Madrid, Barcelona, Milan, Rome, Porto, Lisbon and Athens together have more than 185,000 new homes for rent on their main real estate portals.
The Government's decision to suspend all non-essential activity caused building work to grind to a halt on more than 130,000 homes, including almost 27,000 in Madrid.
Most-Read B-Exclusives: The Gap Between Buying and Renting a Home Doubles to 5 Years
The significant growth in residential rental prices in Spain is triggering a rise in the effort rates compared to buying, which now exceed 45% in Barcelona and reach almost 42% in Madrid.
Property Developers Reduce New Build House Prices in Barcelona but Resist in Madrid
The average price of new-build homes fell to 5,833 euros per square metre in Barcelona in the third quarter, which represents the biggest decrease for five years.