Barcelona is not a city suitable for “traditional” rentals. The cocktail of skyrocketing demand, out-of-control prices, tourist pressure, and homeowners’ search for greater profitability has made it difficult for those who want to rent a house they would live in for years and turn it into their own home. If they are also looking for a reasonable apartment – and “reasonable” includes the conditions and price as well as the features of the apartment – the mission is almost a fantasy.

This is the (not so) new reality of renting housing.

No traditional rental housing. Result recently shifted Catalan Newspaper After seeing how an advertisement for a 37 m2 flat in Barceloneta for sale for 975 euros per month attracted more than 450 requests for visits in just a few days. The reason: The real estate market in the Catalan capital is pushing aside “traditional” rentals with contracts of at least five years in favor of other formulas more attractive to landlords.

A quick call comes in to check. On Idealista, there are 4,100 listings for rooms for rent and 2,400 monthly rentals in Barcelona, ​​compared to 4,700 listings for houses and apartments for rent in Barcelona; but among the latter it is not uncommon to find landlords who, in stating their conditions, state that the house is suitable. It is only available on a “temporary” basis and is limited to a maximum period of 11 months. Added to this panorama is an extensive catalog of accommodation advertised on Airbnb for visitors, containing thousands of offers.

The most attractive option. Lately Newspaper In fact, it was stated that the supply of rooms on the main real estate portal already exceeds that of traditional rental houses, with 4,200 options available in Barcelona. Why: Many homeowners see single-bedroom or seasonal rentals as a more lucrative alternative to traditional rentals.

In fact, behind the advertisements there are no longer just individuals offering their flats for free. The success of the formula even encouraged professional management.

“Bypass restrictions”. There are already groups that question the use of seasonal rental, an option designed for digital nomads, students, travelers, and not for renters who want to turn their home into their habitual and permanent residence. In February, Sindicat de Llogateres warned of the “proliferation of such leases” and warned that they were being used by property owners “to circumvent the restrictions of the Urban Rental Act, inflate prices and violate the rights of tenants.” Newspaper recently announced that they have reached more than 40% of the supply in some neighborhoods of Barcelona.

Sindicat de Llogateres’ warning is important because, as the Barcelona Urban Property Chamber admits, the reference index of rental prices is designed for traditional contracts that demand tenants to look for a stable home. “The system provides price values ​​for determining the rent for new leases for primary residences. Therefore, it will not affect other uses that do not have this condition, such as seasonal ones or other uses other than residential.” sign.

Advertising of houses for rent in Barcelona.

Neither easy nor accessible. The other big challenge faced by renters in Barcelona is that the conditions that apply to traditional rentals do not always make them suitable for every budget. It is verified again with a quick and simple search. Considering that experts do not recommend allocating more than 30 percent of income to rent, it is stated that a couple with a salary of 1,500 euros can afford a monthly payment of around 900 euros. Currently, Idealista offers only 120 options in Barcelona in the range of 800 to 1,000 euros per month; This includes a two-bedroom apartment in La Barceloneta for which they are asking 950 euros. Size: 11 m2.

In the same list there are other options, such as a 40 m2 apartment in El Raval for 1,000 euros per month, a 32 m2 studio for the same price in Camèlies or another house of 21 m2 in Picalquers for 950 euros and warns managers that these options are not suitable. It cannot be visited as “the reservation process is 100% online”. Availability: from one to 11 months. Another illustrative example is the one that gives details. Catalan Newspaper: A 37 m2 apartment in the heart of Barceloneta for 975 Euros and received almost half a thousand visit requests in a few days.

Prices… and indices. In the background is the increase in rental prices in recent years; This is a trend that is not unique to Barcelona and is also seen in other cities of the country, such as Madrid. Idealista calculates that rental housing prices in Barcelona currently stand at 20.7 euros per square metre, well above the 14.2 euros reached in mid-2021 during the hangover from the real estate crisis, or 11 euros in 2014.

But now an extra factor is intervening in the Catalan capital’s rental market: the reference price index, a tool that was made official in the middle of last month and which the State Council hopes will benefit around 200,000 homes and contribute “for a long time”. -term stability.”

So what’s the situation? In March, Idealista recorded a slight decrease in rental prices of 0.3% compared to February; but at some points, such as the Eixample or Nou Barris, the rate was over one percentage point. But the truth is a little more complicated. Data from Incasòl for the last quarter of 2023 showed an almost evidentiary price increase of 0.6%, with declines in certain areas of the municipality; but above all this reflected a “squeeze” in the number of contracts signed: 8,531, i.e. 30.6% less than in the previous year. For the whole of 2023, there was a decrease of 19.3% compared to the same period of the previous year.

The collapse can be explained in various ways: by the impact of prices, by a decline in the rental stock or, in view of the upcoming housing law, by the fact that there are more property owners available for seasonal rentals or even outright sale. There are those who point to a slowing effect on apartment turnover as landlords choose to prioritize their former tenants or even no longer put their properties on the market. Your house passes from one tenant to another through known references or connections, without going to real estate agents.

mission impossible. “It is now almost impossible to find an affordable rental apartment in the city without contact,” says Óscar Gorgues of the Barcelona homeowners association. PioneerHe points out that in most cases, apartments for less than 1,200 euros are rented to acquaintances without going to online portals.

“Landlords feel insecure with so many legal changes and fear that they will encounter a defaulting tenant and have problems evicting him. When a contract ends, they prefer to sign a new contract with the same tenant and update the rent with the CPI. Gorgues adds: “When the tenant wants to leave , would already introduce acquaintances who are interested in keeping the apartment, and this rental would not be on the market.”

Image | Logan Armstrong (Unsplash)

in Xataka | The crazy spiral of house prices is summarized in a single fact: The price of the same house is 40,000 Euros more today than in 2014.