The rental housing offer in Spain falls by 5% in the last year and marks the lowest since 2016

The decline is gentler than that recorded in the last quarter of 2022, when it fell by 17%. In Madrid, it fell by 19% and in Barcelona by 9%

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Editorial Team

4 May 2023, 17:39

Spain's rental housing supply has fallen by 5% during the first quarter of 2023, compared to the same quarter last year, according to a study published by idealista, the southern European real estate marketplace. Despite the drop flattening out, the volume of rental housing on offer is at its lowest since 2016.

Provinces

The provincial situation has been similar over the last year. Santa Cruz de Tenerife recorded the biggest drop in supply with 27% less than a year ago. It is followed by Las Palmas (-21%), Madrid (-19%), Balearic Islands (-15%), Malaga (-15%) and Soria (-15%). They are followed by Vizcaya (-13%) and Guipúzcoa (-13%). In the province of Barcelona, supply remained stable.

Cordoba saw its rental housing stock grow by 64%, followed by Castellon (54%), Jaen (47%) and Lleida (37%). Huesca (32%) and Girona (31%) are both above 30%.

Province capitals

Twenty-four province capitals now have far fewer homes for rent than they did a year ago. There are 27% fewer rental properties in Malaga, 24% in Palma, 23% in Guadalajara, 22% in Santa Cruz de Tenerife and 20% in San Sebastian, Bilbao and Soria. Alicante, Madrid and Valencia have 19% fewer rentals, while in Las Palmas de Gran Canaria it stands at 15%. They are followed by Ourense (-14%) and Melilla (-13%). In the city of Barcelona, the fall was 9%.

Large markets such as Madrid, Barcelona, Malaga, Alicante, San Sebastian, Valencia and Palma have a minimum supply level or one in line with that recorded in 2016.

Despite the widespread drop in rental properties, there are actually more properties for rent in some cities than a year ago. The largest increase is in Jaen with a 100% increase, followed by Girona with 82%, Cordoba (75%) Huesca (68%) and Castellon (64%). Below 50% are Lleida (35%), Tarragona (32%), Vitoria (29%), Badajoz (23%), Cuenca (22%) and Caceres (22%).