Spain rental prices average 1,131 euros for 80m² homes

Rental prices in Spain have seen a slight year-on-year decrease of 1.6% as of July, bringing the national average for an 80-square-meter home to 1,131 euros per month. Despite this cooling, the market remains at historically high levels, with an average cost of 14.14 euros per square meter.

Regional disparities are significant. Madrid is the most expensive region, with an average monthly rent of 1,542 euros (19.27 euros per square meter), followed by the Balearic Islands at 1,526 euros and Catalonia at 1,366 euros. In contrast, Extremadura remains the most affordable region, with an average rent of 630 euros for an 80-square-meter property.

María Matos, spokesperson for Fotocasa, noted that while there is a normalization process occurring after years of sharp increases, prices remain well above the financial capacity of many households. In specific areas like La Orotava, rental costs have risen by 67.9% since 2019, consuming up to 42% of average household income.