The Rental Market a Year After the Outbreak of the Pandemic

Rental prices are continuing to fall, with a decrease of almost 9% in the last three months alone, according to Brainsre. Nevertheless, the amount of time it takes to find a tenant has increased by 40% since the Covid crisis began.

Rental housing in Spain has suffered the direct impact of Covid-19. The mobility restrictions, together with the huge number of tourist apartments that have been converted into traditional rental properties due to the lack of visitors, have resulted in a significant decrease in prices.

Proof of this is the fall in average rents in Spain, which at the end of 2020 decreased for the third consecutive quarter, to reach €993.3/month, representing a drop of 8.5% compared to the first quarter of the year and of 1% compared to the third quarter, according to data from the real estate big data platform Brainsre. However, the price per square metre amounted to 10.2 euros per square metre per month in the last quarter of 2020 and so remained stable compared to the previous quarter.

Read the full article in Spanish.