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Óscar Bartual Bardisa
Alicante
Martes, 4 de febrero 2025, 07:25
In December, a slight decline prevented the city of Alicante from closing 2024 with a new peak in rental prices. With 11.8 euros per square metre, prices have nearly doubled since the pre-bubble era and continue to rise month by month.
According to data from the Idealista portal, rental prices increased by 10% in January compared to the same month in 2024. All neighbourhoods have seen year-on-year increases, with some areas, like Playa de San Juan, nearing 14 euros per square metre, while La Goleta-San Antón-Plà del Bon Repòs now surpasses the centre of Alicante.
Amidst this upward spiral, driven by an unrestrained drop in rental supply, the competition to rent a home has surged in the provincial capital. By the end of 2024, it had risen by more than 13%, a figure below the national average but complicating the ability of Alicante residents to enter the rental market.
Up to 21 families are competing to rent a flat, compared to 18 a year ago, according to a report by Idealista. The situation is concerning but not as strained as in other dynamic locations like Vitoria and Barcelona, where there are over 108 and 52 interested parties per listing, respectively, or in Madrid, with 42 per rental. Mallorca with 48 families or Pamplona with 61 are also among the most competitive places to rent.
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Óscar Bartual Bardisa
Alicante is one of the most dynamic capitals in Spain where this gap has grown by 13%. It ranks behind Bilbao, Barcelona, Palma de Mallorca, and Seville, while other major cities like Malaga and Valencia have seen declines in rental competitiveness.
The real estate portal warns of the "state of anxiety and emergency that has settled in Spanish rentals." Idealista highlights the issue that goes beyond price, "which remains exceedingly high," and focuses on "the competition among families, which is the major challenge."
Idealista spokesperson Francisco Iñareta explains that "the lack of supply not only drives prices up but also allows landlords to choose from dozens of profiles, always opting for those offering greater security."
Iñareta criticises that this process "has reached vulnerable families, who were always the ones discarded, and then extended to those at risk of vulnerability." A process that has now reached more profiles "and currently, the chosen ones are increasingly elitist, with more job security, higher salaries, savings, or strong family support, excluding a large percentage of families in need of rental housing."
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