Rent prices in Spain continued to rise in September to €11.8/m2 per month, an increase of 9.3% year-on-year and 1% below the national record (August 2023). Twenty-one provincial capitals set record highs in the ninth month of the year, with Barcelona leading the way (€20/m2), followed by Madrid (€17.7/m2), San Sebastian (€16.9/m2), Palma (€14.6/m2) and Bilbao (€13.2/m2).
In this same idealista rental price report, we can see how 50 neighbourhoods or areas of Spain exceed €18/m2 monthly rent, most of them in the cities of Madrid (24) and Barcelona (18), but there are also neighbourhoods in San Sebastian, along with luxury coastal areas such as Sanxenxo (Pontevedra) or Gava (Barcelona), as well as Calvia on the island of Mallorca and the tourist areas in the south of Gran Canaria, such as Playa del Ingles or Maspalomas.
La Barceloneta neighbourhood, in Ciutat Vella, tops this list of the most expensive areas to rent in Spain, at €26.7/m2 per month, after rising 14.8% year-on-year in September. It is still below its record rental price of €27.1/m2.
Next is Recoletos, in Madrid's Salamanca district at €24.9/m2, a new high for the area, after seeing prices increase by 13.1% year-on-year. It completes the top three most expensive rent neighbourhoods: La Dreta de l'Eixample, in the Eixample district at €24.7/m2, also reaching values never seen before, and after an increase of 16.2% compared to the same month in 2022.
The top 10 listed neighbourhoods are above €22/m2, and six of them have set record rental prices, such as Castellana, Almagro or Chueca in Madrid, while Diagonal Mar and the Front Maritim del Poblenou or Sant Pere - Santa Caterina i la Ribera are still below the peak.
September 2023 | The most expensive neighborhoods to rent a house
Of the 50 locations, 31 of them have reached the highest prices this September, which also includes the Adina-Portonovo area, in the famous coastal town of Sanxenxo, in Pontevedra – the first area outside the two major capitals, in 18th place.
A little further down is Playa del Ingles (21st), in the heart of the tourist area of the island of Gran Canaria. Belonging to San Bartolome de Tirajana, it reaches prices of €20.5/m2. And 28 of these 50 areas still exceed €20/m2.
These rent prices can still be found in the famous neighbourhoods of Huertas-Cortes or El Viso, in Madrid, or Sant Gervasi–La Bonanova, in Barcelona, the Gavà Mar area on the coast of Barcelona; next to Calvia, on the island of Mallorca, or the Maspalomas-Meloneras area, in the south of Gran Canaria.
In addition to these outstanding tourist areas, the Romantic Area in the centre of San Sebastian and the district of Gros also 'creep' into the top 50 most expensive neighbourhoods to rent in Spain. Costing €18.6/m2, respectively, they compete with La Sagrada Familia, Fuente del Berro, Les Corts and Cuatro Caminos.
Palma to ban all new holiday rentals
The mayor of Palma, Jaime Martínez, has announced his intention to prohibit any new tourist rentals across the entire municipality of the Balearic capital.
Work begins on 109 affordable rental homes in the heart of Málaga
Lagoom Living has begun demolition work on seven buildings in Málaga’s Lagunillas neighbourhood, in the heart of the city, where it plans to construct a residential complex comprising 109 affordable rental homes. Scheduled for completion in December 2027, the development will revitalise currently derelict or disused pieces of land and buildings located near the iconic Plaza de la Merced.
22 people compete for each room that comes on the market in Spain
Soaring rents and fierce competition are pushing many people towards room rentals. On average, 22 prospective tenants compete for each listing on idealista, though demand remains lower than for full homes. Palma (65) and San Sebastián (62) record the most enquiries per room, while among the largest markets, Barcelona (22) edges ahead of Madrid (20).
Foreign rental hotspots in Spain 2025: Balearics, Alicante and Málaga
Rental properties in the Balearic Islands (29.1%), Alicante (27.4%), Málaga (25.7%) and Santa Cruz de Tenerife (21.9%) are seeing strong international demand, each accounting for more than 20% of total rental interest in Q1, according to a study by idealista.
Everything you need to know about tenant guarantee insurance in Spain
When renting a home, it’s natural to have questions about the options that ensure peace of mind for both you and the landlord. This guide answers the most frequently asked questions about tenant guarantee insurance, a solution designed to protect you while giving your landlord confidence.
Tenant guarantee insurance in Spain
In the rental market, security and confidence are essential for landlords, agencies and tenants alike. That’s why idealista and Aserta are launching a new tenant guarantee insurance – an innovative, exclusive product designed to offer peace of mind and ensure balance for all parties.
idealista's rent revolution with first tenant rent guarantee insurance
Amid a rental market plagued by limited supply and soaring prices, idealista is introducing an innovative rental insurance policy for tenants. The plan covers up to 12 months of unpaid rent, along with water, electricity and gas bills, should the tenant be unable to pay. It also includes legal expenses related to eviction proceedings or claims for outstanding amounts, offering comprehensive protection in uncertain times.