Immediate rents (leased houses that have been less than 48 hours in the market) in February accounted for 12% of all leasing operations that were closed in all of Spain, according to a study published by idealist. Even so, the differences between markets are remarkable, since in some capitals these ultrafast rents are non-existent while in others they represent almost a third of all operations.
We have gone from considering that 'renting is throwing money' to become the option chosen by thousands of Spaniards to find their home. This logically is being noticed in a huge increase of the demand that is not accompanied by a similar increase in the supply.
In fact, although there are more flats for rent than ever, they are not enough and this situation causes prices, in some areas, to rise. It is not a bubble. The prices of homes for rent are not rising for speculative reasons, but because prices have been hibernated throughout the crisis and are now catching up in a scenario of economic improvement and employment growth, especially in large capitals.
The incidence of immediate rents is not homogeneous in all the Spanish autonomous communities. Baleares is where the pressure of demand is greater, since 19% of all homes that were rented on the islands during the month of February was not even 48 hours announced at Idealista. They are followed by the Community of Madrid (18% of immediate rentals) and Navarre (17%). Catalonia (12%) and the Basque Country (12%) are in the national average, while Aragon (11%), Andalusia (9%), Canary Islands (9%) or Galicia (8%) are below.
The lowest part of the table is completed with Cantabria, Comunidad Valenciana and Castilla La Mancha (7% in all three cases), Castilla y León (6%), Extremadura (5%), Asturias, La Rioja and Murcia % In all three communities).
Provincial capitals are the areas where the interest of rental demand is often concentrated, so immediate rental rates are usually higher.
As happens between provincial capitals, the main cities of the country have different incidences of immediate rent depending on the district being analyzed.
In Barcelona Sant Andreu is the point where the most immediate rents were registered in February: 40% of all the houses that were rented was less than 48 hours in the market. They are followed by Nou Barris (38%), Horta Guinardó (31%) and Gràcia (27%). On the contrary, the lowest rate occurred in Sarrià Sant Gervasi (8%), followed by Sant Martí and Ciutat Vella (21% in both cases).
In Madrid, however, the district most affected by this phenomenon was Villaverde (31%), followed by San Blas (29%), Latina (28%), Arganzuela, Puente de Vallecas, Usera and Villa de Vallecas The 4 cases).
When analyzing the prices of houses that have registered an immediate rent in Spain, a third (33%) are below 500 euros per month, while 46% is between that amount and 750 euros per month. The remaining 21% is divided between 14% who have an income between 751 and 1,000 euros, 5% between 1,001 and 1,500 euros and 2% above 1,500 euros.
Most of the houses that are rented in a matter of hours in the country have a size smaller than 80 m2: 11% have less than 40 m2, 31% between 41 m2 and 60 m2; And 30% between 61 m2 and 80 m2. The 16% of the houses rented urgently had between 81 m2 and 100 m2; And only 12% had an area of more than 100 m2.