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MAP: Where are the cheapest places to rent in Spain in 2020?

If you’re looking to relocate to Spain or you’re planning to move to a cheaper part of the country, here is the latest government data on the cheapest and most expensive provinces to rent a property in.

MAP: Where are the cheapest places to rent in Spain in 2020?
Photo:AFP/The Local

Figuring out where the best place to live in Spain is can be a tough decision, not least because there are considerable price differences between regions when it comes to renting a property. 

Prior to the coronavirus pandemic, the general trend for rental costs in Spain was on the up overall, especially in Madrid and Barcelona where prices had shot up by 30 and 35 percent respectively since 2010 (September 2018 figures).

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The latest data by Spanish rental platform Idealista suggests that during the three months of Spain’s lockdown rents hardly dropped across the country’s 20 biggest cities and in some cases actually went up, as in the case of Palma de Mallorca (+4.2 percent), Valencia (+3.26 percent) and Barcelona (+4.76 percent).

There had been hopes that Spain’s left-wing coalition government would introduce rent caps especially with regard to the growing job crisis born from months of economic stagnation.

But on Tuesday June 30th, the country’s Transport and Urban Affairs Minister José Luis Ábalos made no mention of this, announcing instead a new rent index which allows Spaniards to zoom in on specific areas to find average rent prices.

Although the Spanish government has used data from more than €11.2 million rental contracts, the website itself doesn’t appear to be that user-friendly.

However, here at The Local Spain we’ve started crunching the numbers and compiled the following map which shows the latest average rent prices across Spain’s 50 provinces in 2020 (with the exception of Spain’s Basque Country which didn’t supply the data).

The most expensive areas to rent in Spain

Madrid takes top place with rents on average costing €780 a month, more than €300 than across the majority of Spain.

Next in line is Catalonia, where tenants paid on average €694, and the touristy Balearic Islands where renting costs €624 a month on average.

At or under the €600 mark but still more pricey rents than most of Spain are the Andalusian provinces of Seville (€561/month) and Málaga (€600).

According to the data, Cantabria is the most expensive region to rent along Spain’s northern coast with average rents around €490, although the Basque Country’s provinces would be higher than this if the data had been provided.

The beautiful coastal town of Peñíscola is in Spain's cheapest province to rent: Castellón. Photo: Zoies Koraki/Flickr

The cheapest areas to rent in Spain

Lugo in the green region of Galicia is the cheapest place to rent in the north of Spain at €363/month, with neighbouring Ourense and León also well-priced at around €400 on average.

Ciudad Real to the south of Madrid and Ávila and Zamora to the west have the best rents in Spain’s interior, averaging €380 or less. 

Then there are the mainly rural provinces of Cáceres and Badajoz in Extremadura – on Spain’s border with Portugal, where rents hover around the €400 mark.

The cheapest province on Spain’s Mediterranean coast is Castellón at €360, making it also the cheapest place to rent in the whole country.

Further down the country’s eastern coastline Almería and Murcia are also well-priced at around €400 while Valencia and Alicante provinces are €50 more expensive on average.  

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HOUSING

Spain to give young mid-income earners €250 monthly rental allowance 

Spain’s Prime Minister announced on Tuesday his government will launch a housing scheme whereby 18 to 35 year olds who earn below €23,725 gross per year will be able to get a monthly discount of €250 off their rent.

Spain to give young mid-income earners €250 monthly rental allowance 
The average Spaniard leaves the nest at 29.5 years of age. Photo: Gabriel Bouys/AFP

Spanish PM Pedro Sánchez made the announcement during an Urban Affairs Forum in the southern city of Seville, referring to it as a “special plan” aimed at ensuring the emancipation of young people in the country.

“We’re going to create a youth housing benefit of €250 per month for the next two years which will benefit young people between 18 and 35 years old with incomes below €23,725,” Sánchez stated, meaning that these tenants will be able to claim a maximum of €6,000 in total.

The most vulnerable families will receive extra state aid to cover “up to 40 percent” of their monthly rent.

The income limit of €23,725 gross earnings a year amounts to wages of around €1,500 net a month. 

According to a September survey by Spanish property engine Fotocasa, 62 percent of under 35s in Spain face financial obstacles when buying or renting a property.

“We’re going to allocate a public policy specifically to reduce the age of emancipation which is so unbearably high in our country, so that young people can have access to decent rental housing,” Spain’s PM explained. 

The average Spaniard leaves the nest at 29.5 years of age, the sixth latest bloomers in Europe, where the average age of emancipation is 26.2 years old.

Sánchez’s announcement comes just as the Spanish left-wing coalition government of PSOE and Unidas Podemos have agreed on Spain’s Housing Budget for 2022, although the new legislation still has to be approved by the Spanish Cabinet. 

This is likely to include new measures aimed at placing price caps on rentals in Spain, based on a price index put together by Spain’s Ministry of Transport and Urban Affairs.

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