The demand for housing and the scarce supply causes rental prices to skyrocket. However, in the face of this inflation scenario, the rise has moderated according to Fotocasa. In the second quarter of the year, there has been an increase of 0.5% in the quarterly rate, according to the data handled by the aforementioned real estate portal.
Along with this rise in prices, the square meter stands at 11.61 euros per month. However, this price varies according to the autonomous communities. In this case, 17 quarterly increases and 15 year-on-year increases were registered, while in June, they were once the ones that reached the highest record price so far. 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).
Regarding the ranking of prices by provinces, Barcelona, Madrid, Guipúzcoa and the Balearic Islands exceeded the barrier of 16.00 euros/m2 per month. It was also the case of the Valencian Community (11.53 euros/m2 per month), Region of Murcia (8.79 euros/m2 per month), Galicia (8.47 euros/m2 per month), Castilla y León (8.33 euros/m2 per month) and Extremadura (6.36 euros/m2 per month). In June, in 27 of the 50 provinces (52%), rental prices per square meter reached their highest values in the entire historical series.
Price rises due to lack of supply
According to Fotocasa, a slight truce is detected at the national level in the increase in rental prices, coinciding with the reduction in inflation. However, it continues to skyrocket in the most stressed communities, with very large increases above 10 and up to 33%, and with price records in this second quarter of 2023.
At this time, the available residential rental offer is so low that the pressure of demand pushes the price up, indicates the portal, which recognizes that a very significant volume of properties has been sold, has been converted to tourist rental or is maintained due to the legal uncertainty existing in the housing law.
