The Balearics is the region where renting a room has risen the most in a year, with 21.5%, above the next most expensive regions, which are the Basque Country (16.9%) and Asturias (14.7%); and it is also the second most expensive region, only below the 611 euros/month of Catalonia, but above the 552 euros of Madrid. The Director of Studies and spokesperson for Fotocasa, María Matos, explained that “the price of shared housing has risen very significantly over the years” and the most remarkable thing is the speed at which it is increasing, as the average price of a room in Spain is almost 500 euros”.
Matos explains that “the main reason for such a large increase is the existing imbalance between housing supply and demand, which is causing prices to rise. “As the OECD data show, Spain is progressively increasing its level of education and there are more and more young university students looking for housing in the big cities,” adds the director of research at Fotocasa.
She also states that “the high prices of a full house for rent, exceeding 1,000 euros on average, forces tenants to look for shared housing in order to be able to afford the costs involved, which is why demand keeps prices on the rise”. Another study by pisos.com has been published today with monthly data that concludes that the most expensive regions to live in for rent in August 2024 were the Balearics (18.41 €/m²), Madrid (17.58 €/m²) and Catalonia (13.55 €/m²). In the last month, the most striking increase has also been in the Balearics, with a rise of 2.5%.
