The supply of rental house in Spain has experienced a notable rebound in 2024, with new data revealing a 15.6% increase since April, according to a recent study conducted by UVE Valuations. In August this year, a total of 68,709 homes were listed for rent across the country—a figure reminiscent of pre-pandemic levels last seen in April 2020 before the COVID-19 crisis disrupted the real estate sector.
Strong Price Growth Fuels Rental Listings
This upward trend in rental house supply has been largely attributed to significant price growth, which has motivated property owners to bring their homes to the market. Idealista, Spain’s leading real estate portal, provided the data for the analysis, highlighting that, after years of cyclical ups and downs, the rental market has nearly recovered to its position prior to the pandemic.
Since 2022, the Spanish rental market has exhibited cyclical behavior. Traditionally, rental listings peak in summer and drop in autumn. The 2020 confinement boosted supply due to the conversion of tourist rentals into long-term lets, but supply reached a historic low in March 2024 with just 51,036 available ads.
Market Concentration in Major Urban Areas
The study further indicates a significant concentration of rental housing offers in Spain’s largest cities. Ten provinces comprise 66.48% of all rental listings, a clear sign of market centralization. The provinces of Madrid and Barcelona alone account for nearly 28% of the national supply, though Madrid’s lead continues to grow.
Since April 2024, Madrid’s rental offers have surged by 30.14%, boasting 12,249 ads in August 2025. In contrast, Barcelona saw a more modest increase of 6.62%, with just 6,776 listings. This marks a growing supply gap between the two cities: where Barcelona’s supply used to be 90% of Madrid’s in April 2020, it now stands at only 55.3%.
At the city level, the divergence is starker. In August 2025, Barcelona’s rental house supply is just 49.2% of Madrid’s. Five years earlier, Barcelona had reached 79.3% of Madrid’s figures.
Key Province Trends: Valencia, Malaga, and Alicante
Valencia has followed Madrid’s upward trajectory, with a remarkable 28.25% growth in rental supply since April 2024 and moderate price increases compared to the national average.
Contrastingly, Malaga experienced a 5.04% decline in supply over the same period, although this follows a substantial recovery since its lowest point in May 2022. The city remains a stressed rental market, influenced by tourism and foreign demand, with prices continuing to rise.
Alicante mirrors the national trend, with supply rising by 6.79% and prices climbing steadily, underscoring its status as an indicator of average market behavior for rental houses in Spain.
Relative Importance of Madrid and Barcelona
Although both Madrid and Barcelona now have 0.61% of their total housing stock available for rent, the national average is only 0.25%. This underscores the prominence of these markets within Spain’s rental sector.
Rent Prices Continue Upward, Regulations Show Modest Effect
Idealista’s price data demonstrate robust growth. Madrid recorded a 16.84% rise since April 2024, with rents reaching €22.2/m² by August. In Barcelona, prices increased by 9.22% to €23.11/m². Regulatory measures are believed to have moderated price escalation in Barcelona, but may have also dampened new rental supply.
The Spanish rental house market is showing a robust recovery, with significant increases in supply and sustained price growth, particularly in Madrid and other major cities. While regulatory actions are tempering price growth in Barcelona, market dynamics remain active and highly concentrated in urban centers. For tenants and investors alike, 2025 is shaping up as a pivotal year for Spain’s rental housing sector.
