An informative report from the Ministry of Consumer Affairs carried out in collaboration with the CSIC disproves the stereotype of the small landlord who rents out only one house: among private landlords (individuals), 52.8% own two or more rental properties, while 47.2% have only one. If legal entities, companies, and public bodies are also included, the share of “multi-landlords” rises to 60.8%, compared to 39.2% of small landlords. The document, based on rental income declared to the Tax Agency in 2023, concludes that «the figure of the small landlord is not the predominant one».
The analysis compares the weight of landlords with that of tenants: only 4.9% of the total population (or 9.3% of households) receive rental income, against 20.8% of people living in rented accommodation. The concentration of multi-owners is particularly high in large cities: Las Palmas (64.9%), Santa Cruz de Tenerife (64.6%), Palma (63.1%), Barcelona (60.8%) and Madrid (56.4%). Only Seville is an exception, with a slight majority of owners of a single home (53.2%).
The authors emphasize that in large urban markets the presence of multi-landlords is not a marginal phenomenon but a structural characteristic of the market. The rental housing stock grew by almost 700,000 units between 2016 and 2023 (from 1.9 to 2.57 million), and this increase has further strengthened the position of landlords with multiple properties, widening the gap compared to those who have only one. «Over time, instead of decreasing, the gap between those who have a single rental home and those who own several has widened,» the study concludes.
The majority are multi-landlords
«Among owners who are not legal entities, a slight majority — 52.8% — rent out two or more properties, compared to 47.2% who rent only one. If public and private entities are also included, 60.8% consist of owners with multiple properties.»
The figure of the small landlord is not predominant
«“The figure of the small landlord is not the predominant one,” the document states. […] “The common image of the small landlord with a single rental dwelling does not correspond to the reality of the market”».
Concentration in large cities
«The highest concentrations occur in island cities: in Las Palmas de Gran Canaria, 64.9% of owners have at least two rental properties; followed by Santa Cruz de Tenerife (64.6%), Palma (63.1%), Barcelona (60.8%) and Madrid (56.4%)».
Market growth and greater concentration
«The stock of rental homes has increased by almost 700,000 units in seven years. […] Over time, instead of decreasing, the gap between those who have a single rental home and those who own several has widened».
Reduced weight of landlords compared to tenants
«4.9% of the total population receives income from rental of main residences (5.7% of the adult population). […] This is a much smaller volume than that of tenants, who represent 20.8% of the total population or, alternatively, 20.2% of households».
The average rent price exceeds 1,200 euros and supply collapses in areas with limits. Barcelona, with 450 interested parties per apartment, leads the scarcity ranking, followed by Biscay with almost 200.
(ABC, Xavier Vilaltella, April 23, 2026)
When an apartment enters the rental market in Spain, on average 141 people express interest in occupying it within ten days of the announcement’s publication. Those who manage to secure it will pay an average monthly rent of 1,205 euros, a figure higher than a gross minimum interprofessional wage (1,184 euros in 2025) and far higher than the average mortgage payment (about 800 euros). This emerges from the latest edition of the Rental Observatory, relating to the first quarter of 2026, prepared by the Fundación Alquiler Seguro, which describes a market heading towards disaster.
Beyond the absolute data, the evolution is particularly worrying: in one year the number of candidates per listing has increased by 29 people and the average price of new contracts has risen by 5.1%. The problem has a strong geographic accent. Barcelona remains once again the province with the highest demand pressure, with 453 interested parties per rental, followed by Biscay (191), Guipúzcoa (155), Balearic Islands (147), Zaragoza (127), Álava (122) and Madrid (118). By price, the Balearic Islands lead the ranking with 1,676 euros per month, followed by Barcelona (1,644 euros), Madrid (1,606 euros), Guipúzcoa (1,494 euros), Biscay (1,311 euros), Malaga (1,279 euros), Valencia (1,159 euros) and Las Palmas (1,158 euros).
Leading the ranking are precisely the regions whose autonomous governments have declared tense zones (Catalonia since 2024 and the Basque Country since 2025) to apply rent caps provided by the housing law. This data reinforces the experts’ theses who have long warned that such a rule does not really contain price increases, while creating an additional barrier for new tenants in the form of a collapse in supply. In the Basque Country, for example, the number of interested parties per new contract rose from 53 two years ago to 168 currently after the declaration of tense zones.
The strong demand pressure
«When a property is put on the rental market in Spain, on average 141 people express interest in renting it within ten days of the announcement’s publication».
The average price and its growth
«The lucky tenant of the apartment will pay an average rent of 1,205 euros per month […]. The average price of new contracts has increased by 5.1%».
Barcelona leads in scarcity
«Barcelona remains the province with the highest demand, with 453 people interested in a rental contract, followed by Vizcaya (191)».
Counterproductive effect of rent caps
«The regions whose respective autonomous governments have declared some areas as housing tension zones […] in order to apply the maximum price cap provided by the housing law».
National supply collapse
«At the national level, the Rental Observatory estimates that by the end of 2026 the market will have lost 14,391 apartments, a drop of 2.1% that reduces the stock volume to 669,529 rentals, compared to 683,920 in 2025»
(Excerpt from the newsletter by Giuseppe Liturri)
