Rental prices across Spain rose by 10.9% year-on-year in October, reaching an average of €14.5 per square metre, according to the latest data from property portal Idealista.
While the annual increase is sharp, the report also shows a slight 0.1% monthly rise and a 0.7% decline over the last quarter, suggesting a possible stabilisation in some markets.
Barcelona remains the most expensive rental city at €24.3/m2, followed by Madrid (€23/m2) and now Palma de Mallorca (€18.2/m2), which has edged ahead of San Sebastián (€18.1/m2).
Other high-cost capitals include:
- Valencia – €15.5/m2
- Málaga – €15.4/m2
- Bilbao – €15.0/m2
At the other end of the spectrum, Ciudad Real, Lugo, Zamora and Caceres remain the most affordable, all averaging €7.8/m2.
Where are prices rising fastest?
Out of 52 Spanish provincial capitals, 51 saw rental increases over the past year. The only city where rents fell was Huesca, down 1.7%.
The biggest jumps in rents were recorded in:
- Ceuta: +21.9%
- Zamora: +18.1%
- Ciudad Real: +15.1%
- Teruel: +13.4%
- Segovia: +13.2%
In contrast, some of the smallest increases were seen in:
- Pamplona: +0.5%
- San Sebastián & Girona: +1.2%
- Vitoria: +2.7%
Major cities still seeing growth
Spain’s key metropolitan areas remain in an upward trend:
- Madrid: +11.5%
- Sevilla: +9.7%
- Valencia: +7.6%
- Alicante: +7.4%
- Palma: +6.0%
- Bilbao: +5.6%
- Barcelona: +5.1%
- Malaga: +3.8%
At the regional level
All autonomous communities saw rental increases year-on-year, with Madrid (+12.7%), Andalucía (+11.8%), and Castilla-La Mancha (+11.8%) leading the way. Other notable rises:
- Castilla y León: +9.1%
- Baleares & Comunitat Valenciana: +9.0%
- Aragón: +8.5%
- Canarias: +8.1%
Regions with more moderate increases included:
- Catalonia: +7.1%
- Murcia: +7.9%
- Asturias: +7.4%
- Euskadi (Basque Country): +5.2%
- Galicia: +5.3%
The lowest increases were in Extremadura (+4.0%), Cantabria (+4.5%), and Navarra (+3.0%).
Spain’s most and least expensive provinces
Top 5 most expensive provinces:
- Madrid – €21.1/m2
- Barcelona – €21.0/m2
- Baleares – €19.1/m2
- Guipúzcoa – €16.8/m2
- Málaga – €16.5/m2
Most affordable:
- Jaén – €6.4/m2
- Ciudad Real – €6.9/m2
- Extremadura (region) – €7.2/m2
Idealista’s analysts point to ongoing demand in urban centres, limited supply, and inflationary pressure as key drivers.
However, they also note that price movements are increasingly localised, with cities like Pamplona, Girona, and San Sebastián showing clear signs of cooling.
As always, the report is based on advertised rental prices across Spain, filtered to remove anomalies and outdated listings, and includes all valid property types, from flats to single-family homes
