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RENTING

Where can I rent a studio for a good price in Spain in 2024?

Want to rent your own place in Spain but not sure if you can afford regular apartment prices? This breakdown of the monthly rental costs for studio apartments in Spain's 50 main cities will help you know where to get a good deal.

Published: 17 January 2024 09:28 CET
Updated: 20 January 2024 07:03 CET
Where can I rent a studio for a good price in Spain in 2024?
Find out where you can rent a studio in Spain without breaking the bank. (Photo by Anthony WALLACE / AFP)

In Spain, it’s seen as a luxury to be able to afford to live on your own in a studio, rather than in a flatshare. Many young people still live at home because they can’t afford to move out, while others have no choice but to share accommodation with others.

A report by NGO Ayuda en Acción in 2023, revealed that 64 percent of young people between the ages of 18 and 34 in Spain continue to live with their parents.

Recent data from property portal Idealista shows that the average cost of a room in a shared flat was €380 for November 2023 compared to an average of €700 a month for a studio. This means that living alone in Spain is on average 84 percent more expensive than sharing. 

The price of renting a studio in Spain increased by 12 percent last year while renting a room rose by 9 percent. 

To be clear, a studio apartment is a flat consisting of a single large room serving as bedroom and living room and often kitchen, with a separate bathroom. They’re cosy but they can still serve as comfortable homes in central locations for people wanting independence.

READ ALSO: What will happen to rents in Spain in 2024?

Despite the difference in prices, the supply of studios in Spain has been reduced by 7 percent over the past year, while demand has increased by 39 percent. The supply of rooms, on the other hand, has grown by 38 percent.

If you want to live on your own in Spain rather than a shared property, it’s important to consider where to base yourself, so that you can make sure your budget will cover your rent. 

Thankfully, there are still many places in Spain where renting a studio is more affordable than others.

The most affordable cities in Spain to rent a studio

The cheapest city to rent a studio in is Ciudad Real at €350 per month, followed by Lleida in Catalonia (€390), then Palencia in Castilla y León and Teruel in Aragón (both €425). Coming in joint fifth place are Caceres in Extremadura and Oviedo in Asturias (€430).

The next five cheapest places to rent a studio are Cuenca and Murcia (€435), Jaén, Salamanca and Zamora (€450).

The most expensive places in Spain to rent a studio

Surprisingly, the most expensive city to rent a studio in Spain isn’t the capital of Madrid, it’s the Basque city of Vitoria i Gasteiz at €1,000 per month.

This was followed by Barcelona at €960, Valencia at €935, then Palma de Mallorca, Madrid, San Sebastián and Bilbao at €850.

The next four most expensive places were Málaga (€760), Alicante (€750), Pamplona (€720) and Las Palmas de Gran Canaria (€700). 

The difference in price between renting a studio vs renting a room

The biggest difference between rooms and studios was again in Vitoria i Gasteiz, where studios are 176 percent more expensive. They were followed by Zamora (165 percent more expensive), Badajoz (151 percent), Valencia (147 percent), Albacete (140 percent) and Segovia (131 percent).

The smallest differences were found in Lleida (studios are only 37 percent more expensive than rooms), Santa Cruz de Tenerife (51 percent) and Murcia (55 percent).

Here is a breakdown of average monthly rents for estudios (studios) compared to habitaciones (rooms) in Spain’ 50 provincial capitals.

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For members

PROPERTY

How to contest the cadastral value of your Spanish property

The cadastral value and cadastral reference of a property in Spain affect various factors including how much yearly property tax and inheritance tax you'll pay. Here's how to change the valuation Spanish authorities give your home.

Published: 14 June 2024 09:20 CEST
How to contest the cadastral value of your Spanish property

When it comes to taxes, everyone wants to know if there are ways to pay less. While it’s not always possible, there are certain factors that affect particularly taxes associated with your Spanish property – namely the cadastral value and the cadastral reference. But, can they be changed or rectified?

What is the cadastral value?

The cadastral value is applied to all properties in Spain. It’s the value applied to your property by the Ministry of Finance or Hacienda and serves as a tax base to determine how much IBI tax or Impuesto sobre Bienes Inmuebles you pay for example. This is a yearly tax for all those who own property in Spain.

READ ALSO: What is Spain’s IBI tax and how do I pay it?

The value will depend on the size of your property, the condition it’s in, the year it was built and the cost of construction, among other factors.

It differs from the cadastral reference, which is an estimate of the market value of a property and is used as a reference for the real estate market. It is also used as a tax base for inheritance and property transfer tax.  

How is it determined?

At the beginning of each year, the cadastral value of homes is reviewed, and as a result, it can increase or decrease. This is why your IBI bill can increase or decrease too. As a general rule, the cadastral value is usually much lower than the market price, but this is not always the case.

How do I find out the cadastral value? 

To know the cadastral value of a property, you must first know the cadastral reference. Then you can find the value in the corresponding public records online. You can find this reference on your IBI bills, as well as on your property deeds.

Once you have this you can go to the electronic headquarters of the Cadastre, and click on ‘reference value’. There you will find all the information about the cadastral reference and the corresponding cadastral value.

Even if you’re not the owner of a property, but want to find out the cadastral value of a property you’re considering buying, you can find it out here.

Can I change the cadastral value of my home?

Yes, it is in fact possible to change the value. If you believe that the cadastral value of your property is too high with respect to the market price of your home, you can request that it be reduced.

You may want to do this in order to lower your IBI bill or if you want to sell your property at a lower price than the market value.

How do I lower the value?

If you believe that you have a case for changing it, you can make a claim to the General Directorate of Cadastre, overseen by the Ministry of Finance. There are two different claims you can make:

  • The procedure for correcting discrepancies
  • The procedure for rectification of material and arithmetic errors.

Procedure for correcting discrepancies

This option is typically used when there is a large difference between the market price and the cadastral value of a property, as well as when there are errors or false data about the characteristics of your home.

To do this, you must go to the Cadastre office in your municipality or apply online at the Cadastre Electronic Headquarters.

Procedure for rectification of material and arithmetic errors

The second option is used when there are errors or incorrect urban planning information, which affects your home. Again you can do this in person or online. In this case, it will have a retroactive effect. If you have paid too much IBI in the past, then it should be returned to you if the application goes in your favour.

Can I change the cadastral reference of my home?

If the reference value of your home is higher than the market value, then you may be wondering if you can change the reference in order to lower your tax base.

Unfortunately, you cannot request changing this in the same way as you can with the cadastral value. But, the good news is that there is a way to challenge it indirectly.

To do this you will need to request an appraisal from a company approved by the Bank of Spain. If the result of this turns out to be lower than the reference, you can try to rectify your self-assessment tax return, providing the appraisal as evidence that you should be on a lower tax base. As mentioned above, this will only affect certain taxes like inheritance or property transfer. 

In order to approve this, the tax office will need a report from the General Directorate of the Cadastre who may be able to rectify the reference and provide a report to settle the matter.

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