Rental prices are rising in most Spanish cities, led by Barcelona up almost 66% in the last five years, reports the Spanish press.
Average rental prices in Barcelona have risen from €892/month in 2012, to €1,478 today, up 65.7%.
In Palma de Mallorca, rental prices have gone from €700/month five years ago, to €986/month today, up 40%.
In Madrid, prices have risen 20% from €1,048/month to €1,256/month today.
In the cases of Palma and Barcelona, tourist rental demand is one of the big factors driving up prices for locals. So expect more political opposition and hostile legislation towards holiday rentals.
Rental prices are rising in most of Spain’s cities, with the exception of Santander, capital of the northern region of Cantabria, where prices have fallen 3% in the last five years to €649/month on average.