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San Sebastian e Iruñea, the capital cities that have increased the rents in the last 12 years

  • Idealista.com has published a note on rental prices in the Spanish State. In recent years, the two capitals of the Basque Country have recorded the highest price rises in the Spanish State: San Sebastián and Pamplona.

06 November 2019 - 13:38

The data take as a reference the evolution of prices over 12 years, from the beginning of the crisis, the third quarter of 2007 to the present day. During this period, in Donostia-San Sebastián the rent increased by more than 50%. In addition, Gipuzkoan capital is the third city with the most expensive rental in the Spanish state, only exceeded by Madrid and Barcelona. According to the idealist, the average price per square metre is EUR 14.5, while in Madrid and Barcelona the square meter is above EUR 16.

In the case of Pamplona/Iruña, rentals have increased significantly over the last five years. The idealist compares his case with that of Granada, relating this practice with its status as a university city. Despite this, the rental price is much lower than in Donostia-San Sebastián, where the square meter is 9.2 euros. In total, at the end of 2019, the prices of rental homes in Pamplona have risen by 38.5% compared to the beginning of 2018. According to the portal, there are possibilities to continue to rise next year.

Rental prices did not drop in the toughest years of the crisis (only 5.7%), and in the latter they increased by 29.4%, according to the web in a statement. Moreover, the proliferation of tourist housing has further reduced the supply of rented housing, which has had an impact on prices – fewer households on the market, more possibilities to increase prices if control measures are not put in place.

On the other hand, the projections made by the portal point to a possible drop in prices in 2020. According to its analysts, the rental has already hit the roof.


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