The areas where renting has become a luxury

Published on February 1st 2018

An increase in demand and its attractive profitability have triggered the rental business in Spain.

The year 2017 closed with the highest rise in prices of rental housing registered to date. According to the index of the Fotocasa real estate portal, last year the rental in Spain rose on average by 8.9%, until it stood at 10.12 euros per square meter. The rise is widespread in almost all the territory (only two communities, Aragón and Navarra do not register gains), with special emphasis on regions, such as Madrid and Catalonia, which have overtaken the Basque Country as communities with the highest prices (12 , 39 euros for the case of Catalonia and 11.45 for the Community of Madrid).

Since March 2015, the rental price in Spain has registered annual increases

Especially accused are the rises in the big capitals of these regions. Thus, in all Madrid districts the average price is exceeded at the national level, while in Barcelona capital rises the rent in all districts. The place of the most expensive municipality, traditionally played between San Sebastián and Barcelona, ​​has been, since 2015, be taken over by the Catalan capital. In addition, in 2017, the five most expensive municipalities in Spain are Catalan.

This price increase reflects the good times the rental market is experiencing. "The contacts in rental advertisements took place in the first weeks, now they focus on the first day. There are floors that are in good condition and location, they are rented in less than 24 hours."

 

Source: Expansion

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