Sánchez sinks rental market: nearly 400,000 homes vanish since 2021

Rental supply in Spain has fallen by 390,443 homes since 2021, to 660,993 expected by 2026, while the average price has risen from 819 to 1,211 euros. Catalonia accounts for the largest decline: over 120,000 fewer homes, down 56.4%.

## Rental supply shrinks: 390,443 fewer homes
Since 2021, the Spanish rental market has lost **390,443 homes** on offer. The **Rental Observatory** puts the decline at **37.1%**: from 1,051,436 units to 660,993 expected by 2026. This is no minor adjustment. It is a portion of the housing stock that no longer appears on listing sites, is redirected to other uses, or simply sits empty because its owner does not want to rent it out.

The average price has moved in the opposite direction. Over the same period, it has gone from 819 euros to 1,211 euros, up 47.9%. Supply falls and rent rises. That combination explains why the rental problem has become a daily concern for tenants and landlords alike.

## Catalonia: from 217,678 to 94,947 rental homes
Catalonia is the most striking case. The region has lost more than 120,000 homes from the rental market since 2021. The Rental Observatory's series goes from **217,678 units** to **94,947**, a drop of **56.4%**. No other major region shows such a collapse in the data.

Rent control in more than 200 Catalan municipalities marks a turning point. The year before it was applied, supply stood at 154,663 homes. Since then it has fallen by 38.6%. Critics of the measure argue that price caps discourage renting and push part of the supply toward tourist rentals or simply out of the market. It is a disputed thesis, but the figures handled by the Rental Observatory point in that direction.

## Madrid also falls, though less than Catalonia
The Community of Madrid does not apply the same rent control policy. Even so, its rental supply has also declined. In 2021 there were **216,579 homes** available; by 2026 the forecast is **150,244**, a decrease of **30.6%**. The absolute drop is 66,335 units.

The comparison between the two regions is inevitable. In 2021 they started from similar levels: 217,678 in Catalonia and 216,579 in Madrid. Catalonia has lost 122,731 homes; Madrid, 66,335. The difference is notable. In the latest data, while Catalonia fell from 2024, Madrid grew slightly: from 149,928 to 150,244 units.

## Rising prices and measures under debate
The government of Pedro Sánchez has presented anti-eviction decrees, a helpline, and a website with social housing listings as solutions. These measures coexist with a **37%** drop in rental supply since 2021 and year-on-year price increases. The Housing Law and rent caps are cited among the causes of homes being withdrawn from the market.

One figure sums up the mismatch: the average price has risen from **819** to **1,211 euros** while 390,443 homes disappeared from the rental market. For those looking for a flat, the result is less supply, more competition, and higher rents. For those who own a property, the decision to rent it out has become more uncertain.

Housing is a matter of money and rights. Any decision about renting, buying, or investing should be discussed with a professional and based on local data before making a move.