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August 26, 2016

The best areas for renting a property in Spain

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The best areas for renting a property in Spain

In Spain, there are areas where a variety of residential property for rent is necessary, and sometimes it is a very specific type of property in Spain, for example, in a university town, in the suburbs of large cities or on coastal areas, in the tourist areas, etc. However, what are the best and most suitable areas to rent a house or apartment in Spain?

"Comparison of rent against sale" is the name of a new recent study conducted by urbanDataAnalytics based on analytical data, which shows that there are areas where houses and apartments for rent in Spain predominate before the properties that are on sale.

The national data indicate that, as a rule, the city center and its surroundings concentrates the largest number of flats and homes to rent in Spain. In addition, an interactive data analysis across the country shows results on the relation between rent and sold real estate in Spain.

For example, in Madrid – the area of ​​Chamberí (1.82), in Barcelona – La Barceloneta (1.81) and in Valencia – the City of Arts and Sciences (1.76) are one of those places that show the greatest disproportion, i.e. a greater number of rental housing in Spain than which are on sale.

This disproportion between the increase in the volume of residential real estate in Spain for rent also differs in Seville in Huerta del Pilar (1.68), in the center of Santiago de Compostela (2.66) and in the neighborhood of General Dávila in Santander (1.2). These are the areas with the largest number of homes in Spain for rent, with no difference if it is for long term or for short term rentals, or even for holidays.

Other areas where there is a greater volume of real estate for rent in Spain are located in the Basque Country, in Bilbao and in San Sebastian, in the regions of Ribera del Deusto (1.31) and in Ondorreta Park (1.12). With regard to the Spanish islands, in this case, it is remarkable the area of ​​San Antonio in Ibiza (1) and on Tenerife – the zone of La Rambla (1.72).

Therefore, the analysis allows us to draw the following conclusions about the proportion of residential property in Spain for rent. The areas with the greatest presence of rental housing against the properties for sale are located in Madrid, Barcelona, ​​Valencia, Malaga, on the Mediterranean coast and on the islands. These are the areas where houses and apartments in Spain are rented more quickly and, therefore, the number of offers for the rent of residential property is much lower.

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