Rental prices in the Valencia region have increased by 15.6% in the past year.

Rental prices in the Valencia region have increased by 15.6% in the past year.

Housing prices in the Valencian region rose by 15.6 percent over the past year and reached €11.1 per square meter, according to the latest price report from Idealista. The data represents the highest price in the historical series.

For its part, the rental price in Valencia rose by 19%, an increase that left the square meter at 14.1 euros, also a historical record for the city. As for the demarcation of the Valencia borders, prices rose by 18%, bringing the rent per square meter to 12.1 euros per month, also a record.

In the southern provinces, prices have risen by 13% in the last 12 months, to 10.6 euros per square metre per month. In Alicante, they are asking for a 14.1% increase to rent homes, with an average of 11.5 euros per square metre. These are the highest prices since Idealista recorded records.

On the other hand, in the north, there was a 15.2% growth in rental home prices. Currently, the average price per square meter is 8.4 euros per square meter per month. In Castelo de la Plana, the average rent is 8.1 euros per square meter per month, which means an increase of 13.6% compared to June 2023.b

“Measures fail”

The idealista’s spokesman, Francisco Iñarreta, pointed out that the data of this report “show the failure of all the measures and policies that were taken on the issue of rent, which culminated a year ago with the housing law.”

He continued: “All indicators, such as supply and demand pressure, show that the situation continues to deteriorate, and the annual rise in prices in the current month of June is four points higher than its counterpart recorded in June 2023.”

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“The situation of low supply and very strong price increases is more severe in stressed markets, such as Valencia, Madrid, Palma or Barcelona, ​​where income increases are dangerously close to 20% year-on-year,” Iñarreta noted, “but the consequences of implementing these policies are becoming clear.” Indeed, all over the country.”

He stressed that “insisting on a clearly failed regulation or continuing to wait for the effects of the housing law to appear will only significantly worsen the situation of thousands of vulnerable families,” stressing at the same time that it is “necessary” to stop the deterioration of the rental market and take bold measures that restore landlords’ confidence in the market.

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