Rental price in Spain fell by 6.7 percent in August
The average rental price of housing in Spain fell in August
The average. It now stands at €10.7 per square metre. According to the latest price report published, the Community of Madrid remained the most expensive place to rent in Spain with an average of €13.8 euros per square metre.
Rents were cheaper in August in six regions compared to the same month in 2020. Catalonia saw a decrease of 8.2 percent, Madrid a decrease of 8.1 percent, the Balearic Islands by -4.7 percent, Andalusia by -1.9 percent, and Valencia by -0.8 percent.
Brits are buying fewer properties than ever in Spain
Demand from British buyers fell by 2.62 percent between April and June compared to the first quarter of 2021, according to data from the College of Registrars, due to a combination of Brexit and the Covid-19 pandemic.
UK buyers accounted for 9.5 percent of foreign property sales in the second trimester of 2021, a decline from the 12.11 percent registered between January and March 2021.
This is well below the number of Brits who bought in 2015, a year that saw the highest number of British investors, who at that time made up 20 percent of foreign buyers.
While Brits still make up the largest group of foreign buyers in Spain at 9.49 percent, they are closely followed by the Germans at 9.04 percent, the Moroccans at 8.32 percent and the French at 7 percent.
The average price for renting a room in a shared flat in Spain at the end of 2020 was €269.49 per month.
Barcelona and Madrid were the most expensive places to rent a room with an average price of €453.91 per month and €426.88 per month respectively.
During the Covid-19 pandemic, however, rental prices have decreased rapidly. A study revealed that between May and November last year, Barcelona saw the sharpest fall in rents with prices per square metre slumping by 13 percent.
According to the Rentger blog by the same property search giants, rental prices continued to fall in the first quarter of 2021 by 1.9 percent.
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