For the first time, the average price of a rental apartment in Spain, of around 80 square metres, crosses the 1,000 euro barrier. A figure that shows that the increase in rental prices is already tripling the inflation indicator. The situation has led to the development of another offer: that of shared rooms.
According to the main real estate portals in Spain -Fotocasa and Idealista-, in July 2024, tenants paid between 8 and 10% more on averagewell above inflation, which stood at 3%. In terms of rent, this means that renting an 80 square meter apartment already costs more than 1,000 euros per month.
Vicente Martínez, deputy secretary of the Galician Real Estate Association, assures that “the trend in recent years has been a continuous increase”, in addition to “relatively important” being “between 10 and 15%”. Faced with this growing phenomenon, there are other consequences beyond the general rise in prices.
“The high prices that currently exist encourage citizens to are forced to live in shared apartments to spread the expenses and thus face the price of the monthly rent,” explains María Matos, director of studies at Fotocasa, to laSexta.
According to Idealista, the supply of rental apartments increased by 29% the second quarter. An increase in supply that has also failed to stem the rise in prices for shared rooms. In capitals such as Barcelona and Madrid, they are reaching record figures and the average room rental far exceeds 500 euros.
Profitability is the reason why many owners opt for this type of rental, forcing tenants to share an apartment. The spokesperson and director of studies of Pisos.com, Ferrán Font, explains that “gross profitability is usually between 6 and 7% of a long-term rental”, although “it could increase if we leave the traditional rental and move to a room rental”. An upward spiral that, Let’s hope this doesn’t end in a vicious circle.
