Room Supply in Spain Surges 43% in Q1 2024

Discover the latest report by idealista on the soaring room supply in Spain, with prices only rising by 3% to €400 per month. Find out which provincial capitals saw the largest increases.

The supply of shared flats has seen a significant increase of 43% year-on-year in the first quarter, with prices only rising by 3% to €400 per month, according to a report by idealista, southern Europe's leading real estate marketplace. The availability of rooms has increased in all provincial capitals except for Palencia, Huesca, Segovia, and Soria. The largest increase in supply was seen in Albacete, Castellón de la Plana, Córdoba, Alicante, and Almería, where the supply more than doubled in just one year.

Following Alicante, Valencia experienced the largest increase in available supply at 96% compared to a year ago, followed by Seville, Malaga, Barcelona, San Sebastian, Palma, Madrid, and Bilbao. Rental prices in the capitals have mostly increased, with only San Sebastian seeing a decrease and Cuenca remaining stable. The largest price increase was in Ciudad Real, followed by A Coruña, Albacete, Pontevedra, Zamora, and Cáceres.

Barcelona has the highest room rent in Spain at an average of €550 per month, followed by Madrid, Palma, and San Sebastian. Palencia and Jaén are the most affordable cities for renting a room, while more than 60% of rooms for rent are located in towns surrounding Madrid, Barcelona, and Valencia.

Despite the increase in supply, demand has also continued to grow in parallel, allowing prices to rise. The number of people interested in each room has remained stable nationally but has increased in 34 capitals, with the largest increase seen in Zamora, Palencia, Ceuta, and Ávila. However, the number of interested individuals has decreased in some cities like Alicante, Valencia, Barcelona, Seville, and Malaga.