Barcelona rent prices register new record in first quarter of 2024: €1,193.41

Barcelona rent prices continue to register all-time highs, with the first quarter of 2024 recording an average monthly cost of €1,193.41.

This is a 9.8% increase compared to the 2023 figures, according to data released by the  Catalan Land Institute (Incasòl) on Monday morning.

Meanwhile, if the figure is compared to the last quarter of 2023, the rise is 1.3%.

With these figures, Barcelona rent prices continue their uptrend and are almost at €1,200 per month. In fact, since the third quarter of 2022, the price has surpassed the €1,000 mark, when back then, the average monthly cost was €1,066.68.

In almost all districts in Barcelona, except for three, the average rent price surpasses the €1,000. Sarrià-Sant Gervasi is the most expensive one with rent at €1,651.79, followed by Les Corts (€1,388.19), l'Eixample (€1,349,88), and Gràcia (€1,200.33).

Meanwhile, Horta-Guinardó (€973.58), Sant Andreu (€939.88) and Nou Barris (€828.71) are the only districts with prices below €1,000.

The number of contracts in the Catalan capital decreased by 9.8% between January and March if compared to the 2023 figures, however, it grew by 15.2% if compared to the last quarter of the past year.

Across Catalonia, the average monthly rent price is €868,85, which is 6.9% more than the same period last year and 1.7% more than the last quarter of 2023.

All territories: Barcelona, Girona, Lleida, and Tarragona have seen a rise in rent prices, with Barcelona province leading with an average of €957.64, followed by Girona (€668.46), Lleida (€502.9), and Tarragona (€588.25).

According to the released data, there are only six counties in Catalonia that have seen price drops: Garrigues, Lluçanès, Pla d'Urgell, Priorat, Ribera d'Ebre, and Ripollès.

Spanish PM favors limiting tourist accommodation

Spanish Prime Minister Pedro Sánchez praised the "brave step" from Barcelona mayor Jaume Collboni in announcing the plan to remove all tourist accommodation from the city in the next four years.

Sánchez said during an interview with Spanish radio station Cadena Ser that the executive he leads will propose "to society and institutions" a national register of tourist accommodations and will modify the law to let neighbors veto tourist apartments in their buildings.

"We will work with our maximum capacity to solve one of the main problems of Spaniards that explains the rent price increase," Sánchez said.

"We must be aware that much of the housing legislation depends on the city councils and regional authorities, but the Spanish government will do whatever it can to try and coordinate all these efforts and add new ones," he added.