Rental housing stock flops in Spain as it falls by 37 per cent in the last year

The rental market for homes has plummeted across Spain according to a new survey.

The rental market for homes is down almost 60 per cent in Barcelona over the past year and has dropped 45 per cent in Madrid, according to findings published on Thursday, April 28, by Idealista.

Property finder website Idealista notes that the supply of rental housing has fallen by 37 per cent during the first quarter of 2022, compared to the same quarter last year.

The reduction is 64 per cent in Granada and stands at 62 per cent in Girona, and 58 per cent in Barcelona.

Sevilla and Málaga have 50 per cent fewer rentals, followed by Las Palmas de Gran Canaria (-49 per cent), Valencia (-47 per cent), Tarragona (-47 per cent), Madrid (-45 per cent), Cádiz (-44 per cent ) and Palma (-41 per cent).

In spite of an overall drop in the availability of homes to rent, in seven cities there are more properties for rent than a year ago, and in two (Teruel and Segovia) the number has remained the same.

The largest increase is in Palencia, with an increase of 25 per cent, followed by Huesca, with 14 per cent. In the other five capitals the increase was in single digits: Soria (7 per cent), Valladolid (6 per cent), Ceuta (3 per cent), León (3 per cent) and Huelva (1 per cent).

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