Room rentals in Spain sharply increased, costing more than mortgages

The cost of renting a room in Spain has increased by 11.7% in 2024, reaching an average of 520 euros per month, making it significantly more expensive than paying a mortgage. This rise in rental prices for shared rooms is driven by high demand, particularly in major cities like Barcelona, Madrid, and Bilbao, where prices are highest. The average room rental now consumes 23% of a tenant's salary. The trend of rising rental costs is impacting young people and students, who are the primary renters of shared rooms. Some regions saw increases of over 20%, while a few cities experienced slight price decreases.