Rent in Spain increases by 2.4% in the first quarter of 2023

The cities of Barcelona, Madrid, and San Sebastian surpass 15 euros/m2 per month in rent. 36 provincial capital cities have higher rental prices than three months ago. Huesca is the capital city where the rental price has increased the most during the winter, with an increase of 14.1%. This is followed by the increases in Jaen (11.8%) and Palma (7.2%). In Zamora, the increase has been 6.3%, followed by Teruel and Melilla (6% in both cases).

Among the most dynamic markets, in addition to Palma, rents increased by 3% in Valencia and 2.7% in Madrid. Below 2% are the increases in Sevilla (1.4%), Alicante (1.3%), Bilbao (0.9%), Barcelona (0.7%), and Malaga (0.4%).

The biggest decreases have been recorded in Huelva (-2.5%), Cadiz (-2%), Leon (-1.7%), Soria (-1.6%), Santander (-1.3%), and Santa Cruz de Tenerife (-1.2%), the only ones with decreases greater than 1%.

Barcelona is the most expensive city to rent an apartment, at 18.4 euros/m2, followed by Madrid (16.2 euros/m2), and San Sebastian (15.7 euros/m2). In fourth place is Palma (13.7 euros/m2), and in fifth place is Bilbao (13.3 euros/m2). At the bottom of the table, we find Zamora (5.8 euros/m2), Ciudad Real (6.2 euros/m2), Caceres, and Lugo (6.3 euros/m2 respectively), Avila (6.4 euros/m2), Ourense, and Palencia (6.5 euros/m2 each).

Jaen, Huelva, and Balearic Islands lead quarterly increases among provinces 45 provinces have seen their prices increase during the last quarter. The biggest increase has been recorded in Jaen, where prices have grown by 12%. The increases in Huelva (8%), Balearic Islands (6.6%), Granada (5.2%), Salamanca (4.9%), Teruel (4.9%), or Segovia (4.8%) have also been significant. In Madrid, prices grew by 2.4%, while in the province of Barcelona, they increased by 0.8%. The biggest fall is recorded in Caceres (-1.2%), followed by Leon (-0.5%).

The ranking of the most expensive provinces is led by Barcelona (15.7 euros/m2 per month), Madrid (14.8 euros/m2), Balearic Islands (14.5 euros/m2), and Guipuzcoa (14.2 euros/m2). Zamora is the cheapest province to rent a property, at 5.4 euros/m2, followed by Caceres, Ciudad Real, and Cuenca (5.6 euros/m2 in all three cases).

La Rioja, the only autonomous community not to register an increase in rental prices Prices increased in all communities during the winter, except in La Rioja, where prices fell by 0.3%. The biggest increase was in Balearic Islands (6.6%), Castilla y Leon (3.4%), Andalucia, Asturias, and Galicia (2.8% in all three cases). In Madrid, they increased by 2.4%, while in Catalonia, they grew by 0.7%, the softest increase.