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Fotocasa Index: The price of housing for rent drops by -0.5% per month in November

The average price of housing for rent in Spain falls by -0.5% per month and stands at € 8.18 / m2 per month, according to the latest data from the Fotocasa property portal . Regarding the year-on-year increase, the price of rental housing rises 0.6% compared to last year. This year-on-year increase continues on the upward path of the last 45 months, only broken last August when the year-on-year price fell by -2.2%.

“The Fotocasa Price Index continues to show a clear trend towards stabilization in rental prices in much of the country. If a year ago, the average price rose in all the autonomous communities in year-on-year terms, now it only does so in five. And the year-on-year rise in the average price is only a few tenths, although in large cities such as Madrid or Valencia, we continue to register increases of over 10%, ”explains Beatriz Toribio, director of Studies at Fotocasa .

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On the other hand, the average price for the month of November (€ 8.18 / m2 per month) returns us to data for October 2010, when the rental price stood at € 8.16 / m2 per month. Since reaching the maximum price in May 2007 (€ 10.12 / m2 per month), the price of housing has accumulated a -19.2% drop.

Source: Fotocasa

The monthly price rises in two communities

As for the autonomous communities, in November the price rises in two communities. The community with the highest monthly price increase in November is Madrid (1.3%), followed by the Basque Country (0.5%).  

At the other extreme, 15 communities decreased the year-on-year price in November. The community that decreased the most was La Rioja (-5.1%), followed by Navarra (-4.9%) and Extremadura (-4.8%). At the other extreme, Cantabria (-0.2%), Catalonia (-0.5%) and Andalusia and Asturias (-0.7%) are the communities with the lowest drop in price in November.

As for the price ranking, Madrid is the most expensive community to rent a second-hand home, with a price of € 13.09 / m2 per month. It is followed by Catalonia (€ 12.02 / m2 per month), the Basque Country (€ 9.80 / m2 per month) and the Balearic Islands (€ 9.57 / m2 per month). On the opposite side, Extremadura (€ 4.40 / m2 per month) and Castilla-La Mancha (€ 4.87 / m2 per month) are the two communities with the most affordable rental housing prices.

Source: Fotocasa

Regarding the evolution by province , six of them register monthly increases in the rental price compared to last year, with increases ranging from 1.8% in Vizcaya to 0.1% in Malaga. On the contrary, the rental price decreases monthly in 44 provinces with decreases ranging from -0.2% in Cantabria to -10.4% in Teruel.

Barcelona is the most expensive municipality to rent a home

Regarding the analysis of the municipalities , in the month of November, the city of Barcelona stands out for one more month as the most expensive to rent a house with € 16.02 / m2 per month and registers an interannual increase of 4.2%. It is followed by Madrid (€ 15 / m2 per month), Sitges (€ 14.31 / m2 per month) and Gavà (€ 14.25 / m2 per month).

The price increases in 18 districts of Madrid and in six of Barcelona

Of the 21 districts analyzed by Fotocasa , 18 registered price increases in the month of November. Arganzuela, Moratalaz and Vicálvaro are the districts that register a higher price with 4.9%; 3.1% and 2.4%, respectively. On the contrary, Villa de Vallecas is the district that registers a greater decrease in the month of November, specifically with -0.9%.

As for the lost items fire emblem with the highest and lowest prices, Salamanca is the most expensive district in the capital to rent a house with a price of € 18.27 / m2. Chamberí follows, with € 17.89 / m2; Center, with € 16.36 / m2; and Moncloa, with € 15.80 / m2. On the opposite side, Villaverde is the cheapest district to rent a home, with a price of € 10.35 / m2.

Read more: Qnnit

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