The rental price chains seven years of increases — idealista/news

The rental price chains seven years of increases — idealista/news

2023-06-09 06:48:57

The Rental Housing Price Index (IPVA) in 2021 rose 1.6%, a rate seven tenths higher than that of 2020according to the data published this Thursday by the National Institute of Statistics (INE).

According to the INE’s experimental statistics, this 1.6% increase means that the prices of rented housing have risen for seven years, although the growth registered in 2021 does not exceed the maximum reached in 2019 (+3.5%) .

According to published data, of the total number of rented dwellings, 34.6% did not change their price between 2020 and 2021, while 18.6% lowered it.

For his part, 46.8% of tenants increased the rental price of their homes. Of them, half did so below 5% and one in four above 10%.

The variation in the prices of the leases is different if they are leases whose contract is signed in 2021 or if they are already existing contracts. Thus, the new contracts increased their prices by 3.5%, while the prices of the contracts that already existed before that year increased by 1.2%.

By type of building, collective housing (those located in buildings) increased their prices by 1.5%, six tenths more than in 2020, while the prices of rented single-family housing increased by 1.9% in 2021, which It represents 1.3 points more than in the previous year.

According to Statistics, the price variation rate of rented single-family housing was higher than that of collective housing, which had not happened since 2015.

By size of the home, the largest increases occurred in the largest homes, with price increases of 1.8%. On the other hand, the smaller ones (less than 60 square meters) increased their rental price less, with a rate of 1.2%.

Valencian Community records the highest price increase

The prices of rented housing increased in 2021 compared to 2020 in all the autonomous communities. The largest increases occurred in the Valencian Community, Castilla La-Mancha and the Region of Murciawith increases of 2.6%, 2.4% and 2.3%, respectively.

In turn, Comunidad de Madrid (1%), Cataluña (1.3%) and Principado de Asturias (1.5%) were the communities with the lowest annual increases.

The statistic also reflects the 20 provincial capital municipalities where prices have risen the most from the base year, 2015, to 2021. One in three rental homes is concentrated in them in 2021.

Between those years, the biggest rise in prices occurred in Valencia, where the price grew by 18.1% between 2015 and 2021. It is followed by Palma de Mallorca (+17,5%), Málaga (+17%), Girona (+16,1%) y Guadalajara (+14,3%).

This experimental statistic from the INE, based on 2015, is prepared with the data provided by the Tax Agency on the rented homes for which the taxpayers have received income in that year, regardless of whether or not they were rented in previous years.

The INE explains that the difficulty of including homes not rented in previous years is that there is no comparative element that allows calculating the evolution of their price. To solve the problem, a statistical model has been developed that allows the estimation of the rental value of homes in periods where it is not available.

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