Rental rates grow in Spain, but recession still ahead
The prices of rent housing grew by 2.6% in 2020. But prior to the beginning of epidemic.
Lease rates in Spain increased by 2.6% in the first quarter 2020, to mean value of €11.2 a month for square meter, according to the report of the Spanish analyst company.
Lérida (+5.7%) and Cadiz (+5.2%) headed the rating of the provincial capitals on gain speed during the period from January to March. Increase year on year was 5%.
The head of researches of the Spanish analyst company Fernando Ensinara noted: "The report is based on offers for the first quarter 2020, and, so does not show impact which the outbreak of a coronavirus had on the lease market. Gradually there will be noticeable a rent decrease which is already discussed between owners and tenants. It is necessary to add more than probable moving of tenants from the center of the large cities on the periphery caused by desire to rent apartments of the bigger area, access to the nature and in quieter place to reduction of prices".
Details:
For the last winter six autonomous communities lowered rental rates. The greatest falling – in La-Riokhe, for 2.6%. Further there are Aragon (-1.4%), Navarre (-0.8%), Cantabria (-0.6%), Asturias (-0.5%) and Murcia (-0.4%). The greatest gain – on Balearic Islands (+4.5%), in Galicia (+3.7%), Catalonia (+3.2%), Extremadura (+2.5%) both Castile and Leon (+2%). The Madrid community of the price grew by 1.8%.
Madrid and Catalonia are the most expensive communities for lease of housing - €15 and €14.6 for sq.m respectively. They are followed by Balearic Islands (€13.2), and there are the Basque Country (€12) and the Canary Islands (€10) below. On the counter party – Extremadura (€5.2), Castile La Mantcha (€5.5) and Murcia (€6.1).
In 30 provinces of the price grew during the winter. The largest growth is recorded in Cuenka (+6.2%). Further there are Teruela (+5.9%), Haena (+5.7%), Pontevedra (+5.7%) and Salamanca (+5.3%). The greatest falling – in Uesk (-7.4%), Lugo (-4.5%) and Girona (-3.8%).
The rating of the most expensive provinces is headed by Barcelona (€15.3), Madrid (€15) and Gipuskoa (€13.5). Haen is the most budgetary province for lease of housing – €4.7 for sq.m a month. It is followed by Cáceres (€4.8) and Zamora (€4.8).
Lérida is the capital in which lease rates for the last quarter grew most of all – by 5.7%. Also considerable rise Haene (+4.1%) is recorded in Salamanca and Cadiz (+5.2%). In Barcelona the prices grew by 3.1%, in Madrid – for 1.2%. Falling was observed in Malaga (-4.5%), Uesk (-2.7%), Logronyo (-2.3%), Orens (-2.2%), Soriya (-1.9%) and Pamplona (-1.7%).
Barcelona is the most expensive capital (€17), it is followed by Madrid (€16.3) and San Sebastian (€14.6). The cheapest capitals for lease of housing – Zamora (€5.2), Cáceres (€5.2), to Orensa and Syyudad-Real (€5.4).
