October 28, 2021
Rental Price Increases 0.80% In The Third Quarter In Aragon

Rental Price Increases 0.80% In The Third Quarter In Aragon

Teruel and Zaragoza recorded contained quarterly increases with increases of 1.41% and 0.52%, respectively, while Huesca was the fifth that adjusted the most in the country due to a decrease in the price of 2.99%.

The typical rental apartment in the Aragonese community registered an average rental price of 8.02 euros per square meter in September 2021, which represented a quarterly increase of 0.80%. An increase that has been the second smallest in Spain. However, in relation to September 2020, there has been a decrease of 3.75% and 1.47% monthly, according to data from Pisos.com

Aragon was the seventh autonomy with the most expensive monthly payment, behind communities such as, for example, Madrid with a price of 12.42 euros per month, among others. In addition, the price of the standard rental apartment in the Aragonese community was below the Spanish average in September of this year, since in the national territory the price amounted to 9.81 euros per square meter. This figure marked a monthly increase of 0.82% and a quarterly increase of 1.87%, although year-on-year, it fell 1.38%.

All Aragonese provinces fell quarterly, with Huesca registering a decrease of 2.42%, the most intense cut in the country. From one year to the next, Huesca (6.96 &) registered the fifth most intense increase in the country. On the other hand, Zaragoza (-4.57%) and Teruel (-1.18%) registered little bulky cuts.

With 7 euros per square meter in September 2021, Zaragoza was the most expensive Aragonese province for the tenants of this autonomy, while Huesca, with 5.64 euros, was somewhat more affordable. Teruel (3.91 euros per square meter) was positioned as the fifth most affordable province in Spain.

Regarding the Aragonese capitals, Teruel (1.41%) and Zaragoza (0.52%) showed contained quarterly increases, while Huesca (-2.99%) was the fifth that adjusted the most in the country. Year-on-year, Huesca (8.73%) was the sixth capital that rose the most in Spain, and Teruel (6.91%) the eighth. Zaragoza (-3.66%) showed an intermediate decrease.

In the section of average monthly income, Zaragoza (8.98 euros per month) was the most expensive provincial capital in Aragon. Teruel (5.96 euros per square meter) was fourth in the national classification of the cheapest, while Huesca (7.47 euros per square meter) was somewhat more expensive.

Factors to take into account
“Although rental housing is beginning to rebound timidly, it is still cheaper to be a tenant today than it was a year ago,” says Ferran Font, director of Studies at Pisos.com, who adds that the behavior of the rental price it is strongly marked by the location component, “something that has barely changed with the health crisis and the short-lived expansion of teleworking.”

In addition, “the pandemic led many workers to leave the big cities and, although remote work continues, most offices have returned to face-to-face work, reactivating rents in front-line capitals.”

The evolution of the rental price is also subject, according to the expert, to the recently announced legislative changes. In this sense, for Font, “interventionism has shown in other countries not to be an effective formula to encourage the supply, but rather the opposite”.

The manager added along these lines that “putting obstacles in the way of the owners could lead to a divestment effect, especially in large holders, who would flee to other places with more advantageous taxation”, the expert declares.

Regarding private landlords, “the implementation of tax benefits could not compensate, which would be detrimental to the maintenance of rental homes.” Likewise, Font believes that “the focus should be on social rent, but not by forcing developers to reserve land they have bought on the free market, but by handing it over from public administrations.”

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