Barcelona Flats for rent - Monthly price report – November 2022
According to the monthly report on rental prices, the typical apartment in Catalonia registered an average price of €12.01/m² in November 2022, which represented a monthly decrease of -0.17% (compared to October), the most Spain content. Compared to November 2021, the rise was 9.38%, the third largest national rise.
Catalonia was the third autonomous region with the most expensive monthly payment for tenants, behind Madrid (€13.79/m²) and the Balearic Islands (€13.51/m²). For its part, the typical rental apartment in Spain had an average price of €10.38/m² in November 2022. This figure showed a monthly rise of 1.27%. In the year-on-year comparison, it grew by 4.74%.
Compared to October, Barcelona (2.89%) showed the second highest rise in Spain. From one year to the next, Barcelona (15.45%) ranked fourth in the general ranking of promotions. With €13.90 per square meter in November 2022, Barcelona was the most expensive province for renters in Spain, while Tarragona (€6.39/m²) was the cheapest province in Catalonia.
As for the Catalan capitals, they all rose monthly, with Barcelona (2.44%) showing the fifth highest rise in Spain. Year-on-year, all the Catalan capitals rebounded. Girona (20.68%) was the second with the greatest increase in the country. In the price section, Barcelona (€19.75/m²) was the most expensive provincial capital in Spain.
- Rental prices reinforce their upward trend.
- The rises are widespread and it will be difficult for this evolution to change sign because this market is under great pressure.
- The main problem is the lack of supply. Owners who had been renting for a long time withdraw their properties from the circuit because they are not willing to submit to a ceiling on rents, since they also suffer from inflation
- Those who have just arrived make high monthly payments that drive many tenants out of the market, but these properties have no problem renting out quickly despite their price.
- It is not foreseeable that prices will move towards containment because now the interest rates of mortgages do not favor the purchase, so many will extend their stage within the lease.
- The available homes are unable to respond to the increasingly large demand, especially in large cities.
- Hardening of the prerequisites to be able to rent.
- Occupancy and vandalism are fears that lead landlords to impose important filters when selecting tenants, such as deposits, guarantees, insurance or several months of deposit in advance.
Source: F. Font / www.pisos.com