On average, more than 90 people compete in Palma to rent a room in a shared apartment, according to a study by the real estate platform. Idealisticin which the capital of the Balearic Islands stands out as the most demanded market (91 people) followed by San Sebastian (65 people) during the second quarter of this year.
According to the same data, Malaga (47 people) and Vitoria (43 people) follow, the only ones with a skill level above 40. Then come Bilbao (39 people), Girona (37 people), La Coruña (34 people), Tarragona (31 people), Barcelona (31 people), Cádiz (25 people), Valencia (25 people), Las Palmas de Gran Canaria (25 people) and Santa Cruz de Tenerife (24 people).
As for Madrid, demand is in line with the national average, with 23 people interested in each ad. At the opposite end of the spectrum, where fewer people have to compete for each room placed on the market, are the cities of Melilla and Castellón, with only 5 contacts for each advert.
The list of capitals where the intensity of castings to find a room is lower is completed by Córdoba (6 people), Logroño (7 people), Cuenca (8 people) and Albacete (9 people).
The report concludes that “the difficulty of accessing housing for rent has pushed many people to choose to rent rooms, which has made the number of contacts each room receives to be 23 interested people for each room.
This figure is lower than that of full accommodations, thanks to the fact that the supply of available rooms increased by 29% last year.
Renting a house in Palma costs an average of 17.66 euros per meter square, which means 50% more than the average price in Spain and places the city as the fourth most expensive provincial capital, according to the real estate portal apartments.com.
Barcelona is the most expensive provincial capital to rent accommodation, with an average of 27.96 euros per square meter, 23% more than Madrid (€22.67/m²) and 138% above state averagewhich stood at 11.73 euros per meter at the end of the first half.
According to this data, San Sebastian is the third most expensive provincial capital (€18.57/m²), Palma the fourth (€17.66/m²) and Valencia the fifth (€16.30/m²).
On the contrary, Ciudad Real is the cheapest at 6.50 euros per meter square, almost 77% less than Barcelona, followed by Jaén (€6.62/m²), Ourense (€7.40/m²), Lugo (€7.50/m²) and León (€7.52/m²). m²).
In the first six months of the year, Segovia (14.69%) had the highest half-yearly increases, while Ciudad Real (-6.47%) was the capital that devalued the most during this period, and compared to June 2023, Valencia (26.02%) led the increases and Lugo (-3.75%) was the only capital that fell.
By communities, The most expensive to rent are the Balearic Islands (€17.57/m²), Madrid (€17.04/m²). Catalonia (€13.51/m²)the Canary Islands (€12.78/m²) and Cantabria (€10/m²), while the cheapest rentals are in La Rioja (€4.38/m²), Castilla y León (€5/m²), Extremadura (€5.26/m²), Galicia (€5.89/m²) and Asturias (€5.90/m²).
Behind this panorama lies the fact that in the Balearic Islands, the supply in the real estate market is very limited, while demand continues to increase. This leads to an increase in real estate prices and the archipelago is positioned as one of the most expensive areas in Spain to rent an apartment, compared to the rest of the autonomous communities.
The square meter in the Balearic Islands is around 19.9 euros, an increase of 21.5% compared to June 2023. This is the highest figure recorded so far and well above the national average, which stands at 13.4 euros. This, added to the increase in the number of tourist apartments in the points most in demand by visitors, complicates access to affordable housing for residents of the islands.
