Spain's long-term rental supply has fallen by 44% in seven years

More than 60% of the homes removed from the long-term rental market are concentrated in Madrid, Barcelona, Valencia and Sevilla

Finding a long-term rental in Spain has become harder, and it isn't just because rents have gone up. The number of homes being advertised for permanent rental has fallen by almost 393,000 in just seven years, according to new figures from Idealista. There were 902,664 properties advertised in 2018, compared with 510,091 in 2025. That represents a 44% drop in rental properties available across the country.

The shortage is particularly noticeable in Spain's biggest cities. Madrid, Barcelona, Valencia and Sevilla together account for more than 60% of the homes that have disappeared from the rental market since 2018.

Madrid has seen the biggest fall in actual numbers. The region lost 137,411 rental listings over the period, with its available stock dropping from 252,442 homes to 115,031. Despite the decline, it still has the largest rental supply of any autonomous community.

Cataluña has experienced an even steeper percentage fall. Its rental listings dropped by 71%, from 174,994 in 2018 to 50,412 in 2025, a reduction of 124,582 homes.

The cost of renting has also risen in both regions. Average advertised rents in 2025 were €20.3 per square metre in Madrid and €15.4 in Cataluña, compared with €14.4 nationally. For a 70-square-metre property, that works out at roughly €1,400 and €1,100 a month respectively.

Other parts of Spain have also lost a significant amount of rental stock. Andalucía was down by 34,403 listings, while the Comunidad Valenciana lost 14,499. Galicia, the Basque Country and Asturias each recorded falls of more than 10,000 homes. There was one exception. La Rioja actually gained 282 rental listings compared with 2018.

What is happening to all those homes?

Part of the change is linked to the rapid growth of temporary rentals. Some properties that might once have been offered to long-term tenants are now being marketed for shorter stays.

There has also been a growing problem with properties being advertised as temporary rentals despite effectively being used as people's main homes. The Spanish government has been tightening the rules around temporary and room rentals as part of its latest housing measures.

Meanwhile, demand for long-term rentals remains so strong in many areas that properties can disappear almost as quickly as they are advertised. In some cases, potential tenants may never even see a property online before it is snapped up.

The figures show just how much the rental market has changed since 2018, particularly in the places where finding an affordable home was already difficult.

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