Housing Crisis Deepens: Madrid Rents Soar Amidst Supply Shortage

Madrid, Spain – The escalating cost of housing, both for rent and purchase, continues to be a pressing concern for residents, as highlighted in a recent podcast clip featuring real estate expert Joaquín Caraballo. The discussion centered on the dramatic increase in prices, with a focus on the Spanish capital. According to the conversation, a three-bedroom apartment of 70-80 square meters in Madrid can now command a monthly rent of 1,250 euros. This figure, described as significantly higher than in previous years, underscores the affordability crisis facing many. Experts attribute the surge in prices to a fundamental imbalance in the market: supply is far outstripped by demand. “While demand remains high, the availability of housing, both for rent and sale, is very limited,” stated one of the speakers. This scarcity, combined with rising land and construction costs, contributes to the upward trajectory of property values. The discussion also noted that not only rental prices but also property sales have seen substantial increases in the last two years, with even modest homes now reaching prices of 400,000 euros. The consensus is that as long as demand continues to outpace supply, a decrease in prices is unlikely.

Diario ABC

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