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Rental Prices Rose by 8.4% in April, although Downward Renegotiations are now Beginning

Rental prices fell by 0.7% in April compared to March and rose by 8.4% year-on-year. Madrid was the most expensive provincial capital, with an average rental cost of €1,930/per month, according to pisos.com.

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Source: pisos.com

The average price of rental housing in Spain stood at €995 per month in April, which represents a decrease of 0.7% compared to March and an increase of 8.4% in interannual terms. That is according to the monthly rental price report prepared by pisos.com, which reveals that rental homes had an average surface area of ​​121 square metres in April.

The exceptional situation in Spain due to the health crisis also had an effect on the rental market. Ferran Font, Head of Research at piso.com, affirms that “the increase in rental prices was already beginning to cool down in those cities with the greatest pressure, but the arrival of the pandemic is encouraging that deceleration to happen faster”.

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