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Rental prices continue rising in Spanish cities led by Valencia

Rental asking prices are highest in Barcelona, but rose the most in Valencia over the last year, according to the latest data from the property portal Idealista.

Rental asking price rose by 15pc to 20.3 €/sqm/month in Barcelona in November, the most expensive city in Spain in terms of average rental asking prices in €/sqm per month. Barcelona was followed by Madrid on 17.7 €/sqm/m, Marbella on 16.2 €/sqm/m, and Palma on 15.1 €/sqm/m.

In terms of annualised change, asking price rose the most in Valencia (+21pc), followed by Palma (+19pc) and Alicante (+16pc). Prices rose by a more modest 15pc in Barcelona, where growth has been slowing down all year, and 12pc in Madrid.

Rental asking price growth has also been slowing down in Marbella and Malaga this year, but has been stable or increasing in most other cities, helping to make housing costs a hot political potato. Fast rising rental rates in most Spanish cities in the wake of the pandemic are making voters disgruntled.

You can research rental asking prices in a selection of Spanish cities of interest to foreign investors in the Data Hub here.

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