Spain: House Prices, Rents, and Rental Yields
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Last Updated: May 08, 2007
Yields are low in Spain
| Last Updated: May 8, 2007 | |||||
| MADRID1 - Flats | COST (€) | YIELD (p.a.) | PRICE/SQ.M. (€) | ||
| TO BUY | MONTHLY RENT | TO BUY | MONTHLY RENT | ||
| 30 sq. m. | 178,470 | 625 | 4.20% | 5,949 | 20.84 |
| 50 sq. m. | 280,800 | 866 | 3.70% | 5,616 | 17.32 |
| 75 sq. m. | 373,500 | 1,076 | 3.46% | 4,980 | 14.35 |
| 100 sq. m. | 498,900 | 1,313 | 3.16% | 4,989 | 13.13 |
| 120 sq. m. | 619,200 | 1,483 | 2.87% | 5,160 | 12.36 |
| 150 sq. m. | 720,450 | 1,749 | 2.91% | 4,803 | 11.66 |
| BARCELONA2 - Flats | |||||
| 30 sq. m. | 205,770 | 642 | 3.75% | 6,859 | 21.41 |
| 50 sq. m. | 336,550 | 1,041 | 3.71% | 6,731 | 20.81 |
| 75 sq. m. | 522,750 | 1,345 | 3.09% | 6,970 | 17.93 |
| 100 sq. m. | 723,000 | 1,550 | 2.57% | 7,230 | 15.5 |
| 120 sq. m. | 870,600 | 1,883 | 2.60% | 7,255 | 15.69 |
| 150 sq. m. | 1,042,800 | 2,446 | 2.84% | 6,952 | 16.44 |
| 1 Centro, Moncloa, Chamberi, Salamanca, Chamartin 2 Sarria-Sant Gervasi, Les Corts, Eixample Source: Global Property Guide |
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Returns from rentals are low. Flats in Madrid yield only up to 4.2%, with an average of 3.4%. Barcelona flats yield a bit lower at an average of 3.1%, only reaching 3.75% for a 30-square metre (sq. m) apartment.
Landlords are often better off keeping the unit unoccupied because the damage done by tenants is often higher than the rental income. In 2001, 14% of the total housing stock was vacant, bigger than the entire rental stock. Only 10% of all housing is in the rented sector in 2004, down from 20.8% in 1981.
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Your Comments
posted by Anastacia Thomas | 2007-04-02
student, Ansbach Germany
i needed Spains per capita rent for a spanish project and it really helped me.
posted by Rob Innis | 2007-06-29
Real estate, Costa Blanca Spain
The Spanish government has announced tax concessions - including zero tax - on certain rental incomes for landlords to encourage more renting of property to ease the situation for Spanish first time buyers given the higher mortgage rates.