SANTIAGO DE COMPOSTELA / MADRID, 27 Sept. (EUROPE PRESS) –
Los rents increased by 8.3% during the past August compared to the same month of 2021, reaching an average of 7.95 euros per square metre, according to data offered this Tuesday of home photo The case of Santiago de Compostela, which grew by 17.2% year-on-year, until the 8.73 euros per square metre.
Average data for the entire Galician community indicate that the rental price last August reached maximum value of the last 16 years, according to the same entity. Galicia (+8.3%) was the seventh autonomous region where rents increased the most in August, behind the Balearic Islands (+17.8%), the Valencian Community (+16%), Cantabria (+15.4%), the Canary Islands (+12.6%), Madrid (+11, 6%) and Castilla y León (+9.2%). Throughout Spain the increase was 3.9%, up to 10.83 euros per square metre.
By provinces, Lugo leads the ranking of the increase in Galicia with 8.1% on an annual basis (6.52 euros per square meter), followed by A Coruña with 7.6% (7.97 euros), of Pontevedra with 5.8% (9.11 euros) e Ourense with 5.7% (6.13 euros). Likewise, in almost all the Galician municipalities analyzed by Fotocasa the price of rental accommodation has increased compared to the previous year. The cities where they have become more expensive They were Santiago, with 17.2%, and the capital Lugo, with 10.9%. If you look at the achieved price, Sanxenxo is the most expensive city in August (18.13 euros per square metre), followed by A Coruña (9.20) and Vigo (8.96). On the opposite side it is naron (5.46).
“A question of seasonality”
The The price of rental homes in Spain fell 3.4% in August compared to the previous month, but increased by 3.9% compared to August 2021, until reaching an average price of 10.83 euros per square meter, according to Fotocasa data. With August data moderating July’s year-on-year rise by more than three points, rental price chains 34 consecutive months above 10 euros per sq m.
The director of studies at Fotocasa, María Matos, explained that the moderation recorded in August in the interannual price growth rate “may be due to aa question of seasonality, as the end of summer coincides with a drop in demand. “If we enlarge the autonomous communities, provinces and municipalities, almost without exception there are significant increases in the price of rent,” says Matos, who adds that in the areas with the highest demand the price increase exceeds double digits, the which indicates that the price “continues to rise”.
In particular, compared to the previous year, the rent increased in all the autonomous communities, reaching more than double figures in the Balearic Islands (+17.8%), Valencian Community (+16%), Cantabria (+15 .4%), the Canary Islands (+12.6%) and Madrid (+11.6%). The regions with the most moderate increases are the Basque Country (+1.7%), Aragon and Andalusia (+3.4% in both cases) and Castilla-La Mancha, where the rent has increased by 4% year-on-year in August.
The most expensive region to rent a house is Madrid, with an average price of 15.44 euros per square metre, followed by Catalonia (14.91 euros), the Balearic Islands (13.93 euros) and the Basque Country (13.64 euros ). , Cantabria (10.97 euros), the Canary Islands (10.87 euros) and Navarre, with 10.40 euros per square metre.
Price increased by more than 10% in 11 provinces
Almost all provinces increased the price of rental housing in August compared to the previous year, with the exception of Guadalajara and Cáceres. Also, up to 11 provinces house rental value increased by more than 10% and only in three of them was the increase less than 1%.
The provinces where the price of rental accommodation increased the most in the interannual rate in August were Girona (+19.3%), Alicante (+19.2%), Malaga (+18.2%), Balearic Islands ( +17.8%), Cantabria (+15.4%) and Valencia (+14.4%). According to data from the real estate portal, the most expensive provinces to rent are Barcelona, with 15.96 euros per square metre; Guipúzcoa (15.62 euros), and Madrid, with 15.44 euros per square metre.
As for the municipalities, Fotocasa highlights that the rental price has increased in the last year in 97% of them, mainly in Gandía (Valencia), where the price has increased by 36.7%. In other municipalities on the Valencian and Andalusian coast the increases are also high, exceeding 30%, such as in Benidorm (+34.6%), Mijas (+34.5%), Torrevieja (+32.9%) and Fuengirola ( +30.5%) .
The only year-on-year decreases in rental accommodation prices correspond to Roquetas de Mar (-0.6%), Mérida (-1.6%) and Sitges (-2.5%). According to Fotocasa, 61 municipalities recorded a price per square meter of more than 10 euros per month, in particular Calvià (19.35 euros), Barcelona capital (19.07 euros), La Moraleja (18.23 euros) and Sanxenxo (18.13 euros per square metre).
At the other extreme, Baeza (Jaén) ranks as the cheapest city for renting a house, with a price per square meter of 4.21 euros per month.
