How hard it is to find a long-term rental in each city

Terms used

• Fianza — The fianza is the deposit you pay the landlord at the start of a lease, held as security.
• Aval — The aval is a bank guarantee that covers your rent if you fail to pay.
• Seguro de impago — The seguro de impago is an insurance policy that pays the landlord if the tenant stops paying rent.
• NIE — The NIE is the identification number Spain gives to foreigners.

Key rules

• Fianza: The legal deposit is 1 month's rent.
• Extra guarantee: Any additional guarantee beyond the deposit is capped at two months' rent on a standard habitual-residence lease.
• Income: Landlords commonly want income of approximately three times the monthly rent.
• Speed: In tight cities, good listings can go within days, so have your documents and reservation money ready.

Competition, supply and timing figures are rough estimates for 2024–2025, so check current conditions in your city on live listings and with local agents.

Availability is often the real barrier

In the most popular cities, the question is not "can I afford it?" but "can I get one?". Competition, the number of flats on offer, landlord demands and the conversion of flats to tourist use all differ by city. Plan around that before you pick where to live.

Which cities are tight

Madrid, Barcelona, Valencia, Málaga and Palma are the tightest. A well-priced listing there can draw dozens of contacts, and many go within days. In the hottest areas they can go in 24 to 72 hours.

Smaller and interior cities are slower and easier. If your work lets you choose, a smaller city will usually get you a flat faster.

The cities people most want to live in are often the hardest to search in. Good weather, jobs and a big expat community bring more tenants to fewer flats.

Why there are so few flats

The number of long-term listings has fallen sharply since about 2019, by 30% or more in major cities. Barcelona and Madrid are especially thin. Three causes stand out:

• Owners switch to tourist or seasonal rentals, which can pay more.
• Owners sell instead of letting.
• Owners fear new regulation.

The 2023 housing law has not brought supply back.

Tourist flats and historic centres

Tourist flats take up far more of the stock in historic centres than in the city as a whole. In Sevilla, Málaga and Valencia, the centres can be 15% to 25% or more tourist flats. Málaga is over 10% in the centre but only a few percent citywide. Palma has a large number, including unlicensed ones.

If you want a central flat, ask whether it is likely to be taken quickly or turned into a tourist let. You will often find more long-term options a few streets or a metro stop away from the centre.

How long it takes

In a tight city, expect about 2 to 8 weeks of active searching. If you have no Spanish payslips or guarantor, it can take 1 to 3 months. This is a rough guide, not an official figure.

What matters most is speed. Set up alerts, contact new listings the same day and have your papers and reservation money ready to send at once.

What landlords ask for

Landlords set their own demands, so they vary. Most want proof of income and often ask for:

• ID or passport with your NIE
• your last 3 payslips and an employment contract
• your latest tax return
• bank statements and a reference from a previous landlord

Many want income of approximately three times the monthly rent.

A landlord can also ask for an additional guarantee on top of the deposit, but it is capped at two months' rent on a standard habitual-residence lease. In practice some ask for a bank guarantee (aval) or several months in advance. Check what is being asked before you agree.

If you have no Spanish payslip

You still have options. You can offer:

• a foreign or remote-work contract with payslips
• savings shown in bank statements
• a Spanish guarantor
• a rent-default policy, the seguro de impago, from an insurer
• a bank guarantee

Offering extra months up front can also help, but keep it within the cap above.

Use the documents list, timeline and checklist below to prepare.

Timeline and deadlines

• Gather your documents, guarantor or insurance and payment for a reservation: before you start searching

• Respond to good listings and send your documents: within days, since good listings can go in 24–72 hours

• Find and secure a flat in a tight city such as Madrid, Barcelona, Valencia, Málaga or Palma: typically 2–8 weeks of active searching

• Find and secure a flat without Spanish payslips or a guarantor: often 1–3 months

• Pay the deposit (fianza) of 1 month's rent and any extra guarantee: when you sign; extra guarantee is capped at two months' rent

Documents you need

• ID or passport, together with your NIE (foreigner identification number).

• Your last 3 payslips.

• An employment contract. If you work abroad or remotely, a foreign or remote-work contract with payslips is usually accepted.

• Your latest income tax return.

• Recent bank statements showing savings or income, useful if you have no Spanish payslip.

• A reference from a previous landlord.

• A bank guarantee (aval), a Spanish guarantor or a rent-default insurance policy (seguro de impago), if the landlord asks for extra security.

Checklist

• Compare the city's competition before choosing: Madrid, Barcelona, Valencia, Málaga and Palma are tight, while smaller interior cities are quicker.

• Ask whether a flat in a historic centre is likely to be taken or converted to tourist use, as tourist flats are a much higher share there.

• Check that your income is about three times the monthly rent.

• Prepare your ID or passport, NIE, last 3 payslips, employment contract and bank statements before you view.

• Line up a Spanish guarantor, a bank guarantee or a seguro de impago if you have no Spanish payslip.

• Confirm the deposit is 1 month's rent and that any extra guarantee is no more than two months' rent.

• Keep money ready to pay a reservation straight away.

Asking prices are not what people actually pay

• Rents: listing price versus official rent: In tight rental markets like Madrid, Barcelona and the Balearics, current asking rents for new leases can be 10–30% above official rent figures, which are built from tax data on declared leases. Example: a flat listed at €1,300 a month may sit in a market where official data show about €1,000 to €1,100. Official figures include older, cheaper contracts, while listings show only new ones. Use official rent figures only as a rough guide. Budget from current listings in the area you want, not from the official average.

• Rents: listing price versus signed rent: In big cities like Madrid, Barcelona, Valencia, Málaga and Palma, flats usually sign within 0–5% of the asking rent, often at the full ask. Example: a €1,300 listing will probably close at €1,235 to €1,300. Expect more room, roughly 5–10%, on older or poorly presented flats, long-empty listings, longer contracts and smaller towns. Do not count on a big discount in a hot city. Be ready to accept the asking rent quickly, and in Barcelona's capped areas check the legal cap, which limits the rent whatever the listing says.

• Purchases: listing price versus recorded sale price: Homes for sale usually sell 5–15% below the listing price, because buyers negotiate. Example: a flat listed at €300,000 may be recorded at €255,000 to €285,000. The gap is typically smaller in hot markets and larger in slow, rural ones. Make an offer below the ask, especially in slow markets. When you compare with notary or registry prices, remember they cover different homes, so the match is never exact.

Frequently asked questions

Will I find a flat faster in a smaller city?

Usually yes: Smaller and interior cities are quicker than Madrid, Barcelona, Valencia, Málaga or Palma. In the tight cities, good-value listings can draw dozens of contacts and vanish within 24–72 hours in the hottest areas.

Why are there so few flats for long-term rent in the historic centres?

Many flats there are used as tourist lets. In Sevilla, Málaga and Valencia centres, tourist flats are often 15–25% or more of the stock, and in Málaga's historic centre over 10%. Look slightly outside the centre for more choice.

Will the 2023 housing law bring more flats onto the market?

No, the 2023 housing law has not brought more long-term flats onto the market so far. Listings in big cities have fallen by 30–50% or more since about 2019, and Barcelona and Madrid are especially thin. Plan for a competitive search rather than waiting for supply to improve.

Can I rent without a Spanish payslip?

Yes, but it can take longer, often 1–3 months. Offer a foreign employment contract and payslips, savings and bank statements, a Spanish guarantor, or a rent-default insurance policy (seguro de impago). Offering several months in advance also helps.