The price of rent in Catalonia rose by 3.1% in 2024, according to the INE's Rental Housing Price Index. The rebound was the largest since 2019 and the third highest since 2015.
The increase comes with an apparent contradiction. Catalonia is among the communities with the lowest growth in the index, but new contracts advanced much more than existing ones and pushed the market in a context of limited supply and sustained demand, especially in urban areas and metropolitan areas.
New contracts rose 7.5% compared to 2.6% for existing ones
The annual data reflects two very different rhythms within the same market. Newly signed contracts registered a year-on-year increase of 7.5%, while existing leases increased by 2.6%.
That difference explains that the general index closed the year with a rise of 3.1%, below the state average of 3.5%, although with more intense pressure on access to housing for those who are now entering the rental market.
The increase was the largest since 2019 despite falling below the state average
The 3.1% increase places Catalonia as the third community with the lowest growth in the index during 2024. Even so, the rise is significant in the recent series because only 2019, with 3.6%, and another year since 2015 surpassed the figure now known.
Industry experts link the trend to a limited supply of rental housing and sustained demand. This imbalance is particularly noticeable in urban areas and metropolitan areas, where the pressure on the available stock is greater.
The INE thus places Catalonia with an increase of 3.1% in 2024, below the 3.5% of the state average.