Cost of renting continues to rise in Spain
In the first three months of 2025, Spain has seen positive quarterly increases in rental housing prices. The first quarter will close with a quarterly increase of 2% and a year-over-year increase of 9.6%, according to data from the Fotocasa. These increases, detected in March, bring the average rental cost to €13.55 per square meter per month (€/m² per month).
“Rental prices continue to rise unabated at very rapid rates. In fact, we are experiencing the largest increase in rental prices in recent Spanish history. The causes are clear: demand at historic highs and supply at structural lows, putting upward pressure on the market. The phenomenon is widespread; rents are at record highs and affect all autonomous communities, with average rents now exceeding €1,000 per month nationwide and reaching €1,500 in large cities, tourist areas, and archipelagos. Starting in 2022, prices will rise at a worrying rate, posing a serious obstacle to housing access for 40% of renters,” says María Matos, spokesperson for Fotocasa.
Autonomous Communities
In the Autonomous Communities, this first quarter of 2025 saw 15 quarterly increases and 17 year-on-year increases in the cost of property for rent. In March, six communities exceeded their previous maximum monthly prices: the Canary Islands (€14.47 p/m²), Extremadura (€7.07 p/m²), Galicia (€9.77 p/m²), the Region of Murcia (€9.57 p/m²), the Valencian Community (€13.04 p/m²), and Castile and León (€9.29 p/m²).
The quarterly increases are as follows: Cantabria (10.0%), the Canary Islands (7.2%), Castile-La Mancha (5.0%), Andalusia (4.1%), Extremadura (3.7%), Galicia (3.6%), Aragon (2.7%), the Balearic Islands (2.6%), the Region of Murcia (2.4%), the Valencian Community (2.0%), Catalonia (1.9%), Castile and León (1.8%), Asturias (1.6%), Madrid (1.2%), and Navarre (0.5%). Quarterly declines occurred in the Basque Country (-11%) and La Rioja (-2.5%).
Regarding the price ranking by region, Madrid is priced at €20.86 per square meter per month. This is followed by Catalonia (€18.29 p/m²), the Balearic Islands (€17.91 p/m²), the Basque Country (€16.41 p/m²), the Canary Islands (€14.47 p/m²), the Valencian Community (€13.04 p/m²), Cantabria (€12.49 p/m²), Navarre (€12.04 p/m²), Andalusia (€11.33 p/m²), Asturias (€10.80 p/m²), and Aragon (€10.56 p/m²). Galicia (€9.77 p/m²), the Region of Murcia (€9.57 p/m²), Castilla y León (€9.29 p/m²), La Rioja (€8.95 p/m²), Castilla-La Mancha (€7.62 p/m²), and Extremadura (€7.07 p/m²).
Provinces
In the provinces, this first quarter of 2025 saw 40 quarterly increases and 50 year-on-year increases. The five provinces with the largest quarterly increases are: Teruel (18.1%), Guadalajara (13.2%), Cádiz (10.8%), Cantabria (10.0%), and Huelva (10.0%).
On the other hand, ten Spanish provinces recorded quarterly declines: Zamora (-13.3%), Gipuzkoa (-4.6%), Araba – Álava (-4.3%), Huesca (-4.1%), Cuenca (-3.4%), Soria (-2.5%), La Rioja (-2.5%), León (-1.5%), Bizkaia (-0.4%), and Tarragona (-0.1%).
Regarding the price ranking by province, Barcelona, Madrid, the Balearic Islands, and Gipuzkoa are the autonomous communities that exceed the €17.00 p/m² barrier per month. Regarding the price ranking by province, the price per square meter in Madrid is €20.86. It is followed by the provinces of Barcelona with €20.07 p/m² per month, the Balearic Islands with €17.91 p/m² per month, and Gipuzkoa with €17.56 p/m² per month.
