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On average renting a single room in Barcelona, Madrid or Palma de Mallorca exceeds 500 euros
- September 18, 2024
In recent years, we have seen a significant increase in the practice of dividing up properties to rent out rooms. This trend, which may seem like an attractive solution to maximise the yield from a property, has raised serious concerns among legal experts. Many see this practice as an attempt to circumvent rights established by theLey Viviendaand theLey de Arrendamientos Urbanos( LAU ).
This rental strategy, often referred to as “beehive houses” or “vertical shanty towns ,” involves dividing up living spaces in a single dwelling, which has become a common practice. Legal sources warn that by doing so, many owners are opting for contracts that are governed by the Civil Code , which can lead to more unfavorable terms for tenants.
According to recent data from the real estate portal Idealista, the seasonal rental trade has experienced impressive growth. In the second quarter of 2024, the supply of this type of rental has increased by 55% , which already represents 13% of the total real estate market. This translates into a significant increase in the number of rooms in shared apartments , which has grown by almost 30% .
What is more worrying is the increase in demand for these rooms, which has risen by 15% . As a result, many potential tenants are faced with a highly competitive market, where the national average price per room is 400 euros per month. However, in cities such as Barcelona, the cost can go up to 565 euros per month, and in places like Palma de Mallorcaeither Madrid, rents average around 500 euros .
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