Tuesday, July 5

Inflation will raise apartment rents of more than 648 euros in Barcelona in 2022

The 6.7% increase in the Consumer Price Index (CPI) in advance of December published this Thursday by the INE will mean an increase in rental prices in Barcelona of the order of 648 euros per year, according to real estate calculations Idealista. In Girona, the increase will be about 600 euros per year; in Lleida, 450 euros per year, and in Tarragona, 550 euros per year.

Barcelona tenants will be the most affected by these increases, only behind those of San Sebastián (Gipuzkoa), whose price will increase by 720 euros per year. The estimate is based on the median price at which two-bedroom flats were rented in December 2020 in all provinces and capitals.

In Spain as a whole, the price increases by 550 euros per year, and the capitals with the least impact will be Ciudad Real, with an additional 280 euros per year, followed by Ávila, Cuenca, Lugo and Ourense, with an increase of 300 euros per year .

The rise in rental prices is a blow for a significant part of the population that must negotiate contracts next year (current rental contracts have a minimum duration of five years). According to the report “Rental experience in 2021 ‘released this Thursday by Fotocasa, seven out of ten tenants (68%) consider that housing prices in the rental market are very expensive. Another 21% consider it to be somewhat expensive. Between them they add up to practically nine out of ten, so a general rise in prices will further fuel that sentiment next year.

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The Fotocasa report indicates that tenants believe that homeownership prices are very high and that they will continue to rise, but, despite everything, up to 44% of them intend to buy a home in the next five years. This percentage —registered before the latest price increases — remains constant over the years. The claim to acquire a home in the short or medium term (up to five years) also has a very marked life cycle component: it is young adult tenants who present much higher percentages than the rest, reaching 52% between the ages of 25 and 34 years and 48% between 35 and 44 years.

But the problem of prices is evident in the fact that the largest group (39%) is those who do not intend to buy in the next five years, but do not rule out doing so later. In fact, there are only 17% of those seeking rental housing that do not have a homeownership among their plans.


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