The supply of rental apartments in Spain will be reduced by 22,927 units throughout 2026, which represents a decrease of 3.35% compared to the previous year, while demand pressure has escalated to a historic record of 143 interested parties per dwelling in just ten days, according to the Rental Barometer for the second quarter of 2026 prepared by the Rental Observatory.
In detail, the report anticipates that the residential rental housing stock will go from 683,920 registered dwellings at the end of 2025 to 660,993 properties this year, which, according to the Observatory, confirms that the dynamic of product scarcity in rentals "has not yet found its floor".
The Barometer explains that this reduction in supply is due to the transfer of housing to other formulas, such as temporary, tourist, or room rentals, as well as properties that are destined for sale or remain unoccupied.
The study links this evolution, on the one hand, to the effect of regulation in areas declared as stressed, which continues to push housing out of the traditional residential market, and on the other hand, to extreme climatic episodes, such as the rains and floods of January and February, which have particularly impacted the supply in the peninsular south.
In this scenario, Catalonia anticipates a contraction in supply of 7.65%, to 94,947 dwellings, while the Basque Country is among the autonomous communities with the largest projected decrease for 2026, with a reduction of 16.16%. By provinces, Cádiz presents the largest projected drop, 29.42%, followed by Ceuta (-27%), Huesca (-24%), Guipúzcoa (-22.33%), La Rioja (-17%), Almería (-15.95%), and Navarra (-14.76%).
In absolute terms, Barcelona will be the province that will lose the most rental housing compared to the end of 2025, with 5,647 fewer properties, ahead of Cádiz (-4,533), Almería (-2,285), and A Coruña (-1,782). On the other hand, Salamanca leads the increase in supply, with a rebound of 17.5%, followed by the Canary Islands (+2.4%), Zaragoza (+1.21%), and Málaga (+0.59%).
DEMAND PRESSURE AT ALL-TIME HIGHS
The demand pressure already reaches a state average of 143 interested people per rental property in a ten-day period, compared to the 135 counted at the close of 2025. Barcelona leads this indicator with 418 contacts per property, followed by Vizcaya (196), Balearic Islands (160), Guipúzcoa (153), Álava (144), Valencia (138), and Madrid (136), far above the 15 contacts that the Observatory considers typical of "a balanced market".
The study also detects an "overflow effect" of demand from large capitals towards neighboring provinces, with high levels of pressure in Guadalajara (93), Toledo (90), Seville (90), Málaga (86), A Coruña (68), Alicante (67), Lleida (66), and Valladolid (55).
According to the Observatory, this behavior shows how demand shifts towards nearby markets as the available supply in large cities decreases. At the opposite end are Cáceres (17), Ávila (14), and Jaén (12), where demand remains within margins considered normal.
AVERAGE PRICE RISES TO 1,211 EUROS
The average rental price stood at 1,211 euros per month in the second quarter of the year, 2.28% more than at the close of 2025 and 4.85% more year-on-year, although the Observatory detects a gradual moderation in the pace of rent increases.
The number of provinces with an average rent above 1,000 euros per month now stands at 12. Balearic Islands (1,678 euros), Barcelona (1,646 euros), and Madrid (1,637 euros) lead the national ranking, followed by Guipúzcoa (1,485 euros), Málaga (1,307 euros), Vizcaya (1,305 euros), Las Palmas (1,176 euros), Valencia (1,165 euros), Santa Cruz de Tenerife (1,131 euros), Álava (1,038 euros), Navarra (1,028 euros), and Alicante (1,022 euros).
IMPACT OF "TENSIONED AREAS"
The Observatory maintains that, three years after the entry into force of the Housing Law, the "tensioned areas" continue to shape the evolution of the rental market. In Catalonia, supply will once again register a minimum, while the Basque Country notes one of the largest drops in supply predicted for 2026 and Navarra consolidates an average price above 1,000 euros per month.
Furthermore, the province of A Coruña is experiencing an increase in demand pressure after the declaration of its first tense municipality, while in other territories where these figures are being processed, such as Las Palmas or Asturias, the report observes a reduction in supply linked to regulatory uncertainty.