Rental prices

Before when you would buy a house, you would own it for a lifetime. Nowadays, personal situations and different work phases cause many to be forced to move from one place to another.

The rise in the cost of renting in Spain is worrying not only politicians, but also the private sector. Faced with a lack of supply in some Spanish cities and an increase in demand, rental prices have risen faster than wages.

The centre-left PSOE party has won the Spanish general election with 123 seats. If they combine with the far-left Unidas Podemos (42), they will have 165 seats in parliament but won’t reach an absolute majority (176), so they will need the support of other parties to govern.

In the last decade, the housing market in Spain has changed completely. Between 2009 and 2018, the number of sales increased, as did rental prices.

Yes, you read that right – you can actually rent an island in Spain. Of course, for island rentals, the price isn’t exactly within the reach of ordinary mortals: it costs 20,000 euro per night to rent this Spanish island.

The rate of growth of the price of rented housing softened in Spain in 2018 and ended the year with an increase of 9.3%, leaving the average rental price per square metre at 10.60 euro per month, which is 98 cents per square foot per month.

The price of rented housing in Spain fell by 1.3% during the third quarter of 2018, making the current average price per square metre 10.60 euro per month, which is 0.98 euro per square foot, according to the report on the development of rental prices published by idealista.

The number of evictions of people not paying their rent has increased in Spain, accounting for almost 60% of all evictions in 2017. Data from the General Council of the Judiciary (Consejo General del Poder Judicial or CGPJ) show that they grew 4.3% in the last year.

Nope, it’s not in New York and it’s not London… the coolest neighbourhood in the world is in Madrid and is one of the most traditional and famous in the capital: Lavapiés-Embajadores.

The cost of renting property has increased by 8.8% in the first quarter of 2018, to 10.60 euro/m2 (1 euro/sq ft) per month. According to the report on rental prices published by idealista, all the autonomous regions in Spain recorded increases between January and March.

The state of the rental market shows two markedly different Spains. According to research by idealista, rental prices in 11 Spanish provincial capitals are more than they were at the height of the property boom, with Madrid, Barcelona, Malaga and the islands increasing more than 10%.

Are you paying a fair price for your home in the sun, or is the owner being overly optimistic with the asking price? Try using these 5 parameters to find out…