Monday, October 3

Rental prices rise in Catalonia after the annulment of the law that limited them

Rents on the rise in Catalonia in the first quarter without the application of the law that limited them, which was struck down by the Constitutional Court at the beginning of the year. The data from April to June show a growth in prices of 6.6% compared to the same period in 2021, with a special incidence in Barcelona, ​​where the increase exceeds 10% until it again touches the 1,000 euros of average income.

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The Ministry of Housing and Social Inclusion of Catalonia has published this Friday the housing market data for the second quarter of 2022, the first without the law regulating prices in the 60 most stressed municipalities in the community being in force. Since September 2020, this regulation has prevented price increases above the Generalitat index and even forced them to be lowered if they exceeded it. According to the Barcelona Metropolitan Housing Observatory, this law contributed in the Catalan capital to a 3% drop in prices during its validity.

However, in March the Constitutional Court struck down the part of the law that capped prices. Since then, the lessors can return to the price they consider for the flat.

In all of Catalonia, the monthly income this last quarter stood at 759.91 euros, which is in fact the highest figure in the history of the community (until now the peak had been 755.4 euros in the third quarter of 2019). The year-on-year increase is 6.6% – even so, below the 9.1% inflation rate – and 3% compared to the previous quarter.

For its part, in Barcelona the second quarter of the year leaves a rental price of 996.5 euros on average, a rise of up to 10% compared to the same period last year, which also represents an increase of 1.2 points higher to inflation. In some districts, such as Ciutat Vella, with the highest tourist pressure in the city, the price increase is 15%, followed by 13% in Sant Martí and 12% in Montjuïc.

As for the number of contracts signed, the downward trend continues, after a record boom was experienced in the months after the pandemic. Between January and June 2022, the drop was 11.2% compared to the previous year throughout Catalonia. “The years 2021 and 2022 were marked by the pandemic, which caused totally extraordinary dynamics. Even so, if we compare it with the year 2019, before COVID-19, the drop in contracts is still 7.5% ”, they point out from Housing.

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