The month of November closed with a drop in the rental price in Spain of 1,3% until reaching the 11,2 euros / m2, which also means a decrease in 2,3% quarterly, according to the last informe de precios publicado by idealista. In year-on-year terms, the price has risen a 3,6%.

The market situation caused by the pandemic has made a dent in the rental market of the main Spanish cities. Since May 2020, when the rental price peak in Spain occurred, supply has grown significantly and average incomes have fallen by 13,2% in Barcelona, a 8,4% in Palma, a 8,3% in Madrid, a 7,1% in Seville and a 6,2% in Valencia.

Autonomous communities

The median rental price of housing has fallen by 13 autonomies with respect to the month of October. Catalonia (-3,4%), Murcia (-2,1%) and Madrid (-1,8%) lead the downs. They are followed by the falls of Cantabria and La Rioja (-1,6% in both regions), Baleares (-1%), Galicia (-0,8%), Basque Country (-0,5%), Castilla y León (-0,4%), Aragon (-0,3%), Canary Islands and Castilla-La Mancha (-0,2% in both cases) and the Valencian Community (-0,1%).

CCAA – Descents November rental 2020 Monthly variation Annual variation
Catalonia 14 euros / m2 / mes -3,4% -1,2%
Murcia 6,4 euros / m2 / mes -2,1% 3,1%
Madrid 14,5 euros / m2 / mes -1,8% -2,1%

On the other hand, prices rose in Extremadura (0,5%), Navarra and Andalusia (0,4% in both regions). The price has remained stable in Asturias during the month of November.

CCAA – Uploads November rental 2020 Monthly variation Annual variation
Estremadura 5,3 euros / m2 / mes 0,5% 5,8%
Navarra 8,6 euros / m2 / mes 0,4% 1,9%
Andalusia 8,7 euros / m2 / mes 0,4% 2,5%

Madrid (14,5 euros / m2) it is the most expensive region followed by Catalonia (14 euros / m2). They are followed by the Basque Country (12,3 euros / m2) and Balearic Islands (11,9 euros / m2). On the opposite side of the table, we found Extremadura (5,3 euros / m2) and Castilla-La Mancha (5,7 euros / m2) which are the cheapest communities.

Provinces

32 provinces have lower rental prices than those registered in October. The biggest drop has been experienced in the province of Barcelona (-3,3%), Teruel and Cuenca (-2,9%), Murcia (-2,1%), Zamora (-1,9%), Madrid and Avila (-1,8% in both cases).

Provinces – Descents November rental 2020 Monthly variation Annual variation
Barcelona 14,5 euros / m2 / mes -3,3% -3,0%
Teruel 5,2 euros / m2 / mes -2,9% 7,8%
Cuenca 4,7 euros / m2 / mes -2,9% -1,2%

On the opposite side, the biggest increases have been in Lleida, where the owners ask for a 2,7% more for their homes, Cáceres and León (1% in both provinces), Granada (0,9%), Almería and Castellón (0,8% in both cases), Soria (0,7%) and Badajoz (0,5%).

Provinces – Uploads November rental 2020 Monthly variation Annual variation
Lleida 8,3 euros / m2 / mes 2,7% -14,6%
Cáceres 5,1 euros / m2 / mes 1% 6,4%
Lion 5,9 euros / m2 / mes 1% 5,4%

The ranking of the most expensive provinces is led by Barcelona and Madrid with 14,5 euros / m2, followed by Guipúzcoa (14 euros / m2).

Cuenca is the cheapest province with a price of 4,7 euros for every square meter, followed by Jaén and Zamora (4,8 euros / m2 in both cases).

Capitals

During the month of November, 24 capitals have experienced price falls. The most pronounced decreases are those of the city of Barcelona, where homeowners' expectations fell a 2,8%, Zamora (-2,7%), Santa Cruz of Tenerife (-2,4%), Madrid (-2,1%), Teruel, Burgos, Logroño and Ávila (-1,4% in the four cities).

Capitals – Descents November rental 2020 Monthly variation Annual variation
Barcelona 15,3 euros / m2 / mes -2,8% -7,3%
Zamora 5 euros / m2 / mes -2,7% -3,7%
S / C of Tenerife 8,5 euros / m2 / mes -2,4% -0,2%

On the opposite side, Huesca is the capital in which the rental price has grown the most during the month of November (4,1%), Cuenca (3,2%), Lleida (2,7%), A Coruña and Girona (2,4 in both cases), Lion (2,1%) and Lugo (1,9%).

Capitals – Uploads November rental 2020 Monthly variation Annual variation
Huesca 7,2 euros / m2 / mes 4,1% -3,0%
Cuenca 5,8 euros / m2 / mes 3,2% 6,2%
Lleida 7,2 euros / m2 / mes 2,7% 11,4%

Madrid ranks as the most expensive city to rent a home (15,4 euros / m2) slightly beating Barcelona (15,3 euros / m2). Both reached the maximum price of the historical series during the month of May, since then the price has fallen by 13,2% in the case of Barcelona and a 8,3% in Madrid.

Capitals * – The masks November rental 2020 Monthly variation Annual variation
Madrid 15,4 euros / m2 / mes -2,1% -4,8%
Saint Sebastian 14,9 euros / m2 / mes 0,1% 2,0%
Bilbao 12,5 euros / m2 / mes -1,3% 2,5%
As Barcelona already appears, we add the following city

Zamora, Conversely, is the cheapest capital of Spain with 5 euros / m2, followed by Ciudad Real (5,5 euros / m2) and Cáceres (5,6 euros / m2).

The idealista property price index

For the real estate price index of idealista, the offer prices are analyzed (on square meters built) published by idealista advertisers. Out-of-market and out-of-market ads are removed from the statistic. We include the typology of single-family homes (chalets) and we discard properties of any type that have been in our database for a long time without obtaining user interaction. The final data is generated using the median of all valid ads for each market.

[Source: Idealista]