The rental housing market normalised in Catalonia in the third quarter, after the confinement, and prices returned to their upward trend. Nevertheless, they remain below those paid in the third quarter of 2019, when they reached maximums, according to data from the deposits made to Incansòl.
According to the deposits -the most accurate indicator of rental prices-, in Catalonia the average rent was €745.43 in the third quarter. This price is 3.18% higher than the average rent for the second quarter, which was €722.45 euros, but 1.31% lower than the €755.39 for the third quarter of last year.
In the case of the city of Barcelona, the third quarter of last year saw a record high in rental prices, with an average rent of €1,005.79. In the third quarter of this year, the average rent in the Catalan capital was €979.42, i.e. 2.6% less than in the third quarter of last year. Despite this year-on-year decrease, the average rent in Barcelona has increased by 3.1% compared to the second quarter, when the average price was €949.78.
The normalisation of the rental market between June and September, with the de-escalation, is not only reflected in this inflection in prices, but also in the contracts signed. Thus, in the second quarter throughout Catalonia, in full confinement, 21,127 leases were signed, while in the third quarter the number of contracts rose to 38,945, according to data from the Housing Agency. In the case of the city of Barcelona, only 5,801 contracts were signed between March and June, while between July and September the number was 11,055, i.e. double.
Districts of Barcelona
In the city of Barcelona, by district, the most expensive rents in the third quarter were in Sarriá-Sant Gervasi, with an average of €1,342; Les Corts, at €1,143, and the Eixample, at €1,093. Rent in the other districts were below one thousand euros a month, with the lowest rents in Nou Barris, at €735 on average, Sant Andreu and Horta-Guinardó, at €811, and Sants-Montjuic, at €856.