Barcelona's rental market no longer functions as a balanced system, but rather as a fragmented structure where finding "normal" housing is increasingly difficult. According to Amat Immobiliaris' 2025 market report, the past year has consolidated a trend that has been developing for some time: the polarisation of supply. On the one hand, large flats associated with high incomes are on the rise; on the other, small flats are proliferating. In between, the most sought-after type of property – the medium-sized flat – is practically disappearing.
This phenomenon is not accidental. It stems from a structural problem: a lack of supply. And not only that, but the limited housing available does not meet the needs of the majority of renters.
According to the report, rental supply remains at "very low" levels, which conditions the entire system – from the number of contracts to tenants' profiles and, of course, prices.
In this context, although the number of contracts has grown by 8.1% in the last year, we still cannot speak of normalisation. Activity is increasing, yes, but within a structurally strained market where supply remains insufficient.
The rental price map of Barcelona confirms a stark disparity between districts. The most expensive areas are concentrated in Gràcia (€20.52/m²/month) and Horta-Guinardó (€20.80/m²/month), with notable increases of 29% and 69% respectively, whilst Nou Barris (€13.18/m²/month) and Sants-Montjuïc (€13.73/m²/month) remain the most affordable options, albeit with very different trends. The adjustment in Sants-Montjuïc (-20%) is striking compared to the significant increases in Les Corts (+35%) and Ciutat Vella (+7%), reflecting a heterogeneous market where price pressure is not evenly distributed.
The result is a market that moves, but does not improve
The picture is clear. The average rental price has risen by 8.9% in euros per square metre, from €15.09/m²/month in 2024 to €16.43/m²/month in 2025. In absolute terms, the average monthly rent has reached €1,482 – 7.1% more than the previous year.
But the most revealing data point is not so much the price as the type of housing being rented. The distribution by income bracket shows a clear shift towards higher segments. In fact, contracts above €2,500 per month have doubled in just one year.
Behind this increase, there is not only demand pressure, but also a change in the "mix" of available products.
The key lies in the gradual disappearance of the mid-sized home. The report itself notes that "everything indicates a polarisation of supply," with an increase in the proportion of large homes and, at the same time, the emergence of smaller units, whilst mid-sized products are the least available.
The reasons are numerous and cumulative. These flats have a lower turnover rate, and when they do become vacant, many owners choose to sell rather than return them to the rental market. In other cases, they simply do not come back to the market because they are taken by family members – such as the owners' children.
The result is that the housing that would best fit actual demand – particularly for families and the middle class – is effectively left out of the equation.
Compounding this is another key factor: the rental market depends almost exclusively on the turnover of existing properties. Investment in new housing intended for long-term rental has been "at rock bottom for years."
In other words, no new supply is being generated. The system is fed solely by homes entering and leaving the market, which severely limits its capacity for growth.
Furthermore, an increasing number of homes are being let outside traditional channels, making access even more difficult for a significant portion of renters. In many cases, flats are snapped up extremely quickly – even without any public listing.
The tenant profile is also changing. The proportion of foreign tenants remains very high, especially in Barcelona, where they account for 58% of contracts compared to 42% for local tenants.
This is not necessarily a reflection of increased foreign demand, but rather that in a highly competitive environment, these profiles are often favoured by landlords.
At the same time, the proportion of young people in new contracts is falling. Local tenants are mostly between 40 and 60 years old, whilst foreign tenants are in the 30 to 40 age bracket.
All of this reinforces the idea of an increasingly selective and less accessible market
The impact is clear: the housing access problem is worsening. The combination of insufficient supply, rising prices and fierce competition for every available flat is leaving a growing segment of the population out of the market.
And most importantly, there are no signs of change in the short term. The report itself is unequivocal: more activity does not mean greater normalisation and the structural housing deficit remains unchanged.
