The month of October ended with an increase in rental prices in Spain of 10.2% year-on-year and stood at €13/m2, according to the latest price report published by idealista. Over the last 3 months, the price has decreased by 0.7%, while the last month saw a slight increase of 0.1%.
2006 – 2024 | Rent price index and annual variations
Annual variation per month since 2007
The cities of Avila, Madrid, Palma and La Coruña exceed 15% increase
Up to 50 Spanish capitals show higher prices than in October last year, with the sole exception of Lleida where rents have fallen by 0.9% over the past year. The most pronounced increase is in Avila, where owners' expectations increased by 19.2%, followed by Madrid (15.9%), Palma (15.3%) and A Coruña (15%). On the other hand, Melilla (4.7%) is the capital where rents have increased the least over the past year, followed by Ciudad Real (4.9%), Cádiz (4.9%), Almería (5 .4%) and Soria (5.6%).
The behavior of rents in the main markets of the country, with the exception of Palma and Madrid, has been completely bullish, with rents increasing in Alicante (13.9%), Malaga (13.8%), Barcelona (13 .5%), Valencia (12.3%), Seville (7.2%), Bilbao (6.5%) and San Sebastian (6.4%).
Barcelona remains the capital where rents are the most expensive with a price of €23.1/m2, followed by Madrid (€20.6/m2) and San Sebastian (€17.9/m2). Next come Palma (17.1€/m2), Malaga (14.8€/m2) and Valencia (14.4€/m2).
On the other hand, Zamora (6.6€/m2) and Ciudad Real (6.7€/m2) are the capitals where rents are the lowest.
October 2024 | Average rental price of accommodation
Provincial capitals (€/m2/month)
In March 2023, we improved our methodology to remove outliers and duplicates, after which the historical series was regenerated.
Source: idealista Created with Datawrapper
Rent prices have increased in all Spanish provinces over the past year
The largest increases were observed in Cáceres (23.6%), Madrid (16.3%), Ávila (14%), Cuenca (13.9%), Cantabria (13.5%), Valencia and Barcelona (13.4% in both cases).
Barcelona (19.8€/m2) is the most expensive province to rent a property in Spain, ahead of Madrid (18.8€/m2), the Balearic Islands (17.6€/m2) and Gipuzkoa (16€ /m2). They are followed by Malaga with 14.8€/m2 and Las Palmas with 14.1€/m2. Jaén (5.8€/m2), Ciudad Real (6.1€/m2) and Zamora (6.2€/m2) are the cheapest provinces.
October 2024 | Average rental price of accommodation
Provinces (€/m2/month)
In March 2023, we improved our methodology to remove outliers and duplicates, after which the historical series was regenerated.
Source: idealista with Datawrapper
The Community of Madrid tops the list of regions
Rents have increased in all Spanish regions since October last year. The Community of Madrid leads the increases (16.3%), followed by Cantabria (13.5%), Extremadura (13.4%), the Valencian Community (12%), Asturias (11 .1%), Catalonia (10.8%) and Galicia (10.4%). Increases were less than 10% in the Balearic Islands (9.3%), Aragon (8.9%), Canary Islands (8.8%), Andalusia (8.7%), Castile and Leon (8.7%), Castile-La Mancha (7.7%), Euskadi (7.6%), Murcia region (6.9%), La Rioja (6.5% ) and Navarre (6.4%).
The Community of Madrid (18.8€/m2) and Catalonia (17.8€/m2) are the regions where prices are the highest. They are followed by the Balearic Islands (17.6€/m2), the Basque Country (14.2€/m2) and the Canary Islands (14€/m2). At the other end of the table, Extremadura (€6.9/m2) and Castile-La Mancha (€7.2/m2) are the cheapest regions.
October 2024 | Average rental price of accommodation
In March 2023, we improved our methodology to remove outliers and duplicates, after which the historical series was regenerated.
Source: idealista Created with Datawrapper
The idealista house price index
The idealista real estate price index is compiled from the analysis of offer prices (based on square meters built) published by idealista advertisers. In March 2023, we improved our methodology to eliminate atypical products and duplicates, after which the historical series was regenerated. In addition, atypical listings and listings with off-market prices are removed from the statistics. We include the typology of single-family houses (villas) and eliminate properties of any typology that have been in our database for a long time without obtaining interaction from users. The final data is generated using the median of all valid listings in each market.
Data collected and analyzed by idealista/data, idealista's proptech that provides information to a professional audience to facilitate strategic decision-making, both in Spain, Italy and Portugal. It uses all the parameters of the idealista database in each country, as well as other public and private data sources, to offer valuation, investment, recruitment and market analysis services.
Source : Idealist
