11/17/2021 at 05:22 CET
Renting a home compensates more than to buy it only in eleven of the 107 most populated cities in Spain: San Sebastián, Getxo (Vizcaya), Sant Cugat del Vallès (Barcelona), Marbella (Málaga), Palma de Mallorca; Alcobendas, Majadahonda, Pozuelo de Alarcón, in Madrid; Barcelona, La Coruña and Santiago de Compostela, according to a study by the appraiser UVE Valuations.
This statement is based on the fact that the municipalities with higher sales prices generally have higher quota percentages against rent.
To carry out this analysis, UVE Evaluations has calculated the mortgage payment that corresponds to a loan of 80% of the value of the offer, with a duration of 24.58 years and an interest rate of 1.52%, taking as a reference the June value published by the Spanish Mortgage Association and the prices of the Idealista real estate portal for sale and rent.
From there it determines that a quota greater than 85% is a fairly reliable indicator that probably rent is a better option in a specific municipality; a percentage that results from dividing the unit mortgage payment by the unit rent.
The bottom line is that best options for potential tenants are: San Sebastián (110.2%); Getxo (Vizcaya) with 98.7%; Sant Cugat del Vallès (Barcelona) with 95.6%; Marbella (Málaga), with 92.2%; Palma de Mallorca (90.1%); Alcobendas (89.6%), Majadahonda (88.9%) and Pozuelo de Alarcón (88.3%), in Madrid; Barcelona (87.8%); La Coruña (87%) and Santiago de Compostela (85.2%).
In cities whose percentage is between 85% and 75%, it is also considered that the option of renting is also more favorable. These are: Fuengirola (Málaga), with 83.8%; Orihuela (Alicante), with 83.8%; Rivas-Vaciamadrid (Madrid), with 83.3%; Madrid (83.3%); Cádiz (82.1%), Estepona (Málaga), with 81.9%; Ourense (80.6%) and Bilbao (80.4%).
Next, Pamplona (79.7%), Pontevedra (79.4%), Gerona (78.8%), Vitoria (78.5%), Mijas (Málaga), with 78.3%; Vélez-Málaga (Málaga), with 77.4%; Torrevieja (75.5%) and Benidorm (75.5%) in Alicante; and Las Rozas de Madrid (75.2%).
The study indicates, however, that the low rental supply can mean that, in many cities, the current suitability to rent changes, in a short period of time, to purchase as the best option.
It is the case of Barcelona, Madrid, Bilbao, Getxo, Sant Cugat, Alcobendas, Majadahonda, Pozuelo, Marbella and Las Rozas, where the rise in rental prices is considered very predictable.
It could also occur, although to a lesser extent, in Palma de Mallorca, Pamplona and Vitoria.