The cost of renting a property long-term in Malaga province increased more than anywhere else in the country between 2015 and 2020, according to a report by Spain's National Institute of Statistics. Rents went up by 13.8 per cent in that period, which was three per cent higher than the national average of 10.9 per cent.
Malaga was at the top of this particular list, but followed quite closely behind by Valencia (13.2%), Barcelona (13%), Guadalajara and Toledo (both at 12%). At the other end of the scale are Zamora, where long-term rents went up 4.9 per cent, León (5.1%) and Melilla (5.1%) during that five-year period.
The study looked at towns with more than 10,000 inhabitants and found that the highest percentage increases in Malaga province in 2020, compared with 2019, were in Alhaurín de la Torre and Alhaurín el Grande, where rents went up by 2.5%.
Rents increased by a similar amount in Cártama and Coín (2.4%) and in Estepona (2%), while in Malaga city they rose by just 0.8 per cent.
The figures for 2020, with the backdrop of the Covid crisis, were very different. For example in Nerja, rents went from an increase of 2.5 per cent to a fall of 2 per cent compared with 2019, and the increase was also very low in Torremolinos ( 5% to 0.4%), Malaga (4.9% to 0.8%), Fuengirola (4% to 1%) and Manilva (4.4% to 0.6%).
The report also shows the increases in rental prices for different types of property and concludes that the biggest increases were applied to the smallest homes, while the smallest rises were seen in properties which were more than 150 square metres in size.