Rental prices in Malaga province surpass Barcelona to become third highest in Spain

According to the latest price report from property portal Idealista, renting in Malaga province now costs an average of €18.8 per square metre per month. This follows a 1.2 per cent increase over the last month and a 4.4 per cent rise over the past quarter. Year-on-year, prices in the province have grown by 5.2 per cent, remaining slightly below the national average increase of 6.8 per cent.

These figures represent provincial averages and are heavily influenced by high demand across Costa del Sol resort towns. By contrast, price growth in Malaga city appears to have slowed after several years at the forefront of national rent increases. In the last month, the average square-metre price in the city fell by 0.8 per cent, marking a 0.4 per cent decline over the last quarter. Annual growth for the city remains positive, but stands at a moderate 2.5 per cent.

Across Spain as a whole, July closed with a 6.8 per cent year-on-year rise in rental prices, driving the national average to a record high of €15.3 per square metre. That figure represents a 2.7 per cent increase over the past three months and a 0.8 per cent rise compared to June.

Almost all provincial capitals recorded year-on-year increases, with only two exceptions: San Sebastián (-1.8 per cent) and Vitoria (-1.5 per cent). Huesca recorded the largest rise at 14.5 per cent, followed by Soria (14.2 per cent), Huelva (13.8 per cent), Teruel (13 per cent), Melilla (11.8 per cent), Oviedo (11.3 per cent), Zaragoza (11.3 per cent) and Toledo (11 per cent). Conversely, A Coruña (0.3 per cent), Bilbao (1 per cent) and Pamplona (1.3 per cent) saw the smallest annual gains.

Rents rose in virtually all major urban markets: Alicante recorded an 8.6 per cent increase, followed by Palma (5.9 per cent), Madrid (5.8 per cent), Seville (4.7 per cent), Valencia (3.7 per cent), Malaga (2.5 per cent), Barcelona (2 per cent) and Bilbao (1 per cent).

Madrid remains the most expensive provincial capital in which to rent at €23.2 per square metre, followed by Barcelona (€20.1/m²), Palma (€19.2/m²), San Sebastián (€18.6/m²), Málaga (€16.4/m²), Valencia (€16.3/m²) and Bilbao (€15.9/m²).

By contrast, Cáceres (€8.4/m²), alongside Badajoz and Ciudad Real (€8.5/m² each), remain the cheapest provincial capitals for renters.

Rents rose in 48 out of 50 Spanish provinces over the past year, led by Girona with a 19.5 per cent surge.

Rental costs rose in 48 of Spain’s 50 provinces over the past 12 months, led by Girona with a surge of 19.5 per cent. Other significant gains were registered in Toledo (12.2 per cent), Soria (11.2 per cent), Zaragoza (10.9 per cent) and Huesca (10.8 per cent). Only Álava (-2.7 per cent) and Guipúzcoa (-0.9 per cent) closed the month with annual declines. In the Community of Madrid, provincial rents rose by 6.6 per cent.

Following these increases, the Community of Madrid (€21.4/m²) remains the most expensive province in Spain for rental accommodation, followed by the Balearic Islands (€20/m²). Málaga ranks third (€18.8/m²), ahead of Barcelona (€17.1/m²), Guipúzcoa (€16.3/m²), Girona (€15.6/m²) and Santa Cruz de Tenerife (€15.6/m²). Jaén (€7.3/m²) and Ciudad Real (€7.6/m²) remain the cheapest provinces.

At autonomous region level, rents increased across all regions compared to July last year. Aragon led the regional increases with a 10.5 per cent rise, followed by Castilla-La Mancha (10 per cent), Asturias (9.9 per cent), La Rioja (8.4 per cent), Castile and León (8.1 per cent) and the Valencian Community (6.9 per cent).

Growth below the national average was recorded in Madrid (6.6 per cent), the Canary Islands (6.3 per cent), Extremadura (5.8 per cent), Cantabria (5.7 per cent), Andalusia (5.6 per cent), Murcia (5.2 per cent), Catalonia (4.6 per cent), Galicia (3.7 per cent), the Balearic Islands (1.9 per cent), the Basque Country (0.3 per cent) and Navarre (0.1 per cent).