Residential rental prices in Catalonia continue to rise. During the first six months of the year, prices have grown by 6.22% to reach an average of €11.78/m² in a context where inflation has soared by over 10%. According to the latest report from pisos.com, this increase in rent increases even further if we look at how much they have risen since a year ago. Since June 2021 prices in Catalonia have risen by 11.10%, which represents the highest growth throughout the state. However, in the month of May, prices have fallen by -0.08%, while quarterly the increase was of 3.70% in Catalonia. It should be noted that Catalonia is the third community with the most expensive monthly payments in Spain, behind only Madrid (€13.38/m²) and the Balearic Islands (€12.09/m²). Rental housing in Spain had an average price of €10.22/m² in June 2022. This figure marked a monthly decrease of -0.10% and a quarterly increase of 0.17%, a half-yearly increase of 2.40% and a year-on-year increase of 6.13%.
Regarding the four Catalan regions, Barcelona is the second most expensive in the whole state with a price of €12.89/m² while in the last six months, Girona, with an increase of 12.01%, was the second region that grew the most. On the other hand, Tarragona (-2.48%) has been the only one that has lowered prices in the last six months. From one year to the next, all four regions have increased their prices, but Lleida is where they have grown the most, with an increase of 13.82%. All four Catalan capitals grew in the first half of the year, Girona (10.27%) being the third capital with the highest increase in the state. All rose year-on-year too, with Tarragona (14.19%) registering the fifth-largest increase in Spain. Looking at average monthly rents, Barcelona (€17.77/m²) was the most expensive capital in Spain, while Tarragona (€8.21/m²) was the most affordable Catalan capital.
According to Ferran Font, director of research at pisos.com, "rental incomes are demonstrating their strength at a time when access to housing is complicated due to rising inflation". The spokesman for the real estate portal reveals that one of the reasons why being a tenant is more expensive now than a year ago is that "housing for sale has also become more expensive, as well as mortgages, and that delays the plans of many potential buyers, which puts pressure on the rental market". Font points out that "tenant turnover is not renewed, which limits the available supply." In addition, the expert points out that "the longer the economic uncertainty drags on, the more prices will skyrocket."
On the other hand, Font believes that "it is very likely that the limit on rent the government plans to establish within the stressed areas to alleviate the salary effort acts as a deterrent for the owners of these properties, who may withdraw their flat after assessing that it is not worth it to them". Font points out the need to "give greater incentives and strengthen legal certainty to rescue this unproductive housing that is not rented due to lack of stability and fear of a costly and almost endless judicial process".