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Rental Prices Fell by 10% in Madrid and Barcelona During the State of Emergency

During the lockdown, residential rental prices in Spain decreased by 4.9% on average, with the large cities recording the greatest falls.

On 14 March, the Spanish Government decreed a State of Emergency in the country, which triggered the unprecedented confinement of the population for weeks on end as a measure to curb the rapid spread of Covid-19. The origin of the health crisis began a period of uncertainty in all economic sectors -including real estate- in the face of an unknown scenario.

Following the start of the “new normal”, we are now beginning to see the first data regarding the impact of coronavirus on the sector. In this sense, during the State of Emergency, there was a 4.9% decrease in the price of residential rental properties in Spain, according to data collected by the real estate big data platform Brains RE.

Read the full article in Spanish.

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