Property for rent in Spain
The real estate market of properties for rent in Spain is going through a positive moment thanks also to government policies that favour its growth.
The Balearic Islands are the community with the highest percentage of properties for rent in Spain. The Community of Madrid is the one that has experienced the most important growth from the point of view of property for rent in Spain.
In Spain, the average rental property offer is 2.5 homes per 1,000 inhabitants.
The offer of properties for rent in Spain is wider in the provinces of Salamanca, Alicante, Ciudad Real, Segovia, Burgos and Cantabria, taking into account both the population and the number of property for rent in Spain.
The communities that have raised the average of properties for rent for families in Spain in recent years are Andalusia, Cantabria, Castilla y León, Castilla-La Mancha and the Community of Valencia.
The residential rental market in Spain continues to show a positive trend.
Prices for properties for rent in Spain have increased in most provinces in the last six months.
The profitability of residential rental for properties for rent in Spain continues to be interesting, with slight increases in some provinces and a tendency to maintain prices in the rest of the country.
Compared to the sales market, the rental property market in Spain has much lower numbers but the demand for properties for rent, particularly in the centre of large cities, sees a sharp rise in prices. The legislative changes promoted by the government have raised doubts among the owners, but it is still early to say how much and how it will affect the rental market.
Among the main urgent measures there is an increase in the terms of the lease contract from three to five years, the increase of the tacit extension from one to three years or the limit on the collection of the deposit two months after the lease.
Measures such as these could penalize owners of properties for rent in Spain and could cause a lowering of supply and higher prices.
On a national level, the prices of contracts for properties for rent in Spain have increased by about 15% year-on-year compared to 7% of the increase in sales prices. Meanwhile, Madrid and Barcelona maintain their particular behaviour, although in both capitals it is noted that maximum rental prices begin to decrease or restrain their increases.
According to statistics on the real estate market of properties for rent in Spain, the provincial capital that offers greater stability investors is San Sebastián. Murcia and Santa Cruz de Tenerife are the ones that record the highest yields.
In the capital of Madrid, the district of Recoletos is the best from the point of view of properties for rent in Spain. In Barcelona, meanwhile, the Galvany district is a refuge for investors who buy properties and then rent them, and La Trinitat Vella, the riskiest.