The price of rental housing has risen by 1.8% in its monthly variation in the Valencian Community and 10.3% in its interannual variation, reaching €12.15/m2 per month in April, according to data from the Fotocasa Real Estate Index.
The Valencian Community has experienced the ninth most intense year-on-year increase in Spain in a month in which all communities increased their year-on-year price in April. In ten communities the double digits are exceeded and they are: Asturias (16.5%), Castilla-La Mancha (13.1%), the Canary Islands (12.1%), the Region of Murcia (11.8%), the Balearic Islands ( 11.8%), Madrid (11.7%), Cantabria (10.7%), Galicia (10.5%), Valencian Community (10.3%) and the Basque Country (10.1%).
In the three Valencian provinces, the year-on-year price of rental housing increased in April 2024: Valencia has registered an increase of 13.4%, Castellón of 10.1% and Alicante of 8.0%.
Valencia is the most expensive with €13.42/m2 per month, followed by Alicante with €11.31/m2 per month and Castellón with €8.42/m2 per month. The year-on-year rental price increases in five of the eleven cities with year-on-year variation analyzed by Fotocasa. There are five cities with double-digit year-on-year increases: Gandia (23.4%), El Campello (20.9%), Sagunt (14.6%), València (11.4%) and Elx (10.3%) .
The three most expensive cities to rent a home are Benidorm with €17.05/m2 per month, Valencia capital with €14.56/m2 per month and El Campello with €14.12/m2 per month.
In six of the 18 capital cities analyzed by Fotocasa, the maximum rental prices per square meter per month were exceeded in April. The cities that have hit the ceiling are: El Campello with €14.12/m2 per month, Gandía with €12.62/m2 per month, Torrevieja with €11.51/m2 per month, Sagunt with €9.10/m2 per month, Castelló de la Plana with €8.24/m2 per month and Vila-real with €7.76/m2 per month.
According to the Director of Studies and spokesperson for Fotocasa, María Matos, “the price of rent continues to rise strongly and at a very significant rate of increase despite the measures approved in the housing law that is about to complete one year in force. ”.
“The rental market is suffering from a great supply crisis and insecurity, which is pushing the price upwards. Currently, 11 of the 17 autonomous communities set a price record, and the average cost of a rental is close to 1,000 in Spain. The increases of even double digits in several provincial capitals show that rent is going through one of its worst moments for the accessibility of tenants,” he commented.
