Rent loses prominence to decide where caps will be extended, according to the Chamber of Property

BarcelonaThe Generalitat has determined that there are 118 municipalities that must continue to be included in the stressed residential market area (ZMRT), a classification that establishes, among other things, where rent caps apply. However, according to the Chamber of Urban Property of Barcelona, "only" in 33 of these towns do families have to dedicate more than 30% of their income to paying rent and utilities.

It maintains that there is a "paradox" because rent caps are "the main practical consequence" of the declaration of a stressed area, but, on the other hand, they lose prominence when determining that a municipality's housing market is stressed: two years ago there were 54 municipalities where rent and utilities consumed more than 30% of household income.

The Chamber of Urban Property attributes this to the increase in the reference rent. "The ratio for many municipalities has fallen just below the threshold [of 30%], even though the effort level remains high," acknowledges the entity.

The rent burden is one of the four requirements for a municipality to be considered ZMRT. The Generalitat also takes into account whether the payment of the mortgage installment and utilities exceeds 30% of income, whether the accumulated rent increase is three points above inflation (CPI, an indicator that measures the increase in the cost of living), or whether the purchase price has increased by the same proportion.

A little over a week ago, the Government announced changes to the list of municipalities considered stressed areas: the Catalan executive considers that 118 localities from the first batch – out of 140 towns and cities – still meet some of the requirements to be part of the stressed housing area, and excludes 22. This Thursday, the Chamber published a study analyzing which indicators apply to each town hall. It does not consider the 53 that until now were not part of the ZMRT and the 131 from the second batch.

The mortgage burden, on the rise

Beyond the burden of rent, the municipalities where rent has increased by more than three points above inflation are also decreasing – from 98 two years ago to 57 in 2026 – and where property sales have increased by the same proportion – from 98 to 67. According to the Chamber, these decreases are, "to a large extent," because the reference rent is growing, "and not due to an effective market easing." "In fact, rental prices in the 118 municipalities to be extended have been growing strongly," it acknowledges.

In contrast, villages and cities where the mortgage burden and utilities account for more than 30% of the resources entering families' pockets have increased: they go from 59 in 2024 to 78 today. The report points out that the main explanatory factor is the increase in financing costs, combined with the rise in purchase prices. "The installment is growing faster than the income," summarizes the Chamber.

Relief in stressed municipalities

In the general plan, the Barcelona Urban Property Chamber points out that municipalities considered ZMRT are increasingly failing to meet the conditions set by law: whereas two years ago they were 2.4 on average, now they are 1.99. However, it stresses "the persistence of market tension".

The entity regrets that the tense market zone "only addresses part of the problem" and does not tackle the difficulties in buying a home: "A municipality can remain in the zone due to the rising cost of access to property, without the activated measure being able to act on it". Along these lines, it insists that "rent control does not increase supply nor does it entirely reduce the financing costs of new supply", and that measures that would indeed influence this "operate on a much longer horizon", such as promoting subsidized housing (HPO), land mobilization, and aid.