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Rent on the verge of €1,000 per month in Catalonia

Some need half of salary to pay for housing costs, which are expected to slightly decrease

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19 June 2019 03:17 PM

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ACN | Barcelona

Renting an average 80m2 flat in Catalonia cost 972 euros last December, according to a report by Fotocasa and Infojobs websites, which means almost half of the salary for some people.

Taking into account that the average wage is 23,727 euros per year, or 1,977 euros per month, people who live alone with an average salary and housing costs will spend 49.2% of their income on the rent.

The price per square meter is at 12.16 euros in Catalonia, higher than the Spanish average (8.3 euros).

Another report by estate agent Forcadell estimates that the prices will slightly go down this year and the next one, especially for those accommodations above 1,200 euros per month.

The firm says that due to the political crisis in autumn 2017, some foreigners who tend to afford more expensive rents, left the country and "have not come back yet."

Yet it won't be the same for the rest, where there is "a brutal excess of demand."

The paper says that if prices slightly decrease in Barcelona, this means it will increase in its metro area.

Owning a flat, also reads Forcadell's work, will cost 5% less this year, compared to 2018. Yet it adds that neither in the property nor rental markets is there a "bubble."

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  • General view of the press conference from the Forcadell agency. (Photo: Maria Belmez)

  • General view of the press conference from the Forcadell agency. (Photo: Maria Belmez)

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