In Barcelona rental prices fell by 1%, although they rose by 4.3%. The first falls started in some districts, according to Idealista.
The price of housing for rent in Spain begins to give small respite to the tenants. Although the unbridled rise of other years moderates, 2018 ended with a significant increase of 9,3%. This has left the square metre at 10,6 euros per month. The consolation for the tenants is about half of the increase recorded the previous year, when rents increased by 18,4%. Rental price Barcelona 2018Rental price Barcelona 2018
Decrease in the rental price in Barcelona
The journalist Sandra López Latón presented this tendency in an article from El País based on the data collected by Idealista with the 63.545 advertisements that have been published on their website throughout 2018. It shows that the price growth slows down and moves away from the rise of the previous years. In fact, in the last months of 2018 the first falls started. In Barcelona, rental prices have fallen by 1% for the second consecutive year. According to Fernando Encinar, head of studies at Idealista, “the large rental markets of Barcelona and Madrid are ahead of the trend of what we will see later in the rest of the cities”.
Barcelona is one of the five regional capitals that have reduced their price during the last 12 months. Howeverit is not the only one. Castellón (6,.8%), Tarragona (5,3%), Jaén (3,1%) and Ciudad Real (0,1%) also follow the same trend. In all other capitals prices are now more expensive. This is especially the case in Burgos (+12,7% with 7.1 euros per square metre per month). The increase recorded in Guadalajara (+10,4%) has also been considerable, followed by A Coruña (9,6%) and Lugo (9,5%). In Madrid the increase lowered to 4.3% due to the decreases in four of its districts: Tetuán (-3,7%), Moratalaz (0,7%), Hortaleza (0,3%) and the city centre (0,1%).
Barcelona still leader of the most expensive Spanish capitals
Despite the drop, Barcelona consolidates its position as the most expensive Spanish capital (17,3 euros per square metre), followed by Madrid (16,2 euros) and San Sebastián (15,3 euros).
As for the provinces, only four have seen their prices reduced during 2018. Barcelona comes last with a decrease of 0,2% behind Tarragona (-2,7%), Badajoz (-2,2% ) and Ciudad Real (-0,9%).
Barcelona leads the ranking of the most expensive provinces (15,8 euros per square metre per month). Madrid (15,1 euros), Guipúzcoa (13,9 euros) and the Balearic Islands (12,9 euros) follow it.
Previsions for 2019
Data for 2018 serve as the basis for the portal to say that “there are no statistical data that justify at this time the urgency with which we want to regulate the control of prices, which in fact are already being adjusted in the large markets.” It refers to the pressure exerted these days by the political party Unidos Podemos for the Government to regulate the prices of rentals, as agreed in its budget agreement. “In the coming months we will see how rental prices stabilize and enter a phase of stabilisation or even more falls. In some neighbourhoods there may still be tension in the prices but it will be based on a high demand that clashes with a scarce offer in those streets. But in general we expect a moderation in prices. Only this housing trend could break the housing policies that strangle the supply and provoke a drastic reduction of it “, concludes Encinar.