Renters in Spain could pay €217 more a year as flight boom continues

Rising rents could add up to €217 per year for renters in Spain's most tourist-dependent regions, according to a study published in June by Transport & Environment and the New Economics Foundation. The projected increase is largely driven by a projected 11.8 percent rise in air tourism arrivals between 2026 and 2031. This estimated €217 increase works out to about €18 per month.

The model projects an additional €648 million in annual rent costs across Spain. However, the regional impact varies significantly, with the Balearic Islands experiencing a 9.2 foreign visitor ratio per resident, the eighth-highest in Europe. Barcelona's El Prat airport is set to undergo a €3.2 billion expansion, increasing its annual capacity from 55 million to 80 million passengers by 2033.

While the airport operator Aena defends the investments as beneficial for business connectivity, economists like Alex Chapman argue the expansions primarily benefit tourism and large hotel groups. Chapman also expresses doubt about the positive economic impact, estimating the rise in property prices could cost Spain around €1 billion annually in lost investment.