MADRID, 24 Jun. (EUROPA PRESS) -

The price of vacation rentals in Spain grew by 11% in the first quarter of the year compared to the same period in 2022, according to data from the National Institute of Statistics (INE), collected by Tinsa.

This evolution reflects a greater tension in the market that is consistent with the recovery of foreign tourism observed in the last year.

The supply of housing for tourist rental is estimated at more than 305,100 units throughout the national territory. 85% of them are located in provinces with a coastline, 80% if Barcelona is excluded, which brings together a high volume of urban tourism and not exclusively beach tourism.

The geographical concentration of tourist rental housing is high. Around 45% is distributed between the archipelagos (22%), Malaga (12%) and Alicante (11%).

According to Tinsa, the number of rental homes registered a contraction as of 2020 and pre-pandemic levels have not yet been recovered, mainly due to the reduction in supply in Catalonia, the Valencian Community and the Balearic Islands, which offsets the increase experienced. on the North Coast, Canary Islands and some provinces of Andalusia.

For the senior consultant of the Tinsa Studies Service, Andrea de la Hoz, "tourist rentals allow higher returns to be obtained than traditional rentals, which is reflected in the purchase and sale prices, regardless of whether these vacation properties are used own or for tourist rental".

On the other hand, the demand for vacation rental housing is 40% national and 60% foreign. The foreign demand is 80% of European origin.

The evolution of the number of travelers who resort to rental apartments has reached the maximum of 2019, although with different dynamics between residents in Spain and residents abroad.

In addition, residents in Spain reached an all-time high in the summer of 2021, while residents abroad needed another year to register the most marked boost in the summer of 2022, still not exceeding 2019 levels.