How has the cost of renting a house in Spain changed in 2023

During the outgoing year 2023, Spain has seen amazing changes in the cost of renting a home, creating a storm of discussion among tourists and locals. Let's take a look at the exciting numbers and dynamics of this phenomenon.

By the end of 2023, the cost of renting a house in Spain has increased by an impressive 10.1%. According to a report by the Idealista portal, in December the average rental price was €12.1 per square meter per month, exceeding the figure for the third quarter by 2.7%.

Spain has witnessed significant changes. Rental prices have risen in 50 cities, with Segovia leading the way with an explosive growth of 24.6%. Valencia and Palma follow at the foot with an increase of 21% and 20.2%, respectively.

Barcelona, where rentals reached an impressive €20.5 per square meter, turned out to be the most expensive capital, followed by Madrid (€17.9) and San Sebastian (€16.8). These figures create an incredible contrast in the cost of housing across the country.

The provinces also found themselves in a whirlwind of change. Rental prices have increased in 49 of the 50 provinces. Segovia stands out again, showing an increase of 21.8%. However, Lleida was the only exception, experiencing a 6.8% drop in prices.

The autonomies of Spain also felt the excitement. In 2023, prices rose in each of the 17 regions, with the Balearic Islands showing the largest increase of 18.3%. Madrid continues to be the leader with rents of €16.2 per square meter per month, while Extremadura, Castile-La Mancha and Murcia remain economical regions for rental housing.

Overall, 2023 has brought significant changes to the cost of renting housing in Spain, covering both capitals and provinces, creating a motley canvas in the country's housing market.