Overview

• Long-term rental listings have fallen 17% nationally in two years, while demand has climbed 79%, according to Idealista.
• Average competition per listing reached 35 applicants between January and March 2025, with Córdoba seeing interest surge 418% since 2023.
• Short-term holiday rentals jumped 25% in the first quarter of 2025, accounting for 14% of listings and draining the long-term market.
• Wage growth has lagged far behind rent increases, as seen in Valencia where rents rose 10.3% last year compared to a 2.5% salary gain.
• Several regions have seen rent hikes over 30% since 2023, including Segovia (39%), Valencia (35%) and Madrid (31%), while a handful of areas experienced modest supply recoveries in early 2025.