Every listing on idealista in Spain already has 27 renters interested

According to a study published by idealista, the southern European real estate marketplace, rental listings posted on idealista in the first quarter of 2024 received an average of 27 leads before they were removed. This figure is 55% higher than that recorded in the same period of 2023 when they received an average of 17 leads. This surge in demand pressure, caused by the decrease in available supply, has led to rental prices rising by 12.6% in the last year.

According to Francisco Iñareta, idealista spokesperson, "These figures show that supply destruction caused by rental policies continues to worsen the chances of accessing housing, particularly impacting young people and vulnerable families".

"The reality shows that we have the same or more families looking for housing but there are increasingly fewer houses available. This not only increases price pressures but also heightens the difficulties in finding a home and exacerbates the 'castings' that potential renters have to face. It exponentially increases competition between potential tenants, which excludes a large part of those interested from the market. Rental policies should focus on this, increasing the housing supply and reducing the renters' anxiety and prices", the idealista expert points out.

The phenomenon of high demand and low supply has a different impact on different provincial capitals. Madrid and Barcelona are the largest markets where the number of renters looking to rent each property is highest, with 41 and 40 leads per listing, respectively. They are followed by Palma (38), Valencia (29), Malaga (28) and San Sebastian (28). Below the national average are Bilbao (26 leads per listing), Seville (25) and Alicante (22).

Vitoria holds the record for the number of renters interested in each listing, largely due to the very small rental stock in the capital of Alava, with 70 renters interested. It is followed by Guadalajara (59), Santa Cruz de Tenerife (44), Las Palmas de Gran Canaria and Pamplona (both with 41). At the other end of the scale are the markets in the cities of Salamanca (with only seven renters interested in each listing), Ciudad Real, Ourense and Badajoz (8). With nine renters per property are the cities of Caceres, Segovia and Cordoba.

Accelerated process in the last year

The last 12 months – during which the Housing Law has been in force – have intensified the stress suffered by renters looking for rented accommodation. In Spain, the growth has been 55%, increasing in all the provincial capitals except Soria, where it has fallen by 6%.

Among the large markets, Seville is the one that has registered the highest increase in the number of people interested in each listing – 81% more than a year ago. It is followed by increases in Palma (71%), Madrid (63%), San Sebastian (58%), Barcelona (39%), Alicante (34%), Malaga (31%) and Valencia (15%).

In 14 provincial capitals, the volume of interested renters has more than doubled (although most of them are cities where the number of leads for each listing was very low and any growth causes impressive variations): Cordoba (284%), Huesca (192%), Valladolid (162%), Oviedo (159%), Zamora (152%), Melilla (139%), Bilbao (138%), Palencia (137%), Zaragoza (131%), Jaen (122%), Salamanca (122%), Las Palmas de Gran Canaria (118%), Guadalajara (112%) and Ceuta (105%).

Data compiled and analysed by idealista/data, idealista's proptech, which provides information for a professional audience to facilitate strategic decision-making in Spain, Italy and Portugal.  It uses all the idealista database parameters in each country and other public and private data sources to offer valuation, investment, recruitment and market analysis services.