April 14, 2020 admin

The price of rental housing rose by 2.6% in 2020 until the emergence of the covid-19

The price of rental housing has increased by 2.6% during the first quarter of the year, leaving the square meter at 11.2 euros per month, according to the rental market report published by idealista. Lleida (5.7%) and Cadiz (5.2%) led the major increases in provincial capitals between January and March. The year-on-year increase was 5%.

For Fernando Encinar, head of research at Idealista, “the report, when compiling the first quarter supply, does not show the impact that the crisis of the coranavirus has had on the rental market. The gradual exit from the lockdown will reflect the declines in rents that are already being negotiated de facto between owners and tenants. To the price decreases, it will be necessary to add a more than probable exodus from the center of the big cities to their peripheries caused by the new searches that many tenants, after weeks of confinement in houses that they have discovered that they do not like, will make, being interested in apartments with more surface, light, views and tranquillity”.

 

Autonomus Communities

Last winter, six Autonomous Communities reduced their prices. The biggest fall is that experienced in La Rioja, where the expectations of the owners have been reduced by 2.6%. It is followed by the falls of Aragon (-1.4%), Navarra (-0.8%), Cantabria (-0.6%), Asturias (-0.5%) and Murcia (-0.4%). The largest increase, however, occurred in the Balearic Islands (4.5%), Galicia (3.7%), Catalonia (3.2%), Extremadura (2.5%) and Castilla y León (2%). In Comunidad de Madrid, prices increased 1.8%.

Madrid and Catalonia are the most expensive communities to rent a house, with (15 euros/m2 and 14,6 euros/ m2, respectively). They are followed by the Balearic Islands (13.2 euros/ m2) and below them are the Basque Country (12 euros/ m2) and the Canary Islands (10 euros/ m2). On the opposite side of the table, we find Extremadura (5.2 euros/ m2), Castilla La Mancha (5.5 euros/ m2) and Murcia (6.1 euros/ m2), the most affordable communities.

Provinces

30 provinces have seen their prices increase over the winter. The biggest increase has been recorded in Cuenca, where prices have risen by 6.2%. It has also been relevant, the rallies recorded in Teruel (5.9%), Jaen (5.7%), Pontevedra (5.7%) and Salamanca (5.3%). The biggest fall occurred in Huesca (-7.4%), followed by Lugo (-4.5%) and Girona (-3.8%). In Lleida, the entry and exit of seasonal products in the area of Baqueira have caused the data has no statistical value.

The ranking of the most expensive provinces is headed by Barcelona (15.3 euros/ m2 per month), Madrid (15 euros/ m2) and Guipúzcoa (13.5 euros/ m2). Jaén is the cheapest province to rent a house, with 4,7 euros/ m2 per month. It is followed by Cáceres (4.8 euros/ m2) and Zamora (4.8 euros/ m2).

 

Capitals

Lleida is the capital where the price of rent has grown the most during the last quarter with an increase of 5.7%. There has also been a considerable increase in Salamanca and Cadiz, where they have increased by 5.2%, followed by Jaen (4.1%). In Barcelona, the price rose by 3.1%, while in Madrid the increase was only 1.2%.

On the opposite side is Malaga, where owners are asking 4.5% less than a quarter ago to rent their homes. It is followed by Huesca (-2.7%), Logroño (-2.3%), Ourense (-2.2%), Soria (-1.9%) and Pamplona (-1.7%).

Barcelona has established itself as the most expensive capital city (17 euros/m²), followed by Madrid (16.3 euros/m²) and San Sebastian (14.6 euros/m²). At the bottom of the table, we find Zamora (5.2 euros/ m2), Cáceres (5.2 euros/ m2), Ourense and Ciudad Real (5.4 euros/ m2 in both cases), the lowest

 

Source: Idealista News, 10th of april 2020: https://www.idealista.com/news/inmobiliario/vivienda/2020/04/07/781634-el-precio-de-la-vivienda-en-alquiler-sube-un-2-6-hasta-marzo-revisa-que-ha-pasado-en

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