The strong demand for rental houses in Spain contrasts with the low supply and not even the Housing Law manages to stop price rises. It was approved in April and incorporated new features regarding rent, with benefits for tenants, limiting rent increases: “The law includes measures to increase the supply of housing at enormous prices, avoiding situations of tension in the rental market and support young people and vulnerable groups in accessing housing”, as indicated by the Government.
The data indicates that the communities of the Balearic Islands (17.16 euros/m2 per month), Madrid (16.7 euros/m2 per month), Catalonia (15.94 euros/m2 per month), the Basque Country (14.64 euros /m2 per month), Cantabria (13.16 euros/m2 per month) or the Canary Islands (12.85 euros/m2 per month) reached the highest price so far in July, according to data from Fotocasa.
If we focus on the main cities in Spain, the most popular neighborhoods and districts have an increasingly affordable price for fewer pockets. In fact, the rental of shared apartments is growing. To find cheaper prices you have to get further and further away from the center. These are the 5 most expensive cities in Spain to rent and their cheapest neighbourhoods, based on the Idealista rental housing price report in Spain, where you can see the prices of most municipalities.
Barcelona
The Ciudad Condal has the most expensive average rent in Spain and records record prices largely due to seasonal rentals and tourist apartments, which are breaking the market. They have risen 14.7% compared to July 2022. The Ciutat Vella district is the most expensive of all (21.7 euros/m2 per month), but prices below the average can be found (18.9 euros /m2 per month). They are the following:
Nou Barris: 14.5 euros/m2 per month. Sant Andreu: 15 euros/m2 per month. Horta Guinardó: 15.2 euros/m2 per month. Sants Montjuic: 17.3 euros/m2 per month. Les Corts: 17 3 euros/m2 per month.
Madrid
Prices in the capital have risen 10% compared to July 2022. The Recoletos neighborhood is currently the most expensive (24.6 euros/m2 per month), exceeding the highest historical records. To get cheaper prices, you have to get away from the central areas, where we can find prices below the Madrid average (17.1 euros/m2 per month). They are the following:
Vicálvaro: 11.5 euros/m2 per month Moratalaz: 12.4 euros/m2 per month Villaverde: 12.4 euros/m2 per month Villa de Vallecas: 12.7 euros/m2 per month Barajas: 13.1 euros/m2 per month San Blas: 13.3 euros/m2 per month Latina: 13.4 euros/m2 per month Usera: 13.3 euros/m2 per month Puente de Vallecas: 13.7 euros/m2 per month
Saint Sebastian
The third most expensive city in Spain to rent is Donosti, with an average price of 16.5 euros/m2 per month. The rent has become more expensive by more than 10% compared to July 2022.
Amara: 15.3 euros/m2 per month. Old: 16.4 euros/m2 per month.
Palma de Mallorca
The fourth most expensive city in Spain to rent is found in the Balearic Islands, in fact, housing is becoming a social problem in Palma de Mallorca. Given the arrival of large foreign fortunes, the cost rises and becomes less and less accessible for locals or people who go to study or work. The average price is 14.5 euros/m2 per month, 21% more than in July 2022. Compared to the most expensive area, Playa de Palma, the cheapest neighborhoods are:
Las Avenidas: 11.8 euros/m2 per month Son Oliva – Plaza Toros – Camp Redó: 12.3 euros/m2 per month.
bilbao
Another of the most expensive cities in Spain to rent is also located in the Basque Country. Bilbao has an average price of 13.1 euros/m2 per month, 4.6% more expensive than in July 2022. Although prices are very similar between districts and neighbourhoods, Abando is the most expensive, while the most cheap are:
San Ignacio: 12 euros/m2 per month. Begoña – Santutxu: 12.1 euros/m2 per month. Casco Viejo: 12.5 euros/m2 per month. Rekalde: 12.5 euros/m2 per month. Uribarri: 12, 7 euros/m2 per month.
