Property portal IDEALISTA reports rentals in Barcelona plummeted by 14% following the approval of Spain’s new Housing Law of 2023

Raymundo Larraín Nesbitt, July, 15. 2024

Marbella-based Larraín Nesbitt Lawyers has over 21 years' taxation & conveyancing experience at your service. We offer a wide range of over 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain. You can review here our client’s testimonials.

15^th of July 2024

IDEALISTA reports on its latest metrics that rentals on offer in Barcelona have plummeted by 14%. The same story applies to the remainder of the region of Catalonia.

We have repeatedly been warning since 2021, that the approval of Spain’s new Housing Law of 2023 was going to have the opposite effect that was sought by the Spanish government.

Instead of sharp falls in rental prices, landlords – afraid of the interventionism in the new housing law – massively pulled out their properties from the rental market causing a sharp spike in rental prices (fewer offers available and an ever-increasing demand results in higher rental prices).

This is exactly the opposite effect that was desired by lawmakers when they enacted the new Housing Act.

Unfortunately, as explained in multiple of our articles and blog posts, this was highly foreseeable.

In effect, Spain’s new Housing Law has devastated the rental market, driving rental prices sharply up to all-new highs to the detriment of weak social collectives that (desperately) crave protection from Authorities against unabating rental prices.

The road to hell is paved with good intentions.

Available services from LNA:

At Larrain Nesbitt Abogados (LNA) we have over 21 years’ experience assisting clients buying, selling, or renting properties. We can also offer you a competitively priced accounting service to file your landlord taxes every tax quarter nationwide. We are also specialized in immigration & residency visas. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on our UK line (+44) 0754 3838 218, or Spanish line (+34) 952 19 22 88, or by completing our contact form to book an appointment.