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Room rentals in Malaga city have now reached 400 euros
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Room rentals in Malaga city have now reached 400 euros

The price rise has hit demand, which has fallen by 8% in the last year compared to a 52% increase in supply, as per figures from Idealista

Cristina Vallejo

Wednesday, 15 May 2024, 21:03

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Renting a room in a shared flat in Malaga city now costs 400 euros per month, according to data from the property portal Idealista. This figure matches the Spanish average, although very few provincial capitals are more expensive when renting a room. Those few are Barcelona, where it costs 550 euros, followed by Madrid at around 525 euros. In Palma city on Mallorca and San Sebastián, renting a room in a shared flat costs 440 and 410 euros per month respectively. Along with Malaga city, rooms also cost 400 euros on average in Bilbao, Girona, Santa Cruz de Tenerife, Valencia and Vitoria.

In the last twelve months, the cost of renting a room in Malaga has risen by 7%. This is a rise that exceeds the Spanish average, currently at 3%, but it is much lower than the price hike of over 30% recorded in Ciudad Real, or the 20%-plus rises in A Coruña, Albacete, Cáceres, Pontevedra and Zamora. Note, however, that in all these cities room rental prices do not reach 300 euros per month. For the cheapest provincial capitals in the country for renting a room, you need to go to Palencia (205 euros), then Jaén (210 euros), followed by Cáceres, Badajoz and Zamora, with prices at 215 to 220 euros per month.

52% increase in the supply of rooms for rent in Malaga.

This contrasts with an 8% drop in the number of people responding to each advert.

Turning to what is specifically happening in Malaga, according to data from Idealista, the demand for rooms for rent is now flagging. The number of interested parties per advertised room has fallen by 8% in the last year. And this phenomenon coincides with an increase in the available supply, which has risen by 52% in Malaga city.

This is a situation that is also happening in other provincial capitals with high prices. Take Barcelona as a prime example, where demand has fallen by around 30%, while the available supply has risen by 50%. Or in Valencia, where the number of rooms for rent has practically doubled, compared to a 30% drop in the number of people interested in renting them. In Madrid, however, both supply (up 21% in the last year) and demand have increased (the interest in each advert has grown further by 31%).

In the country as a whole, supply has risen by an average of 43%, while demand, measured in terms of people interested in each room, has contracted by 1% over the last year. In any case, according to sources at Idealista, the impact of the significant rise in supply has been limited by a demand that has continued, in general terms, to grow in parallel, thus allowing prices to continue to rise.

The averages, both in the price of rooms in Spain as a whole and in the rate at which they are becoming more expensive, are skewed by the unequal distribution of supply throughout the country. Thus, according to figures from Idealista, more than 60% of the rooms for rent are located in the cities of Madrid (31% of the total); Barcelona (20%); and Valencia (10%). Meanwhile, the sum of the thirty provincial capitals in which the fewest rooms are available would only account for 7% of the total available stock.

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