Rental prices in Barcelona are once again the protagonists of a chronicle that, at some point, will be studied as a spiral of nonsense. Now, a latest report confirms what we already knew: that the price of rent is soaring to the point that the city already contravenes the recommendations of the UN regarding the price of rent.
This is according to a study by the Institut de Recerca Urbana de Barcelona (IDRA), which shows that almost two thirds of Barcelona’s tenants spend more than 30% of their monthly income on rent, exceeding the limit recommended by the UN to ensure the financial stability of households.
This phenomenon, known as “economic overstretch”, is aggravated in districts with high demand and among vulnerable groups, leaving numbers that give a dire perspective of the housing situation in the city.
Two thirds of Barcelona’s tenants over the limit.
The IDRA report reveals that 64.8% of tenants in Barcelona spend more than 30% of their income on rent payments, a percentage that rises to 69.7% in Madrid.
In addition, 40% of renter households in Spain spend more than 40% of their monthly income on housing and associated expenses, an even more alarming figure in large cities, where it exceeds 50%.
Which are the most expensive neighborhoods?
This “economic overexpenditure” varies from district to district. While the cheapest are Nou Barris (767.11 euros on average), Horta-Guinardó (890.63 euros) and Sant Andreu (895.22 euros), prices soar in L’Eixample (1,264.34 euros), Les Corts (1,381.64 euros) and Sarrià-Sant Gervasi (1,639.52 euros). The latter, the most expensive district, practically doubles the average cost of rent in Nou Barris.
A city without a home
The problem is not only the price you pay on your home, but when that price forces you to leave your home. According to the report, more than 60% of tenants in Barcelona have changed housing in the last five years, often forced by price increases or the impossibility of renewing contracts.
This phenomenon especially affects young people and families with children, making clear the growing residential insecurity.
The study also points out that many rental policies in recent years have prioritized the interests of landlords over those of tenants, allowing them greater flexibility, which has resulted in greater instability for tenants. The significant flight of landlords to temporary rentals is a good example of this.
According to the UN, affordable housing does not exceed 30% of income, but in Barcelona two-thirds of tenants already pay more than that.