Bankinter | According to data from the Internet real estate portal Idealista, rental prices rose a little more than 8.4% in December compared to the same month in 2021. This compares to an increase of 7.3% year-on-year in November. On a month-on-month basis, it was up 1.1% in December.
Analysis team’s view: The increase in rental prices is in line with the CPI we estimate for 2022 (8.4% on average), although it should be noted that it only refers to new leases. Revisions of existing leases are limited to 2%. This is in fact part of the reason for the increase. Landlords try to stay ahead by raising prices from the beginning of the contract to forestall the impact of a subsequent freeze. Another support for rental prices in the coming months will be the increase in demand, given the greater difficulties in accessing home purchases due to higher financing costs and a lower rate of household savings.