Pisos.com continues to offer relevant statistical information about the Spanish housing market. After publishing reports on purchase and rental prices for June 2024, the real estate platform has shared data on the profitability achieved by investors who have chosen to rent properties in the country.
According to Pisos.com’s statistics, the gross rental yield in Spain in June 2024 was 6.10%. This percentage represents the annual return that a homeowner achieved by renting out their property after acquiring it. Considering that the average purchase price of a typical 90 m² residence in Spain was 207,450 euros (2,305 euros/m²) and the average monthly rent was 1,055 euros, the homeowner received a total of 12,668 euros gross annually, resulting in a gross yield of 6.10%.
This figure indicates a decrease of twenty-five hundredths compared to the same period in 2023, when the yield was 6.34%, and a decrease of four hundredths compared to May 2024, which recorded a 6.14% yield.
These data reflect a slight decrease in rental yield, which may influence investment decisions in the Spanish real estate market. Pisos.com remains a key source of information for homeowners and investors, providing a detailed and updated view of investment performance in the real estate sector.
Ferran Font, Director of Studies at Pisos.com, points out that “the rise in rental prices seems to have no limit, delaying the departure of young people from the family home. Likewise, it also makes it difficult for current tenants to choose a location that suits their tastes or a better-equipped home.”
Lleida is the most profitable provincial capital and Donostia – San Sebastián is the least
Pisos.com’s ranking of the average rental yield of Spanish provincial capital cities drew a range from a yield of 8.24% recorded in Lleida to 3.43% in Donostia – San Sebastián. In this regard, the most competitive prices were found in the aforementioned Lleida (8.24%), Teruel (7.62%), Zamora (7.60%), Ávila (7.39%), Murcia (7.19%), Cáceres (7.08%), Las Palmas de Gran Canaria (7.06%), Valencia (7.01%), Jaén (6.91%), and Barcelona (6.91%). In the ranking of the least profitable provincial capitals were Donostia – San Sebastián (3.43%), Madrid (4.61%), A Coruña (4.72%), Pamplona (4.72%), Palma de Mallorca (4.76%), Cádiz (4.87%), Bilbao (5.04%), Vitoria-Gasteiz (5.04%), Granada (5.11%), and Girona (5.19%).
“Unlike Barcelona (6.91%), the yield recorded in Madrid (4.61%) remains far below the national average (6.10%). However, in both cases, they are the main hubs for investing in Spain thanks to their stability and high demand,” the expert states.
Pisos.com ranking: rental yield in provincial capital cities
Source: MiMub in Spanish
