Rent falls in Spanish cities as virus boosts demand for space

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Rental prices in Spain's major cities fell in July, data from one of the biggest property portals showed on Tuesday, as the coronavirus pandemic drove up interest in less densely-populated areas, according to Reuters.

Between June and July, rents dropped by an average of 2.5 per cent in Barcelona and 1.7pc in Madrid, according to Fotocasa, although they remain Spain's most expensive locations.

“Many Spaniards are considering leaving the big cities and going to live in outlying areas where they can find bigger, brighter and more spacious homes,” said Fotocasa's communications director Anais Lopez.

Spain imposed one of Europe's strictest lockdowns in March, confining a population known for spending time in parks and bars to their homes.

While average July rents across Spain ticked down 0.8pc from June, they were still 7.9pc higher year-on-year, the company said.

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