Record-breaking rental prices: Spain sees highest monthly increase

In February, rental prices in Spain saw a monthly increase of 1.7 per cent, reaching an average of €12.6 per square metre (€/m2).

These figures mark the highest level in the country’s history, as per the latest report from idealista.

Over the last quarter, prices have risen by 5.5 per cent, while over the past year, there has been an overall increase of 11.9 per cent.

In terms of capital cities, rental prices rose in 32 capitals during the last month. Melilla saw the most significant increase at 5.4 per cent, followed by Pontevedra (3.3 per cent), Jaén (2.4 per cent), Madrid (2.3 per cent), and Las Palmas de Gran Canaria (2.2 per cent).

Conversely, Segovia experienced the largest decrease at -2.2 per cent, followed by Ciudad Real (-1.9 per cent), Vitoria (-1.5 per cent), Tarragona, and Logroño (both -1.4 per cent).

Rental prices varied across the main cities of the country. Madrid, Seville (1.4 per cent), Alicante (0.9 per cent), San Sebastián (0.7 per cent), and Málaga (0.1 per cent) saw increases, while Palma (-1 per cent) and Valencia (-0.8 per cent) experienced decreases, and Barcelona and Bilbao remained unchanged.

Barcelona remains the city with the highest rental prices at 20.8 €/m2, followed by Madrid (18.7 €/m2) and San Sebastián (17.3 €/m2).

Palma (15.5 €/m2), Bilbao (13.8 €/m2), and Málaga (13.7 €/m2) also rank high. On the other hand, Zamora (6.4 €/m2), Ciudad Real (6.6 €/m2), and Palencia (6.9 €/m2) have the lowest rental prices among the capitals.