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The rental price rose more than 5% in 2019, exceeding the highs of 2007

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The price of the house for rent in Spain closed 2019 with an increase of 5.1% to be placed at 10.18 euros per square meter per month. This figure exceeds the 10.12 euros that were recorded in 2007, when the price of the rental home was at maximum, according to the data of the report 'Housing for rent in Spain in 2019' prepared by the portal Fotocasa real estate.

The interannual variation rate has been increasing in Spain since February 2015, the month in which it began to register the first increase in the rental price since February 2008, as they explain. In fact, since the first increase in the rental price at the interannual level (1%) was detected in February 2015, the price did not stop growing until it reached its maximum value (18.8%) in March 2018.

However, the bulky double-digit year-on-year increases recorded in 2017 and 2018 have not been repeated in 2019 and the increases recorded have barely exceeded 5% since the second quarter of the year. In addition, the annual increase recorded at the end of 2019 (5.1%) is the sixth recorded in this Real Estate Index in its 13 years of analysis and the fifth chain increase, after the last decrease registered in 2014 (-1.9% ).

"The rise in the average price of rental housing has been widespread in almost all autonomous communities in 2019, although not in all of them it rises with the same force. As an example, the communities of Catalonia and Madrid that during the last years had risen with force have begun to moderate their growth by 3.1% in the case of Catalonia and 2.3% in the case of Madrid, "says the director of Studies and Training at Fotocasa.

He adds that "it is expected that the rest of the communities that began later increases in rental prices will begin to moderate their increases."

Thus, at the end of 2019, the average price of rental housing has increased in 16 of the 17 autonomous communities. The largest increases registered correspond to Comunitat Valenciana with 10.2% and the Basque Country with 10%. Very closely followed Andalusia (9.4%), Galicia (8%), Region of Murcia (7.8%), Aragon (7.2%), Navarra (5.9%), Cantabria (5.2 %), La Rioja (4.7%), Canary Islands (4.4%), Asturias (4.3%), Catalonia (3.1%), Madrid (2.3%), Castilla-La Mancha (2 , 1%), Castilla y León (0.9%), Extremadura (0.3%). On the other hand, it is striking that only in the Balearic Islands the price of the annual rent decreases (-0.3%), when it closed 2018 with the largest annual increase, 14.9%.

In 2019, the Community of Madrid is placed in the first place with the price of 14.86 euros / m2 per month, moving Catalonia to second place for the second consecutive year. It is the second year in the entire historical series of the report Housing for rent in Spain in which the Community of Madrid tops the ranking of the most expensive communities. On the other hand, Catalonia is positioned as the second most expensive autonomous community with a price of 14.14 euros / m2 per month, followed by the Basque Country (13.06 euros / m2 per month), Balearic Islands (12.19 euros / m2 per month) and the Canary Islands (9.74 euros / m2 per month).

By provinces, the price increased in 2019 in 43 of them, that is, in 86%. If all the provinces are analyzed in detail, it is seen that ten of them have annual double-digit increments. The provinces with the highest increase in 2019 are: Seville (14.2%), Castellón (12%), Lleida (11.8%), Girona (11.6%), A Coruña (11.5%), Bizkaia ( 11.4%), Valencia (11.4%), Cádiz (11.1%), Toledo (10.7%) and Alicante (10.2%). At the other extreme, the maximum fall corresponds to Palencia with -2.6%. They are closely followed, Cáceres (-1.8%), Cuenca (-1.2%), Lugo (-0.7%) and Illes Balears (-0.3%).

In 2019 Barcelona chains for the fifth consecutive year the first place as the most expensive province in Spain with 15.74 euros / m2 per month. Madrid occupies second place for the third consecutive year with 14.86 euros / m2 per month. In third place in the ranking of provinces, with an average price of 14.52 euros / m2 per month, we find Gipuzkoa for the third year; After having played from 2007 to 2016, only the first two places in the ranking with Barcelona or Bizkaia.

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