If a year ago renting an apartment in Valencia already seemed expensive, know that today it is 19.4% more expensive. On average, because in districts such as Algirós and La Saïdia, the rent payable has increased by over 20%. They are, of course, not the most expensive areas. If the average square meter for rent is 13.4 euros, an absolute record in the history of the city registered in January of this year, in Ciutat Vella it reaches 17 euros per square meter.
The problem is general. There is no Spanish city, at least among the most populated, that is not subject to this real estate inflation, but none comes close to the increase that Valencia has suffered in the last 12 months, according to the data available on the Idealista real estate portal, which publishes them. on a quarterly basis.
Palma de Mallorca is the second Spanish provincial capital where the price has increased the most compared to February 2023, 16%, which represents an increase 3.4% lower than that suffered by Valencian residents. Behind them, Madrid and Málaga tie, with an increase of 15.5%, ahead of Alicante, which is also at its historical maximum (10.8 euros/m2) after an increase of 14.3% in one year, and Barcelona, ??where it rose 12.2%.
However, the average price of the Catalan capital continues to be the highest (20.8 euros/m2), followed by Madrid (€18.7/m2), Donostia (€17.3/m2) and Palma de Mallorca ( €15.5/m2), but Valencia is now almost at the same level as hitherto more expensive cities, such as Bilbao (€13.8/m2), where the price has only risen 2.7% in the last year , and Malaga, where the average rental cost is €13.7/m2, and clearly exceeds Seville (€11.3/m2).
Curiously, in February there was a minimal decrease, of just 8 tenths, in the price of rentals in Valencia compared to the January record, but we will have to wait to know if this brake represents a change in trend or is limited to reflecting the sluggishness From the market.
Looking back, it is worth noting that the price per square meter was 5.8 euros 10 years ago, 8.3 euros five years ago and 9.2 euros two years ago, which clearly indicates an increase each time. faster. It was in March 2022 the last time the annual rent increase in the capital of the Valencian Community was below double digits.
After Ciutat Vella, the most expensive districts in Valencia to rent are L’Eixample (€15.4/m2), Poblats Maritims (€13.8/m2) and Camins al Grau (€13.6/m2), and the cheaper, L’Olivereta (€11.1/m2) and Rascanya (€11.8/m2).
