In the first quarter of 2023, the Idealista portal found that, on average, 18% of homes rented in Spain did not last 24 hours on the market. During the second quarter of 2024, 17% of such offers were recorded. Despite the slight drop, the figure is still worrying in some areas of the country, including, surprisingly, Madrid. In our community, the number of express rentals has decreased compared to previous periods: only 15% of the properties are advertised for less than one day.
Madrid, province within the national average
According to Idealist madrid has dropped its position in the ranking; the percentage of express rentals has decreased by one point. Madrid concentrates most of the users of the Idealista portal within the country and also suffers the greatest pressure of demand in the buying and selling market. On the other hand, the rental offers thenumber of long-stay offers hasdropped significantly in the last year (by 22%), which may have led to an increase in express offers. However, this has not been the case. Probably because rental prices have already reached the highest levels in the last few years 19.8 per square meter in the capital.
The Zones in the community where landlords take the least time to rent are those where apartments are valued at less than €17 per sqm. They normally cost less than 850 euros per month. This is especially true in locations such as Fuenlabrada and Getafe. In neighborhoods such as Chamberí, Salamanca or Retiro, as they are less common, “cheap” apartments fly in hours.
Central neighborhoods are mostly in demand by seasonal tenants, who use different resources such as Idealista or smaller Instagram accounts such as <shortcode data-tag=”trackLink” 0=”” 1=”style=”color:”” 2=”#000000;”>”>busco.madrid to share housing during the months they need it. They are also in demand by tourists, who will now have fewer options to choose from because of the new regulation of vacation rentals on which the City Council is working.
Above-average provinces and cities
The provinces with the highest scores in the study are Alaba and Gipuzkoa, both with 29%. They are also high in Huesca, Palencia, Girona, Huelva, Vizcaya and Tarragona. In the case of Huesca and Bizkaia, this could be due to the fact that their capitals are the ones with the lowest supply of rentals in stock in Spain.
On the contrary, Jaén, Lugo, Cáceres and Badajoz are the zones where express rentals have less weight. Jaén is positioned in a privileged place in the list with 7%, marking a great difference with the most affected provinces.
In the case of cities, Idealista confirms that the highest percentages are registered in Toledo ( 32%), Vitoria (30%), Melilla (29%), Teruel (29%) and Palencia (26%), with the capital of Toledo being one of the cities that has experienced the greatest growth in this phenomenon: 13 points more than the previous year. Madrid city is below the average with the same result as in Malaga and Cordoba: 14%.