The city of Barcelona holds the unwanted title of being the most expensive city in Spain for the cost of rent, according to the latest price report from the real estate portal Idealista.
Over the last 12 months, rents in the city have experienced a 12.4% increase, standing at an average of €20.5 per square meter.
This figure places Barcelona above Madrid and San Sebastian, making it the most expensive capital city for those looking for a place to live.
The biggest rise has been recorded in the district of Gràcia, where rental prices have increased by a staggering 18.8%. This increase is followed by Sant Andreu (17.7%), Sants-Montjuïc (15.9%), Nou Barris (15.6%), Horta Guinardó (14%).
Next are Eixample (13.8%), Les Corts and Sant Martí (12.3% in both cases). On the other hand, the smallest increases were in Sarrià-Sant Gervasi (2.1%) and Ciutat Vella (11.1%).
The cost of renting in Barcelona reaches new highs
Ciutat Vella, which includes the Gothic Quarter, characterized by the presence of expatriates and the proliferation of tourist apartments, has the highest prices in the city, reaching 23.8 euros per square meter. It is closely followed by Eixample, with 21.9 euros per square meter.
Other districts that exceed the average are Sant Martí (21.1 euros per square meter), Gràcia (20.6 euros), Sarrià-Sant Gervasi (20.4 euros) and Les Corts (18.8 euros).
Francisco Iñareta, spokesman for Idealista, commented on the situation: “2023 has been a bad year for people looking for a rental home. Supply continues to evaporate with no signs that in 2024 it will increase and prices are at all-time highs this December in most markets.”
Iñareta attributes this situation to the regulatory measures on renting and the approval of the housing law last May.
Rentals throughout the province
In the province of Barcelona as a whole, rental prices have increased by 12.1% during 2023, reaching an average of €17.5 per square meter. In Catalonia, the increase was 9.7% to 16 euros per square meter.
In municipal terms, only Igualada has experienced a drop in prices, with a decrease of 5.8%, while Badalona is the city with the highest increase, with 19.9%.
The upward trend extends nationwide, with an average growth of 10.1% in rental prices, reaching 12.1 euros per month. Barcelona leads this ranking as the most expensive capital city to rent housing, followed by Madrid with 17.9 euros per square meter and Donostia with 16.8 euros per square meter.
Against this backdrop, Barcelona faces a 2024 that could maintain upward pressure on rental prices, as well as low availability of rental housing.
