Renting a Property

Rental Market

More and more Spaniards have been buying instead of renting their housing in recent years. Spain now has the lowest EU rental rate at 13%, compared to an average of 40%. Low salaries and expensive housing mean that most Spaniards are living at home longer (late 20s/early 30s) and then buying a home.

Property prices have risen dramatically over the past several years due to a boom, so there has been upward pressure on rentals. Monthly rentals for a 1-2 bedroom furnished flat start at €600/month in Madrid and Barcelona.

May to July is the best time for flat hunting; August can be difficult as people are on holiday. September tends to be the worst month as people return from vacation and students start a new year. The housing market can also be slow over the Christmas period.

Finding a good apartment at the right price before you arrive in Spain is difficult. Landlords prefer to meet tenants before signing a contract. If you require your living arrangements to be organised before you arrive, you can use an apartment rental service. However, these do tend to be expensive.

If you’re having trouble finding a place or are in a rush to get settled, there are two types of paid accommodation services:

I. agencias inmobiliarias (real estate agents) and
II. room finding services.

There are many agencias inmobiliarias in every neighbourhood. Although their main business is selling property, most agencies tend to have at least a few flats for rent. Their fee is typically the equivalent of one month’s rent. This is an expensive alternative, but worth it if time is limited.

Room finding services are more proactive and cost a bit less. They charge an upfront fee (typically €60-120) and then try to find an apartment that meets your requirements. Although this sounds like a smart choice, these services aren’t always as good as advertised. You might be sent first to overpriced or substandard apartments in an attempt to unload those hard-to-rent properties.

In order to avoid this, it's best to talk to others who have used the service and to ask the agent to see a list of properties that match your constraints before you hand over any cash. They may not show you everything, but the best services will at least try to address your concerns. In case you do get caught in the situation of being sent to lousy apartments, the key is to be persistent and do not accept a flat simply because the agent pushes you.