Various popular holiday destinations, including Majorca, have been hit hard by price rises. (Image: Getty)
The average cost of renting a home across has skyrocketed more than 20% over the past five years, according to new data.
The figures, published in a report by property property portal on Thursday, suggest average rental prices across the country went from €898.34 (£748.36) per month in January 2020 to €1,125 (937.18) in January 2025, representing a national rise of 20.15%, as per .
The report puts the startling increases down to population growth in major cities, shortages, as well as a growing demand for holiday rental accommodation, as per the outlet.
It noted seven provinces where monthly rental increases were estimated to be above the national average, many of which are go-to areas for British sunseekers.
These include:
- The (+37.14%)
- Catalonia (+31%)
- (+27%)
- Murcia (+23.52%)
- (+22.91%)
- Andalusia (+21.80%)
- The (+21.02%).
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Ibiza in the Balearic Islands (Image: Getty)
The report suggests the provinces with the highest average monthly rent currently are the (€1,672.45), (€1,656.90), (€1,647.90), Las Palmas (€1,206.90), and Málaga (€1,201.50).
However, five regions have seen rental prices fall over the past five years, including the Basque Country (-1.62%), Asturias (-1.66%), Extremadura (-6%), La Rioja (-23.63%), and Navarra (-40.07%).
Meanhwhile, the affordable provinces for renters were found to be Badajoz (€351.00), Ciudad Real (€346.50), Soria (€324.00), Ávila (€313.20), and Ourense (€293.40), as per the outlet.
The website noted stark contrasts in rental affordability across the country, noting that in Ourense it would be possible to rent up to five for the price of one in , or the .
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Ferran Font, director of research at pisos.com said: “The rising cost of rental accommodation is not solely driven by inflation and increasing demand but also by a fundamental shortage of available “.
“Unless effective policies are implemented to stimulate supply and improve access to housing, the situation is likely to deteriorate further in the coming years,” he added.
authorities have responded to concerns from locals in several of the country’s holiday hotspots, where the lack of affordable housing options has become a key issue.
Last month, Prime Minister Pedro Sánchez introduced a 12-part plan to tackle the problem, including measures aimed at introducing stricter regulations over short-term rentals, reports.