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Posted by Caroline Ketley on March 23, 2016
Renting in a Spanish city

If you are thinking of moving to the city, or even changing from one city to another, maybe you should give a thought to how much you should expect to pay when it comes to renting a property.

Técnicos en Tasación (TechniTasa), a leading property valuation company, has carried out a study to compare the average price landlords are asking for in rental money, and the results are given in this article.

According to their findings, Barcelona is the most expensive city in which to rent a property, while the cheapest, surprisingly, is Elche (Alicante).

In Barcelona, the average price per 100 square metres is 2,958 euro a month, and in Elche it is just 180 euro.

The report has also revealed that the maximum prices that landlords charge for renting a property in cities such as Seville, Santa Cruz de Tenerife, Valladolid or Murcia have tended to stabilize and remain the same, whereas the minimum amounts in many other cities, including Cáceres, Toledo or Las Palmas de Gran Canaria, have gone up slightly.

If you’re thinking of renting an apartment on one of the most central or emblematic streets in Madrid, Barcelona, Bilbao, Pamplona, San Sebastián, A Coruña, Cádiz, Marbella or Zaragoza, don’t expect to pay any less than 1,500 euro a month.

On the other hand, if you’re looking for something really cheap, in cities such as Huelva, Alicante, Castellón, Elche, Torrent, Málaga, Jerez, Almería or Jaén, it is possible to rent somewhere for less than 200 euro.

Drop in rental prices

Maximum rental prices have fallen the most in Santander, Zamora, Madrid and Salamanca, at around an average of 12%.

Some maximum prices have gone up too, but not as many, with the biggest increases of 13% found in Pontevedra and Vigo.

With regards to the cheapest rentals, these minimum levels have gone up the most in Santander, Castellón and Vigo, at around 11%.

And at the other end of the scale, minimum rental prices have dropped the most in Zaragoza, Huesca and Logroño (12%).

Average rental prices

To rent a 100 sq. m. apartment on Barcelona’s famous Passeig de Gràcia, you would need 2,958 euro a month. This has increased 2% from last year and is now more expensive than in Madrid. The same type of apartment on Madrid’s Calle Serrano would set you back slightly less at 2,784 euro, which has dropped 13% in price from last year. These are the two most expensive places to rent.

The next would be in Pamplona, where you’d need around 2,490 euro a month for the most exclusive streets, and this is followed by Marbella at 1,920 euro a month and Cádiz at 1,768 euro.

And with regards to the cheapest places to rent, the most economical is in the Carrús district of Elche, where you would be paying around 1,80 euro per square metre a month.

Very close is the area of Torrejón in Huelva (1,98 euro), and in joint third position are the Juan XXIII district of Alicante, the Barrio de Pescadería in Almería and Cartuja-Casería de Montijo in Granada, each with rentals priced at 2 euro per square metre a month.

However, it must be noted that while Barcelona has the most expensive rental prices in the country, you can still find many cheaper properties to rent here. The cheapest is found in the Bésos y Cuitat Meridiana districts where you can find apartments for around 600 euro a month.

And in Madrid, you can find even more affordable property, specifically in San Cristóbal de los Ángeles, with prices as low as 471 euro a month.

The difference in price between the cheapest and most expensive apartments in these cities is more than 2,000 euro.

In most other places the difference is not so wide. For example, in Telde, Las Palmas, the difference between the two ends of the scale is only 142 euro, and in Fuenlabrada, it is just 160 euro.

Source: www.eleconomista.es



leftOn The Pulse is a leading website dedicated to researching and reporting up-to-date information about Spanish property, legislation and the economy