Buy housing for rent offers returns close to 6%
The price of housing will rise up to 10% in large cities
If the revaluation of the property is included, the return would reach 9% in the large cities.
Clear example of residential recovery is the rental market. Currently, the average price of homes for rent in Spain is 680 euros, for a property of between 80 and 90 square meters, almost 10% more than six months ago, according to Servihabitat Trends, the research platform and Servihabitat market analysis.
By locations, the Community of Madrid recorded increases of more than 14% in the average price of rental housing, followed by the Balearic Islands, with increases of 9.9%.
The forecast of Servihabitat is that the trend continues with an increase of between 1.5% and 2% in the first semester. "We believe that with a positive economic environment, with optimistic projections for the next 18 months, and maintaining the increase in demand in the face of a lack of supply, it will put pressure on prices," corroborates Samuel Población, of CBRE.
After raising the rental price almost 10% in recent months, it is expected that the upward trend will continue
Despite the increase in prices, the number of months it takes for a house to be rented continues to fall, currently standing at just over a month and a half, compared to the more than two months it entailed in March, according to Servihabitat. "However, the behavior differs according to the zones: in Andalusia, the Community of Madrid and the Community of Valencia the turnover has increased, while in Catalonia and the rest of the communities the time it takes to rent a house has experienced a slight increase" , explain from Servihabitat.
As for the profitability of buying a house to use for rent, the Spanish average stands at 5.9%, which represents a moderate increase compared to the last months.
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