Renting For Members

What's the rental market like in Spain's most popular regions for foreign residents?

The Local Spain
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What's the rental market like in Spain's most popular regions for foreign residents?
What is the rental situation like across Spain? Laura Otýpková / Pixabay

What's the current state of property rentals in Andalusia, Catalonia, Madrid, Valencia and the Balearics? Where have prices risen the most and by how much and where have they risen the least?

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Rental prices in the capital of Barcelona have already reached an average of €1,066 per month and have risen by 14 percent in the last year, according to official data from the regional government.

But stats from property portal Idealista, show that their rental listings have risen 25 percent in the last year and now exceed €19 per square metre, a figure never seen before. This means that, on average, a 100-square-metre apartment costs approximately €2,000 per month in rent.

READ ALSO - Property in Spain: What changes about renting and buying in 2023?

For example, a studio in the Gothic Quarter measuring just 20 square metres, with interior windows in building without a lift is currently on the market for €590 per month. Meanwhile, an 18-square metre, second-floor studio in Raval also without a lift is on for €675, meaning that to rent one square metre there, it costs €37.50.


Currently, in four of the ten neighbourhoods of Barcelona (Ciutat Vella, Sarrià-Sant Gervasi, l'Eixample and Sant Martí) the average rental price already exceeds €20 per square metre, which is causing enormous pressure for the residents of Barcelona. The prices are rising so much that the number of people who have moved homes for economic reasons has skyrocketed because they cannot pay rent.

Balearic Islands

The price of housing in the Balearic Islands will continue to soar in 2023 for both the cost of properties for sale and for rent, according to the College and the Association of Real Estate Agents of the Balearic Islands (API) and data from

The rental situation in the Balearic Islands has become unsustainable with ever-climbing prices and a lack of availability. A couple of years ago you could find a 2 or 3-bedroom apartment in the Balearic capital of Palma de Mallorca for around €900 a month, but now it’s almost impossible to find something similar for less than €1,200.

Those that do fall below €900 in Palma are studios, without windows, from 30 to 50 metres without a certificate of habitability. And if you are looking for a room, prices range from €700 to €1,200 with a shared bathroom.  

According to Ferran Font from the Balearics has some of the highest rental prices in the country. Soaring rental prices are causing a real problem for those who work on the islands with places such as hotels finding it difficult to get staff. The problems are also affecting essential service workers such as doctors or nurses. In places like Ibiza, the old public hospital has had to be transformed into a temporary residence where doctors on the island can live.

READ ALSO - EXPLAINED: What will happen with property prices in Spain in 2023?


Rental prices in Andalusia have risen by an average of 9.8 percent in the last year (from December 2021 to December 2022), according to property giant Idealista.

By province, the prices in Malaga have risen the most - by 21.5 percent, followed by 14.7 in Jaén. In Cádiz, rents have increased by 9.8 percent in the last year and in Almería by 7.8 percent, almost the same as in Huelva. In Seville and Granada the increases are around 4.5 percent. In the case of Córdoba, on the other hand, rental prices have fallen by around 0.8 percent.

According to the Professor of Human Geography at the University of Seville, Ibán Díaz who works as a volunteer advising citizens at the Andalusian Association for Human Rights, it is impossible to find a two-bedroom rental apartment for less than €600 in the capital of the region. There have also been reports of landlords refusing to sign contracts in Seville so that they can get rid of their tenants and raise the rent whenever they want.



The average rental price per square metre has risen by 11.2 percent in Madrid capital and the increases registered in 2022 have affected all areas of the city to varying degrees. In fact, 16 of 21 districts have reached the maximum historical price over the past year. 

The place where the rent has risen the least in Madrid capital is Hortaleza, a district on the outskirts, close to the airport. There, a studio of just 28 square metres costs €700 per month. 

READ ALSO: Is it better to buy or rent in Spain right now?

But the rise can be seen even more in the centre of the capital, the area where rental prices have increased the most, according to Idealista real estate portal. There, a 22-square-metre studio costs around €600 a month, without any natural light.

The price increase is practically identical in the rest of the Madrid region, where areas such as Arganda del Rey have registered a rise of 22 percent and in San Sebastián de los Reyes where they have grown by 13 percent.

Areas like Fuenlabrada, to the south of Madrid have registered increases of 12 percent  and in La Cueva area, flat measuring 22 square metres is being rented for €550 per month. 



According to Idealista, property prices across the Valencia region have risen by 15,8 percent from December 2021 to December 2022 and now stand at €9 per square metre.

The biggest increase was seen in the Alicante province, where rental prices rose by 18.8 percent in the last year and now stand at €8.9 per metre squared.

This is followed by Valencia capital province where rents grew by 15.4 percent to €9.5 per square metre and then Castellón, where prices increased by 9.5 percent to €7 per metre squared. The supply of housing for rent in Valencia also dropped by 35 percent in the last quarter of 2022. 


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