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Madrid overtakes Barcelona as the most expensive city to rent in Spain

Madrid has now overtaken Barcelona to become the most expensive city to rent in, in Spain, according to a new report.

Madrid overtakes Barcelona as the most expensive city to rent in Spain
Madrid is the most expensive city to rent in Spain | Photo by Florian Wehde on Unsplash

In July, the prices in Barcelona fell by 3.1 percent, while in Madrid, the drop was only 1.7 percent. This is welcome news for Barcelona residents who had been suffering extortionate rental prices, particularly in central areas such as El Born.

One of the main reasons for this could be due to the lack of tourists in Barcelona, meaning landlords aren’t able to rent out their apartments to holidaymakers with high weekly prices and are forced to rent to residents with more reasonable prices instead.

Because of drop in prices, it means that now the Spanish capital is the most expensive city to rent in Spain. In Madrid, the average price is now 16.3 euros per metre squared and in Barcelona it’s 16.2 euros per metre squared, according to monthly data provided by estate agent Idealista.

As stated in an article in invertia El Español, since May the price in Madrid has fallen by 2.8 percent and in Barcelona by 7.6 percent.

apartments in Madrid

Apartments in Madrid are the most expensive in Spain | Photo by Alex Vasey on Unsplash

Prices also fell in other regions of Spain in June. In the Balearic Islands, average rental price fell by 3.6 percent, in the Canary Islands by 2.2 percent, in Navarra by 1.9 percent and by 0.5 percent in Valencia.

In Spain as a whole however, the rental price reached an average of 11.3 euros per square metre, representing an increase of 0.1 percent, even though the prices decreased in the main cities, according to the Idealista report.

In nine autonomous regions, the average rental price grew in June, leading to increases of 4.4 percent in Cantabria, 2.3 percent in Extremadura, 2.1 percent in Murcia and 1.9 percent in Galicia. Andalusia had the smallest increase with just 0.3 percent.  

The report also states that as it stands now, the Community of Madrid is the most expensive region to rent in, at an average of 15.1 euros per square metre, followed by Catalonia at 14.5 euros. The next most expensive regions are the Balearic Islands at 12.7 euros per square metre and then the Basque Country at 12.1 euros per square metre.

On the other side, the cheapest regions to rent in Spain right now are Extremadura at 5.4 euros per square metre, Castilla-La Mancha at 5.6 euros per square metre and La Rioja at 6.6 euros per square metre.

A total of 34 regional capital cities experienced a drop in rent. Average rents fell by 3 percent in Seville and Palma de Mallorca, by 2.6 percent in Valencia and by 1.8 percent in Malaga.

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OFFBEAT

Madrid police end escaped camels’ night on the town

Eight camels and a llama took to the streets of Madrid overnight after escaping from a nearby circus, Spanish police said on Friday.

A camel in a zoo
A file photo of a camel in a zoo. Photo: ATTILA KISBENEDEK / AFP

It was not immediately clear how the long-legged runaways managed to get out but Quiros Circus, which owns them, blamed sabotage by animal rights activists.

They were spotted at around 5:00 am wandering around the southern district of Carabranchel close to where the circus is currently based.

“Various camels and a llama escaped from a circus in Madrid overnight,” Spain’s national police wrote on Twitter, sharing images of eight two-humped camels and a llama hanging around a street corner.

“Police found them and took care of them so they could be taken back safe and sound,” they tweeted.

There was no word on whether the rogue revellers, who are known for spitting, put up any resistance when the police moved in to detain them.

Mati Munoz, one of the circus’ managers, expressed relief the furry fugitives — Bactrian camels who have two humps and thick shaggy coats – had been safely caught.

“Nothing happened, thank God,” he told AFP, saying the circus had filed a complaint after discovering the electric fence around the animals’ enclosure had been cut.

“We think (their escape) was due to an act of sabotage by animal rights groups who protest every year.”

Bactrian camels (camelus bactrianus) come from the rocky deserts of central and eastern Asia and have an extraordinary ability to survive in extreme conditions.

These days, the vast majority of them are domesticated.

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