Housing crisis
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Cristina Vallejo
Malaga
Wednesday, 28 August 2024, 12:48
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One of the key times of the year for renting a room in shared accommodation is about to begin. The start of the university year is approaching and with it comes the frantic search for accommodation by young people leaving the family home to start or continue their studies. So, according to a report published by Spanish property portal Idealista, this year renting a room in Malaga city will be 5% more expensive than in 2023. The average price stands at 400 euros, a rise of 3% year-on-year and a figure that now equals the Spanish average.
In Malaga the demand for rooms has increased by 9% in the second quarter of this year, but supply has grown much more, by 29% to be precise, which has made it possible for the price of rooms to rise only by half that of the rental of complete homes (according to various reports, rents have increased by around 10% in the last twelve months).
In any case, although the cliché of the person looking for a room in a shared flat is that of a university student or a young person taking their first steps in the world of work, this image no longer corresponds to reality. The Idealista study also reveals that the average age of people who share flats in Spain is around 30 years old. Furthermore, if most tenants are indifferent to sharing flats with students or working people, the reality is that there is less supply for the former than for the latter.
565 euros
This is the price of rooms for rent in flat shares in Barcelona, the most expensive provincial city in Spain.
The most expensive rooms in Spain are in Barcelona where they cost 565 euros, having risen by 13% compared to 12 months ago. Worryingly so, as this is despite the fact that demand has fallen by 8% in the last quarter in the city, while supply has increased by 26%.
In Madrid and Palma de Mallorca, the cities that follow Barcelona in the room-rentals ranking, renting a room costs around 500 euros per month. In the Spanish capital rents have risen by 10% in the last 12 months as a result of the 39% increase in demand in the second quarter of this year. In contrast the supply has only increased by 6%. In Palma, meanwhile, the rise in prices has been 25%, largely because the volume of people interested in renting a room has shot up by 46% while the supply of rooms in shared flats has been reduced by 20%.
The other Spanish provincial capital that has surpassed Malaga in the price of rooms in shared flats is San Sebastian, at 450 euros, after a 7% increase. In this city, demand has risen by 42% compared to a mere 9% increase in supply.
The city of Malaga therefore occupies fifth place in the ranking of the most expensive rooms, although it is not alone. The 400 euros are also the cost of sharing a flat in Pamplona, Santa Cruz de Tenerife and Bilbao.
210 euros
Is the cost of renting a room in Jaén, Spain's cheapest city.
As is usual in this type of real estate statistics, the cheapest provincial capital city is Jaén, where flat sharing costs 210 euros. In other cities in 'empty Spain' (where depopulation is rife), the price of a room does not even reach 250 euros, such as in Palencia, Ciudad Real, Zamora and Lugo.
But the most significant increase in price has taken place in Cáceres where, from one year to the next, flat-sharing has become 27% more expensive (up to 260 euros). Similarly, increases of over 20% have also been experienced in Ceuta (up to 375 euros), Badajoz (up to 250 euros), as well as in Lugo (245 euros) and Albacete (up to 290 euros).
The demand for rooms for rent has more than tripled in Ceuta in the last quarter, while in Zamora, Palencia and Teruel it has more than doubled. The number of people interested in sharing a flat has fallen, however, in places such as Castellón de la Plana, Logroño and Alicante.
In terms of supply, it has more than doubled in cities such as Logroño, Castellón, Albacete, Alicante, Granada and Almeria. Supply has been reduced by up to 36% in Soria, Palma and Palencia.
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