (-0.1%).

Baleares (€16.5/m2) ranks as the most expensive province, ahead of Barcelona with €16.2/m2, Madrid with €15.6/m2, and Guipúzcoa with €14.8/m2. Conversely, Zamora, Cáceres, Ciudad Real, and Jaén (all at €5.7/m2) are the most affordable provinces.

All 17 Autonomous Communities saw rent increases in July.

Cantabria (5.5%), Región de Murcia (2.5%), Comunitat Valenciana (2.3%), Euskadi (1.8%), and Canarias (1.6%) lead the rent increases. They are followed by Madrid (1.5%), Cataluña (1.2%), Baleares (0.7%), Galicia (0.7%), and La Rioja (0.7%). The smallest increases were recorded in Castilla y León (0.5%), Andalucía (0.5%), Castilla-La Mancha (0.5%), Asturias (0.4%), Aragón (0.4%), Extremadura (0.2%), and Navarra (0.1%).

Baleares (€16.5/m2) is the region with the highest rental prices, surpassing the Comunidad de Madrid (€15.6/m2). They are followed by Cataluña (€15.3/m2) and Euskadi (€12.9/m2). At the opposite end of the table, we find Extremadura (€6.1/m2) and Castilla-La Mancha (€6.5/m2) as the most affordable regions