Rental Costs Continue to Rise Across Spain
In Spain, in February, the cost of renting a home fell -0.1% on the monthly basis and increased by 10.4% year-on-year. This brought the average cost per square metre to €13.54.
“Rental prices continue to increase at a double-digit rate, at a very significant rate of increase, similar to that seen during the 2007 market boom. Although the overpricing situation is similar to that of 18 years ago, the cause is different now. Rental demand is at an all-time high while supply is at an all-time low, putting upward pressure on prices. All of Spain is suffering from this phenomenon, with all regions except Aragon exceeding record levels. Prices have already surpassed €1,000 per month nationwide, but in cities with greater population appeal, in tourist areas, and on the archipelagos, average prices are approaching €1,500. Therefore, housing affordability is at risk,” explained María Matos, Director of Research and spokesperson for Fotocasa.
Spain has gone from a year-over-year increase of 7.3% in February 2024 to 10.4% in the same period in 2025. In the last 12 months analysed, housing prices have increased from €12.27 p/m² in February 2024 to €13.54 p/m² in February 2025.
Autonomous Communities
All 17 autonomous communities saw year-over-year increases in the cost of property for rent in February. The autonomous communities with increases greater than 10% are: Aragon (15.3%), Madrid (14.6%), Asturias (13.8%), Region of Murcia (13.6%), La Rioja (12.6%), Catalonia (12.5%), Navarre (12.4%), the Canary Islands (11.9%), the Valencian Community (10.2%), and Andalusia (10.0%). With increases below 10% we see Castilla-La Mancha (9.6%), Galicia (9.6%), the Basque Country (8.9%), the Balearic Islands (6.7%), Castilla y León (6.6%), Extremadura (4.5%), and Cantabria (0.5%).
Regarding the ranking of Autonomous Communities with the most expensive rental housing prices in Spain, the four with prices above €15.00 p/m² per month are: Madrid (€20.96 p/m²), Catalonia (€18.50 p/m²), the Balearic Islands (€18.34 p/m²), and the Basque Country (€16.62 p/m²). They are followed by the Canary Islands (€14.45 p/m²), the Valencian Community (€12.93 p/m²), Navarre (€12.71 p/m²), Cantabria (€12.07 p/m²), Andalusia (€11.39 p/m²), Asturias (€10.88 p/m²), Aragon (€10.70 p/m²), Galicia (€9.73 p/m²), the Region of Murcia (€9.54 p/m²), La Rioja (€9.54 p/m²), Castile and León (€9.21 p/m²), Castile-La Mancha (€7.62 p/m²), and Extremadura (€6.97 p/m²).
Provinces
In all 47 provinces, the year-on-year rental price increased in February. Increases of more than 10% occurred in 22 (47%) provinces.
The provinces with year-on-year increases greater than 10% are: Huesca (19.8%), Lugo (18.8%), Palencia (15.1%), Cuenca (14.7%), Madrid (14.6%), Toledo (13.9%), Asturias (13.8%), Zaragoza (13.8%), Murcia (13.6%), Las Palmas (13.3%), Cádiz (12.9%), La Rioja (12.6%), Bizkaia (12.4%), Navarra (12.4%), Barcelona (12.1%), Lleida (12.1%), Seville (11.7%), Valencia (11.6%), Castellón (11.0%), Albacete (10.7%), Santa Cruz de Tenerife (10.7%), and Jaén (10.3%).
The six most expensive provinces per month are Madrid at (€20.96 p/m²), Barcelona at (€20.58 p/m²), Gipuzkoa at (€18.47 p/m²), the Balearic Islands at (€18.34 p/m²), Bizkaia at (€16.28 p/m²), and Málaga at (€15.43 p/m²). The three most affordable provinces to rent a home are Jaén at (€6.11 p/m²), Ciudad Real at (€6.52 p/m²), and Badajoz at (€6.85 p/m²).
