Supply of shared apartments in Barcelona plummets
Rents increase by 14%, making it the second most expensive city in Spain in which to rent a room
BarcelonaShared apartments have become, in recent times, one of the preferred options for youngsters leaving their parents' home. Yet in the last year the supply of rooms throughout Spain has dried up, leading to a widespread increase in prices. In fact, according to data from the real estate website Idealista, supply in Barcelona has decreased by 73%. This has caused prices to rise by 14% in the last year, up to €450 per month per room, making the city the second most expensive provincial capital in the State, only surpassed by San Sebastian (€460).
In the other Catalan capitals, the trend is similar. Both Girona and Tarragona have seen supply reduced by 53%. On the other hand, Girona, as usual has been the Catalan city where the price has varied the least, with an increase of only 1%, standing at €340 per month. On the other hand, Tarragona has seen the greatest increase in all of Spain, since the average of €330 per month is 20% higher than the same figure one year ago. On the other hand, Lleida was the provincial capital where the supply of shared apartments fell the least (-24%), despite the fact that prices rose by 11% and stood at €265 on average.
A widespread fall
This negative market trend has been widespread throughout Spain. In fact, the supply of shared apartments fell by 45% over the last year. This drop, according to Idealista, would go hand in hand with the also sharp reduction in the total number of homes for rent. Even so, Barcelona (also second in the ranking, only surpassed by Palma), Girona and Tarragona were are among the 10 cities where supply fell the most.
On the other hand, the average age of people who share an apartment in Spain has increased by one year compared to twelve months ago and now stands at 34. Vitoria, Oviedo and Ávila are the Spanish cities in which flatmates are on average older, with an average age of 42. On the other hand, those in Valencia are the youngest (26), followed by Castellón (27), Santander (27) and Salamanca (29). In Catalan capitals, flatmates in Barcelona have an average age of 34, while in Girona, Tarragona and Lleida this rises to 36.
A centralised market
Data from Idealista website also show that 31% of the total supply of rooms for rent in Spain are in Madrid. This percentage is much higher than that of Barcelona (10%), which is the next city in Spain with the highest market share. Third comes Valencia, with a market almost equal to that of the Catalan capital, with 9% of the total in Spain.