The Covid crisis has altered the scenario in Spain’s residential rental market.
In the first quarter of 2021, the supply of flats for rent increased by more than 50% in Spain compared to the previous year, while demand has fallen considerably.
The change has put a brake on rental prices, which in the most liquid markets has resulted in serious corrections, sometimes exceeding 10%, according to a report prepared by Brainsre.
The supply of flats in the rental market rose by 53%, while the supply of houses fell by 12% between January and March 2021. The increase stems from the inclusion of tourist flats in the traditional market. At the same time, “the supply of houses has fallen due to the increased search for this type of housing after the lockdown,” Fernando Acuña, author of the report, explained.
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