Barcelona is a very attractive city not only for tourists but also for people who decide to establish their residence in Spain. It is a city that keeps growing and that has become a world reference as one of the best places to live and to do business. If we add its privileged location, close to the sea, and its moderate climate all year round, the result is an increasingly higher demand for housing to rent. And this, of course, has its consequences: when the demand is higher than the supply, the rents rise.
According to Idealist, the average rent in Barcelona has risen 37.2% since May 2015 and the sale price has grown by 25.22%. This, although many people’s concerns, does not seem to have an immediate solution since it is an effect of the supply and demand law that we can see repeated in all the great cities of the world like London, Paris, Rome, Berlin, New York, to name but a few.
Young people prefer to rent a house
To this high demand also responds the fact that renting is the preferred option of the young people who, for the moment, do not feel encouraged to buy a house due to the work instability that many of them suffer. Renting a house not only avoid getting a commitment to a bank, but also, it makes easier to select the area where you want to live. And living, for example, in the center of a cosmopolitan city like Barcelona means getting in touch with people from anywhere in Europe and the world, as well as enjoying all kinds of services to have a high quality of life: transport, community services, libraries, cultural centers, parks, markets and shops of all kinds so that you never lack what you need to live.
Renting, therefore, is no longer a means, but an end for many people. There are those who are decided to live in a rental house all their life. Nevertheless, in spite of the escalation, leasing a house in Spain is still far from the levels of other European countries – where it reaches 50% – although it is approaching the average of the Eurozone – 30% -.
More consequences of the high rental demand in Barcelona
When demand exceeds supply, not only the average rent rise: the competition for renting the best houses in Barcelona also grows and if it used to take days or weeks to rent a house in the city of Barcelona, today the most attractive houses, that is, those that are well located and have a good price and quality, can be rented in a matter of hours. That is why it is important to entrust your rental house to a professional real estate. A real state that knows how to select the best tenant, with the highest guarantees of payment and, above all, that offers peace and security to both the owner and the person who wants to rent the house.
Casc Antic BCN has more than 30 years of experience in the real state business. Our strategy focuses on the specialization in the area of the old town, Poble Sec and Sant Antoni de Barcelona, where we have customer service offices from which we can advise you.
