What is the rental price benchmark?
It is clear that when we talk about housing, one of the hottest topics today is rental. There are many people who live this way in our country. That is why it is always interesting to have some basic notions on this topic that may well be applied to our case or that of someone we know or a family member. In this sense, there are countless concepts related to rent. However, in this article we want to focus on the rental price index. Let’s get started!
Transparency for the rental market
The objective of the Rental Price Benchmark is to provide transparency to the market. Therefore, when we refer to it we do so as an indicator. Its existence aims to respond to one of the most curious characteristics of the rental market in Spain: the lack of official statistics on prices. The fact that this data is not available has meant that over time the level of transparency in the rental market is quite low. Something counterproductive for those who live under this model since they do not have basic information patterns.
A database that includes 11.2 million properties
Thus, the first objective of the system is to be able to offer an information base with verified data that allows us to know the current market situation. The objective is to be able to guarantee greater transparency and be able to establish metrics on the evolution of prices. The index can be consulted on the website of the Ministry of Transport, Mobility and Urban Agenda since June 2020. The information presented comes from a database that includes a total of more than 11.2 million real estate properties that have reported rental income during this time since 2015.
What information do you provide us?
This indicator provides us with real estate data. They appear classified according to whether they are collective, single-family or rural housing. In addition, it provides us with the following information.
- Number of rental homes.
- Rent (€/m2/month).
- Amount (€/month).
- Surface (m2).
It is interesting to remember that until the creation of this index there were no official statistics on this market. The only possible sources came from real estate portals.
Do you have more questions? We will be happy to help you resolve any issue.