«THE NEW RENTAL INDEX LIMITS INCREASES FROM THIS YEAR: the maximum revision in January will be 2.2%»

The indicator will apply to contracts signed after the entry into force of the Housing Law, on May 25, 2023

The price of rent in Spain continues to increase, and with it, generating great concern in the Spanish population already latent in 2024. Specifically, the amounts grew by 11.5% at the end of the year compared to the average price in December 2023, according to data published this Thursday by Idealista. Furthermore, the real estate portal placed the average amount requested per leased square meter at 13.5 euros per month, a new historical record.

The reality is that none of the communities are immune from this increase in rental prices. The Community of Madrid occupies, by far, the first place on this podium due to a year-on-year increase of 16.4%.

Madrid is followed by Catalonia and the Valencian Community, with increases of 12.4% and 12.1%, respectively. Still above the average are Asturias (12.1%) and Cantabria (11.6%). While at the other end of the list, La Rioja is the region with the most modest increase, 6%, followed by Navarra (6.6%), Murcia (8.2%), Aragón (8.6% ) and Euskadi (9%).

The new rental index

With the intention of avoiding disproportionate increases such as those established so far in the rent of lease contracts, the National Institute of Statistics (INE) has published a new rent index that limits increases to 2.2% from this date. anus. The new indicator shows the interannual variation in November 2024. This percentage will be applied to rental contracts that must be reviewed in January, while contracts that must be reviewed in February will use the data for December 2024.

In this way, this will be the monthly tool to annually update the rental contracts signed since May 25, 2023, when the Housing Law came into force.