Barcelona, Madrid Propel Spanish Rental Rates to Record High
- Higher interest rates have made home purchases more expensive
- Rents have increased for 11 straight months with supply tight
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Rents in Spain have jumped to record levels, propelled by gains in the country’s two largest cities as higher interest rates roil property markets across Europe.
January rents in Barcelona soared 25% from a year ago and jumped 12% in Madrid, according to data published Monday by Idealista. Soaring demand has driven rents across Spain to a national average of €11.6 per square meter, the highest since one of the country’s main real estate websites started compiling the data in 2006.