The Build to Rent market in Spain is experiencing exponential growth in 2 years. Activum Real Estate Consulting has published an analysis highlighting the main trends in this segment, key players and investment opportunities in a sector.
BTR, which focuses on the construction of homes designed specifically for long-term rental, has seen an increase in demand and investment. The analysis points to a notable distribution of long-term rental housing across the country, with Madrid leading the way with 5,859 homes, followed by Andalusia with 2,484 and the Valencian Community with 1,861. Catalonia also shows a considerable figure with 1,123 homes available.
In terms of growth, the BTR market in Spain has increased by 27% since 2022, reaching more than 11,000 available homes. Madrid dominates this market with 46% of the total, evidencing an increase of 115% compared to the previous year. Locations such as Torrejón de Ardoz have achieved more than 10% of the total BTR supply, indicating a remarkable expansion of this housing modality in the region.
Andalusia has seen a significant increase from 200 homes available in 2022 to 1,775 today, with 49% of homes concentrated in Malaga and 26% in Seville. The Valencian Community has registered a 46% growth since 2022, with more than 1,400 BTR homes being marketed, showing an attractive market for long-term rental investment.
In Catalonia, although it has seen a 30% decrease in the number of BTR homes, it continues to be a significant player in the market, especially in Barcelona, where 23% of the homes available in this modality are located.
The evolution of prices for one-, two- and three-bedroom homes between 2022 and 2024 shows an increase in Madrid and the Valencian Community, while decreases are observed in Catalonia. For example, the average price of a one-bedroom home in Madrid has increased from 820 euros in 2022 to 1,100 euros in 2024.
In terms of BTR market players, Vivenio leads with approximately 25% of the total available homes. It is followed by Be Casa Essentials (Greystar) with 10% and Vivia Homes with 7%. Other notable players include Stay Homes with 7% and Bialto and Rental Homes (Neinor Homes) with 5% each.