The month of May has closed with a year-on-year rise in the price of rent in the Balearic Islands of three percent and is set at 19.7 euros per square meter, according to the latest price report published by Idealista. The archipelago is below the national average in terms of the increase compared to 2024, but is placed next to Madrid as the autonomous community with the most expensive rental price. In the last three months the price has grown by 9 percent while in the last month the increase was 3.2 percent.
The report of the real estate portal includes figures for two municipalities of the island, Santa Eulària y Sant Antoni . Regarding the first locality, the price per square meter is at 26.2 percent, which represents a quarterly variation of 11.8 percent and 4.8 percent compared to the same period in 2024.
In the national territorythe year-on-year increase was 9 percent and the price per square meter rose to 14.5 euros. This figure represents the historical record for rents in Spain. In the last three months the price has grown by 3.9 percent, while in the last month the increase was 1.7 percent.
Up to 49 spanish capitals have higher prices compared to May last year, with the only exceptions being Girona, where rents have fallen by 2 percent over the last year, and Cuenca (-1.8 percent). The most pronounced increase is that of Zamora where landlords’ expectations rose by 15.2 percent, followed by rises in Avila (14.9 percent), Castellon de la Plana (14.6 percent), Santa Cruz de Tenerife (14.3 percent), Leon (12.8 percent) and Ciudad Real (12.3 percent). In contrast, Huesca (1.3 percent), is the capital with the least pronounced increase in the last year, followed by Huelva (3.3 percent), Lleida (3.6 percent) and Jaén (4.1 percent). Due to abnormal changes in the sample, it was not possible to extract data from Segovia.
The behavior of rents in the country’s main markets has been completely bullish, with rents rising in Madrid (11.7 percent), Valencia (10.9 percent), Barcelona (10.6 percent), Malaga (10.2 percent), Palma (10 percent), Alicante (8.6 percent), Seville (8.1 percent), San Sebastian (7.2 percent) and Bilbao (5.3 percent)
Barcelona continues to be the capital with the most expensive rents with a price of 23.9 euros per square meter, followed by Madrid (21.7 euros per square meter) and San Sebastian (18.5 euros per square meter). They are followed by Palma (17.8 euros per square meter), Valencia (15.7 euros per square meter), Malaga (15.6 euros per square meter) and Bilbao (15 euros per square meter).
On the contrary, Ciudad Real (7.4 euros per square meter) and Zamora (7.5 euros per square meter) are the capitals with the cheapest rent.
The rental price rises in 49 Spanish provinces in the last year, with the only exception of Lleida (-1.9 percent). The largest increases have been experienced in Segovia (21.7 percent), Zamora (16.7 percent), Avila (15.1 percent) and Teruel (14.7 percent). On the other hand, Huelva (1.9 percent), Girona (2.1 percent), Pontevedra (2.4 percent) and Navarra (2.7 percent) are the provinces with the lowest increases.
Barcelona (20.6 euros per square meter) is the most expensive province to rent a home in Spain, surpassing Madrid (19.8 euros per square meter), Baleares (19.7 euros per square meter) and Guipúzcoa (16.8 euros per square meter). They are followed by Malaga (16.3 euros per square meter), Las Palmas (15 euros per square meter) and Santa Cruz de Tenerife (14.8 euros per square meter). Jaén (6.4 euros per square meter), Ciudad Real (6.7 euros per square meter) and Zamora (7 euros per square meter), on the other hand, are the cheapest provinces.
Autonomous Communities
Rents have risen in all Spanish regions since May last year. The Community of Madrid leads the increases (12.4 percent) followed by La Rioja (11.5 percent), Catalonia (11.4 percent), Castilla-La Mancha (11.3 percent), Andalusia (11.1 percent), Comunitat Valenciana (10.9 percent), Aragon (10.9 percent), Castilla y Leon (10.5 percent) and Asturias (10 percent). Below the national average were the increases in Región de Murcia (8.5%), Extremadura (8%), Galicia (7.1%), Euskadi (7%), Canarias (6.5%), Cantabria (5.8%), Baleares (3%) and Navarra (2.7%)
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The Community of Madrid (19.8 euros per square meter) and the Balearic Islands (19.7 euros per square meter) are the regions with the most expensive price. They are followed by Catalonia (19.1 euros per square meter), the Canary Islands (14.9 euros per square meter) and the Basque Country (14.8 euros per square meter). On the opposite side of the table we find Extremadura (7.1 euros per square meter) and Castilla-La Mancha (euros per square meter), which are the cheapest communities.
For the full article, please visit Diario de Ibiza website here.