{
  "id": 15263855,
  "title": "Radiografía del alquiler: así están los precios por capitales",
  "url": "https://urgent.news/2026/10/17/radiografia-del-alquiler-asi-estan-los-precios-por-capitales",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-17T18:44:43.000Z",
  "source": {
    "name": "Expansion ES",
    "slug": "expansion-es",
    "url": "https://www.expansion.com/inmobiliario/mercado-inmobiliario/2026/10/17/radiografia-alquiler-asi-estan-precios-capitales.html"
  },
  "original_language": "es",
  "account": "The rental market in Spain has come under scrutiny after decretos de vivienda were approved by the government. These measures aim to curb rental increases, extend contracts, and limit rent hikes. However, it remains unclear how the new legislation will impact the market. The rental price closed the third quarter with an interannual increase of 3%, according to Fotocasa data. This trend continues the moderation initiated in the second quarter, where the rise was 2.9%, and is far from the higher rates like 9.1% seen in the first three months of the year. Rental prices began to decelerate in 2026 after several years of extraordinary price increases. The concern is that this truce in prices could be limited if the available supply continues to shrink. Any measure that increases uncertainty among landlords, causing some to withdraw their property or tighten entry requirements, or shift to other modalities, could again put pressure on prices, explains María Matos, director of studies at Fotocasa. It is still too early to assess the real impact of the new measures on prices. However, the Federación de Agencias Inmobiliarias had already warned this week of a decline in available rental properties. According to their calculations, 4,235 dwellings had left the rental market in just ten days, and 1,523 applications were blocked due to the legal insecurity generated by the decrees. Added to this is the second factor, which is the rising cost of mortgages. The euribor for 12 months, which determines the monthly cost of variable-rate mortgages and the price of new loans for home purchases, is at 3.216% on average so far in October. This rate is well above the 2.187% a year ago. Moreover, markets anticipate at least three more interest rate hikes beyond the two already carried out this year by the European Central Bank. Currently, the cost of money is at 2.5%, after the last increase by the institution on September 10th. This tightening of financing will also have effects on the rental market. When a portion of households loses the ability to afford home purchase, they remain longer in rental, increasing demand even more. Therefore, if the reduction in rental supply coincides with an increase in demand from property purchase, there is a clear risk that prices could rise again. Additionally, it must be noted that, while rent growth moderated in the third quarter, the price remains very close to its peak reached in June (14.79/m2 per month). Currently, renting an 80 m2 apartment costs an average of 1,128 euros per month in Spain. We are facing a blocked market that, far from recovering supply, continues to reduce its size and is unable to respond to a very high demand. The rental market has reached a critical point where many households have touched the ceiling of their affordability, and the scarcity of available housing has turned access to rental housing into an increasingly unattainable challenge for a growing part of the population, adds Matos. Despite general moderation, an evolution at different speeds can be observed when analyzing prices by cities. Rents rose in the third quarter in most cities, but there are very hot zones (with double-digit increases) compared to others that are already adjusting. In this context, seven cities registered increases above 10%. The top spot is held by Palencia with a 21.4% increase. It is a small market that is very sensitive to any change. For example, demand rose among students in Palencia this semester due to the introduction of biotechnology and nursing degrees at the Campus of the University of Valladolid. Other notable increases were seen in Tarragona (21.2%), Valencia (16.4%), Huelva (12.9%), Segovia (12.2%), Santander (12.1%), and Zaragoza (10.8%). In these enclaves, the imbalance between supply and demand remains very pronounced, and prices continue to show intense rises. On the other hand, in the two main markets, Madrid and Barcelona, the escalation of rents has slowed down in the last year. Rent in Spain's capital rose by only 0.1% interannually in the third quarter, while in Barcelona, it decreased by 0.7%. These figures show that both cities are at a similar stage of price stabilization. They are especially mature markets in this cycle because they have been at their peaks for years and are the most expensive capitals. The parallel trend in different cities contradicts the effectiveness of restrictive measures, such as the rental caps introduced by the Housing Law in Barcelona but not in Madrid. With two different frameworks, both capitals continue on parallel trends in the new supply entering the market. According to Matos, the moderation in prices is not related to the regulation. Powerful market factors, such as the extraordinarily high rents already reached and households' affordability limits, explain the evolution of prices.",
  "summary": "Los decretos de vivienda aprobados por el Gobierno han puesto el alquiler en el punto de mira. La mayor parte de las medidas buscan intervenir este segmento, limitando las subidas de la renta y prorrogando los contratos, en otros aspectos. Leer",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}