Tenants who have their annual lease contract reviewed in February will see their monthly rent increase by an average of 53 euros from now on, according to a study carried out by idealista. This is due to the 7.6% year-on-year rise in the final CPI in the second month of 2022, according to the INE, which is two tenths more than the anticipated data. The median price in Spain for renting a two-bedroom apartment rises to 748 euros/month, which means 634 euros more per year. The tenants who check in San Sebastián, Barcelona, Madrid and Bilbao will be the ones who will notice the increase in their rents the most.
He National Statistics Institute (INE) has published the final data of the Consumer Price Index (CPI) February, which stood at 7.6% in the interannual rate, 1.3 tenths more than the final data for January, 2 tenths above the advance data for February and its highest rate in the last 36 years.
He rising inflation directly affects the housing lease contracts linked to the CPI. For tenants who have their annual review in February, it will mean an average increase in their rents of around 53 euros/month more this year, according to a study by idealist/date taking as a reference a two-bedroom flat-type dwelling in the provinces and capitals analyzed.
He median price in Spain of a rental home of this type closed at 695 euros per month in February 2021, so the rent updated with the latest CPI now stands at 748 euros per monthwhich represents an average increase of about 634 euros per year for these leases.
inflation keeps rising
Despite the fact that the rise in inflation of 7.6% is the same for the entire country, the increase in rental income in contracts renewed in February it will not be the same for all tenants, especially those residing in the provincial capitals.
San Sebastian and Barcelona These are the cities in which the increase in the inflation in leases who have had to update their rents, reaching 65 euros more per month, to leave a median price of 915 euros per month for the next year.
Due to the greater increase, the update of rents continues in Madrid, with an increase of 62 euros more per month, to reach a median rent of 882 euros/month. This is followed by Bilbao, which with the CPI updateit becomes more expensive by 61 euros, and a new monthly payment of 861 euros.
These four capitals will have an annual increase in rents updated in February of between 730 and 775 euros, which is a great effort for many tenants.
Among the smallest price increases of the leasing contracts that have to update their contracts with the CPI for February, in Ciudad Real, Cuenca and Avila they will rise 27 euros, 28 euros and 29 euros more per month, respectively.
He new rental that the inhabitants of these cities have left for the next year does not exceed 400 euros per month, except in Ávila, which, with the update, now remains at 409 euros.
Rents updated in the CPI for February at the provincial level
By provinces, the areas where the main price increases on apartments Two-bedroom apartments that have the rent updated with the CPI for February. This time Guipúzcoa it remains alone at the top, maintaining the same increase as in Donosti, and registers increases of 65 euros more per month to leave a new median income of 915 euros per month, which represents an annual increase of 775 euros.
Behind, the province of Barcelona reduce the pressure of inflation on the renewal of leases compared to the Catalan capital, with a monthly increase of 63 euros, to place an average rent of 888 euros / month Next, Madrid and Biscay They see their 800 euros/month rise in February 2021 with an increase of 61 euros per month, and this increase leaves an average lease in the two regions of 861 euros/month.
Behind these four provinces are provinces such as the Balearic Islands, with 57 euros more per month and a new income of 807 euros per month; Álava, 53 euros more per month and a new income of 753 euros per month; and the duo formed by Valencia and Navarra, both with 49 euros more per month and a new income of 699 euros per month.
