Rental demand for rooms in private homes is strong, and the time it takes to find a tenant is down to just 10 days on average, claims the student accommodation portal Uniplaces.
Uniplaces focuses on accommodation for students, who typically look for rooms to rent, but also have other types of clients like families.
“Spanish homeowners these days have little trouble finding tenants because there is plenty of demand from students looking for accommodation, and families who prefer to rent before buying a home,” says Mariano Kostelec, cofounder of Uniplaces – a student accommodation portal – quoted in the Spanish press.
The Spanish cities where demand is strongest, and rooms rent out the fastest, are as follows, according to an analysis of reservations made through the Uniplaces portal:
1. PALMA DE MALLORCA. Once listed for rent at Uniplaces, rooms spend barely a day on the market in Palma de Mallorca, the Capital of the Balearic Islands. Demand for rooms for rent outstrips supply, explains Kostelec. The average cost of renting a room in Palma de Mallorca is 293 €/month according to Uniplaces data.
2. MADRID. Landlords take an average of five days to find a room tenant in the Spanish capital Madrid, reveal Uniplaces. The average cost is 400 €/month, though in 16% of cases this includes utility costs.
3. SEVILLE. It takes six days to find a tenant for a room in the Andalusian capital Seville, where “many students from other parts of Andalusia come to study, so the rental market moves quite quickly,” says Kostelec. The average cost to rent a room in Seville is 272 €/month.
4. BARCELONA. Seven days is the average time it takes to rent out a room in the Catalan capital Barcelona, according to Uniplaces, where demand from foreign students is particularly relevant. The average cost is 380 €/month, although budgets in this case go as high as €450/month.
5. VALENCIA AND GRANADA. In both cases the average time on the market of a room for rent is eight days. The average cost in Valencia is 233 €/month, whilst in Granda (the capital of the eponymous province and home to the Costa Tropical), the average cost to rent a room is 197 €/month.
Uniplaces also reveal that most searches take place on a Tuesday, whilst most reservations are made on a Friday.