The rented homes that have been less than 48 hours on the market in April accounted for 15% of all leasing operations that were closed throughout Spain. Even so, the differences between markets are notable, since in some capitals these ultrafast rents are non-existent while in others they represent a third of all operations.
The rental market is picking up speed in most Spanish capitals and all those homes that are in price ‘fly’ within a few hours. Although the current one is the moment in which more homes go out to the market, the enormous rotation of these causes that the user perceives it as a decrease of the offer. Faced with such a strong demand, the housing stock for rent is still insufficient, so that measures are needed to favor the appearance of new product in the market to reduce the tensions in prices and situations of stress experienced by those seeking a home for rent.
Capitals: hot zones
Provincial capitals are the areas in which the interest of rental demand is often concentrated, so that immediate rental rates are usually higher. Pamplona is the city in which there was a higher percentage of immediate rents over the total of operations: 36%. They are followed by Santa Cruz de Tenerife (with 28% of all operations) and San Sebastián, with a rate of 27%, Burgos (with 23%) and Girona (22%). In Barcelona, 20% of all closed rentals were less than 48 hours on the market, same rate as Malaga, Palma, Seville and Valencia. In Madrid the percentage is located at 18%.
It should be noted that in 3 Spanish capitals there is no immediate rental phenomenon: Zamora, Cuenca and Badajoz, while in Ávila, Oviedo, Huelva or Albacete it is equal to or less than 5%. With an incidence lower than 10% are the Santander, Ourense and Pontevedra markets.
Prices in Spain
The prices of homes that have registered an immediate rental in Spain, more than a third (36%) are below the monthly € 500, while 41% are between that amount and € 750 per month. The remaining 26% is divided between 17% who have an income between 751 and 1,000 euros, 5% between 1,001 and 1,500 euros and 1% above 1,500 euros.
Sizes in Spain
Most of the houses that are rented in a matter of hours in the country have a size below 80 m2: 10% have less than 40 m2, 28% between 41 m2and 60 m2; and 28% between 61 m2and 80 m2. 18% of the dwellings leased urgently had between 81 m2and 100 m2; and only 10% had a surface greater than 100 m2.