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With rent prices across Spain now off the charts, it’s never been more difficult to secure a long-term tenancy in this country. As monthly lease costs spiral out of control, soaring past the amount most households can afford, two municipalities in the Region of Murcia have stormed past the rest in rental prices: San Pedro del Pinatar and Mazarrón.

 

According to official figures, in February, the average rent in the Region rose by 8.2% and homes now cost €8.3/m2 per square metre.

 

San Pedro, Mazarrón and Los Alcázares are the municipalities where rents are most expensive, with San Pedro del Pinatar seeing a massive 17.7% increase in just one year.

 

Mazarrón is not far behind, with a 27.5% rise, while Los Alcázares has seen a 12.5% increase. These coastal towns are clearly in high demand, driving up prices and making them some of the most expensive places to rent in the Region of Murcia.

 

The two largest municipalities in the Region, Murcia and Cartagena, are also experiencing steady growth, although at a slower pace than their coastal counterparts. Murcia has seen a 7.7% increase in rental prices, while Cartagena has risen by 7%.

 

La Manga, meanwhile, remains the most expensive area in the Region, with prices reaching €10.1/m2.

 

The Region of Murcia is not alone in its rental price surge. Across Spain, lease prices have increased by 11% in the past year, with the average price now standing at €14/m2. This represents a historic record for rents in Spain, with prices rising by 5.4% in the last three months and 0.9% in the last month alone.

 

While some provinces, such as Teruel, Zamora and Ávila, have seen massive increases in rental prices, others, such as Guipúzcoa and Badajoz, have experienced more modest rises.

 

Barcelona remains the most expensive province to rent a home in Spain, with prices reaching €20.2/m2, followed closely by Madrid, the Balearic Islands and Guipúzcoa.

 

Conversely, rents have risen in all Spanish regions since February last year. The Community of Madrid leads the rises (14.4%), followed by Asturias (12.5%), Aragon (12.5%), Catalonia (12.1%), Valencia (11.8%), Andalucía (11.4%) and Castilla y Leon (11.2%).

 

The increases in La Rioja (10.9%), Castile-La Mancha (9.9%), the Balearic Islands (9.6%), the Canary Islands (8.7%) and the Region of Murcia (8.2%) are below the national average.

 

Meanwhile, the smallest increases have been in Extremadura (5.7%), Navarra (6.9%), Cantabria (7.2%), the Basque Country and Galicia (7.6% in both regions).

 

 

Image: Ayuntamiento de San Pedro