The strange case of Cuenca: the only provincial capital that has not exceeded the historical maximum rental price in 2025.

Rental prices are relentless, except in Cuenca . While the map is tinged with new records in 48 provincial capitals, the city of Castilla-La Mancha is the only one that has not reached new highs so far in 2025. Its peak was recorded in June 2022, when renting an 80-square-meter apartment cost €680.80 per month . This July, that same rent is €586.40 , a 13.87% decrease. The data comes from the Fotocasa Real Estate Index, which has measured the price of rental housing in Spain since 2006.

The case of Cuenca is very unique within the Spanish rental market. "We must keep in mind that it is one of the capitals with the least demographic growth in recent years, and therefore, the pressure of demand on supply is less," explains María Matos , Director of Research and spokesperson for Fotocasa. Furthermore, it has one of the lowest prices in the country and its year-over-year variation is negative, reflecting that " supply is sufficient to meet demand."

On the other hand, the peak it reached in 2022 was a consequence of a rise in interest rates and a shift in demand from purchasing to renting. However, it has remained stable since then—with a difference of less than €1.50 per square meter between its current price and the peak. Therefore, Fotocasa does not expect it to reach new highs in the short term.

The situation contrasts with the rest of the country. In July, 22 capital cities reached new record prices. Barcelona remains the most expensive, at €1,873.60 per month for an 80-square-meter apartment, followed by Madrid at €1,788 . Palma de Mallorca also set a new record at €1,520 , and Valencia at €1,324.80. Las Palmas de Gran Canaria (€1,268.80), Vitoria (€1,124.80), Santa Cruz de Tenerife (€1,120), and Cádiz (€1,004) are also above €1,000.

In the same month, other capital cities such as Santander, Zaragoza, Oviedo, Salamanca, Valladolid, Logroño, Castellón de la Plana, León, Ávila, Lleida, Ourense, Cáceres, Ciudad Real, and Badajoz also recorded record prices per square meter.

Nationally, the average price per square meter stood at €14.38 in June, a 14% year-over-year increase, equivalent to €1,150 per month for an 80-square-meter apartment. "We are witnessing one of the most critical moments for the rental market," Matos noted. This month, 10 capital cities reached new record prices. Among the highest were Malaga at €16.27 , Alicante at €14.02 , and Segovia at €12.50 .

In addition, six capital cities reached their highest prices in May, and four of them reached their peak in April. Among these is Girona , which maintains one of the highest prices three months later, with rent at €1,152 in July, despite being 11.82% cheaper than its previous peak (approximately €1,306.40). This is followed by Zamora , Almería , and Huelva .

In the case of Seville , another of the most expensive capitals to rent, the price in July reached 14.31 euros per square meter. However, this is only 0.07% less than the peak price in March of 14.32 euros, which represents a monthly cost of approximately 1,145 euros for an 80-square-meter apartment.

On the other hand, five provinces started the year with record rental prices. In January, Bilbao and San Sebastián —both in the Basque Country—reached €16.97 and €20.76 per square meter, respectively. San Sebastián now remains in third place among cities where the price per square meter is most expensive, despite being 2.89% below its price at the beginning of the year. In February, Pamplona (€13.52), Toledo (€11.52), and Lugo (€8.49) joined the list.

Autonomous communities in record

Fotocasa's Research Director points out that this is the first time that prices in all the autonomous communities have reached historic levels. "This situation is due to an increasingly pronounced structural imbalance between very limited supply and sustained, growing demand ," Matos explained.

In the last month alone, nine regions reached a new record. Of these, five are already above the national average, with Madrid leading the list with an average price of €1,724 for an 80-square-meter apartment, followed by the Balearic Islands with a monthly rent of €1,520.80, and Catalonia (€1,632.80).

In June, four regions ( Aragon, Castile and León, Galicia, and Murcia ) had prices below the national average. In May, two more regions ( Andalusia and the Canary Islands ) did so. This figure is particularly notable in the Canary Islands, which maintains one of the highest current prices, despite being 7.23% below its ceiling (€15.07 per square meter). And, in January, La Rioja and Navarra reached record highs.