The supply of rental housing has fallen by 25% during the third quarter of 2022, compared to the same quarter last year, according to a study published by idealista. Despite the size of this decline, the fall in stock is less than that recorded in the second quarter, when supply contracted by 37%.
The majority of Spanish provincial capitals (41 out of 52) now have far fewer properties for rent than they did a year ago. The reduction is 52% in Alicante and stands at 47% in Palma, and 46% in Barcelona and Malaga. Valencia has 36% fewer rentals, while in Madrid, Badajoz and Girona it stands at 33%. They are followed by Las Palmas de Gran Canaria (-32%), Ciudad Real (-30%), Tarragona and Guadalajara (-29%).
With falls of 20% or more, we find the cities of Seville (-28%), Teruel (-28%), Ourense (-27%), Castellón de la Plana (-27%), Granada (-26%), San Sebastián (-25%), Toledo (-25%), Burgos (-23%), Oviedo (-22%) and Santa Cruz de Tenerife (-21%).
Despite the widespread falls in output, in a total of 10 cities there are more homes for rent than a year ago. The largest increase is in Lleida, with an increase of 53%, followed by Jaén, with 27%, Pamplona (17%) and Zamora (16%). Below the 15% increase are Albacete (11%), Vitoria (10%), Ceuta (7%), Huesca (4%), Melilla (4%) and Cádiz (2%). In Segovia, the number of properties offered remained unchanged.
At the provincial level, the situation has been similar over the last year. The Balearic Islands recorded the largest drop in supply, with 44% less than a year ago. It is followed by Santa Cruz de Tenerife (-41%), Malaga and Barcelona (-37% in both cases). Las Palmas (-35%), Alicante (-32%) and Madrid (-31%) are above 30%.
Lleida has seen its rental housing stock grow by 31%, followed by Jaén (14%), Navarra (12%) and Huelva (10%). Below 10% are Albacete, Álava and Almería (8% in all 3 cases), followed by Cantabria (5%) and Segovia (4%). In Pontevedra, the stock has not moved in the last 12 months.