3 July 2018 – El Economista
Rental prices in five Spanish provinces (the Balearic Islands, Las Palmas, Salamanca, Barcelona and Madrid) have reached their historical maximums in 2018, according to data provided by Fotocasa. The situation extends to nearby municipalities in the provincial capitals.
Barcelona, with a maximum price of €13.90/m2 in January 2018, is the province with the most expensive rental prices, following by Madrid, with an average of €12.36/m2, recorded in April this year. Those two provinces are followed by the Balearic Islands, with a price of €10.60/m2; Las Palmas (€7.65/m2); and Salamanca (€7.34/m2).
According to the Head of Research at Fotocasa, Beatriz Toribio, “the average price of rental housing in Spain has been growing uninterruptedly for three years, but in 2017, it did so at a very intense rate, above all in the large provincial capitals and in tourist destinations such as Madrid and Barcelona”.
Moreover, 65 other towns have also recorded their maximum prices at some point during 2018, in particular, those in the autonomous regions of Andalucía, the Community of Valencia, Madrid and Cataluña.
In this way, in Andalucía, 11 municipalities have recorded maximum prices in 2018, including Málaga, Torremolinos and Rincón de la Victoria. In the Community of Valencia, rental prices in 10 municipalities have reached their historical peaks, whilst in the Community of Madrid, 7 municipalities have seen maximum prices, such as Madrid capital, Las Rozas and Boadilla del Monte. Finally, in Cataluña, 9 municipalities have reached their maximum rental prices.
Original story: El Economista
Translation: Carmel Drake
Source:: AURA Real Estate Experts