The average cost of long-term housing rentals in Spain reached a historic high of EUR15 per square meter per month in April 2026, according to the Idealista portal.
According to analysts, rents have risen by 5.2% over the past year. However, the growth rate has been the most moderate since the summer of 2022, indicating a gradual slowdown in the market following several years of sharp rate increases.
Despite the slowdown, the market remains tight. The main reason is the persistent gap between supply and demand. In major cities, tourist regions, and university centers, demand is driven by local renters, foreign workers, students, digital nomads, and short-term rentals. At the same time, new supply is entering the market slowly, and some landlords prefer tourist rentals over long-term contracts.
For tenants, record-high prices mean housing is becoming even less affordable. The problem is particularly acute in Madrid, Barcelona, Valencia, Málaga, and the Balearic and Canary Islands, where rental demand is driven not only by domestic migration but also by foreigners. According to Idealista, rents in Spain rose to EUR15 per square meter in April, though no longer at the double-digit rates seen in previous years.
The migration factor remains one of the key drivers of the market. According to data from Spain’s National Institute of Statistics, as of January 1, 2025, the largest groups of foreigners in the country were citizens of Morocco—968,999 people—Colombia—676,534—and Romania—609,270. Other major groups include immigrants from Venezuela, Italy, China, Peru, the United Kingdom, Ukraine, and other countries.
In 2024, the number of Colombian citizens grew the fastest—by 98,057 people—followed by Venezuelans—by 52,555— and Morocco—by 48,306. At the same time, the number of Ukrainian citizens, according to INE data, decreased by 7,907 people, which may be due to changes in residency status, the relocation of some Ukrainians to other countries, or naturalization.
The influx of foreigners is driving up demand for rentals, particularly in cities with job opportunities, universities, and a developed service sector. In the fourth quarter of 2025, the main groups of new immigrants to Spain were citizens of Colombia, Venezuela, and Morocco.
Investment demand is creating additional pressure on the market. Foreign homebuyers in Spain pay significantly more than locals: in the second half of 2025, non-residents purchased homes at an average of EUR 3,242 per square meter, foreign residents at EUR 1,963, and Spanish citizens at EUR 1,839. This also affects the rental market, as investment purchases are often aimed at renting out the property.
Thus, Spain faces a double challenge: rents have already reached record levels, but a structural supply shortage does not yet allow for a rapid decline in prices. Even a slowdown in annual growth to 5.2% does not signal a market reversal, but rather indicates a shift from sharp price increases to a more stable, though still expensive, level of rents.
JSC “Ukrgazvydobuvannya,” part of the “Naftogaz” group, contributed UAH 5.4 billion in royalty payments to the country’s consolidated budget based on its operations in January–March 2026, the company reported on Tuesday.
“In accordance with current legislation, 5% of this amount, or 270.5 million UAH, was allocated to local and regional budgets in the regions where the company conducts hydrocarbon production,” the company noted.
The royalty funds are distributed among the regions as follows: Kharkiv – 150 million UAH, Poltava – 96.6 million UAH, Lviv – 13.3 million UAH, Dnipropetrovsk – 3.4 million UAH, others – 7.2 million UAH.
As reported, in 2025, the state-owned company “Ukrgazvydobuvannya,” the largest player in the market in terms of gas production volume, incurred a loss of 5.5 billion UAH, compared to a profit of 52.6 billion UAH in 2024.
The vacation rental market in neighboring Bulgaria may see a significant increase in housing prices—by approximately 25–30%. According to the Novinite website, the reason cited is the entry into force on May 20, 2026, of new European regulations for short-term rentals, which could result in up to half of the listings on major online platforms being removed due to non-compliance.
According to market participants, the main effect will be linked not to a surge in demand but to a reduction in supply. If some small-scale landlords exit the market due to new administrative requirements and rising costs, the number of legally available apartments in popular resorts will decrease, which will drive prices up. At the same time, representatives of the hotel sector believe that the market will become more transparent, and consumers will be better protected from informal and misleading offers.
Based on available market indicators, in 2025, renting resort accommodation in Bulgaria remained relatively affordable by EU standards. As of April 2026, average rental rates in resort areas ranged from approximately 5 to 11 euros per square meter per month, depending on location and type of accommodation. This means that a 35–40-square-meter studio typically cost around 175–440 euros per month, while a 55–70-square-meter apartment cost approximately 275–770 euros per month.
According to Serbian Economist, Montenegro’s long-term residential rental market entered a cooling phase in 2026: following the rapid growth of previous years, oversupply began to shift the balance in favor of tenants.
Currently, studios in Montenegro are offered at an average price of 300–400 euros per month, one-bedroom apartments at 400–800 euros, two-bedroom apartments at 600–1,200 euros, and houses starting at 1,000 euros. In the premium segment, villas and luxury properties can cost from 2,000 to 10,000 euros per month and higher.
The main reasons for the market stagnation are the decrease in the number of foreign residents staying in the country long-term and the accumulated oversupply. According to a representative of a local real estate agency, property owners are increasingly finding that apartments remain vacant longer than they did a year ago, while tenants have more room to negotiate prices and terms.
The market is no longer operating according to the 2022–2024 model, when owners could quickly rent out properties amid an influx of foreigners and limited supply. Now, in a number of locations, tenants are increasingly choosing between several options, securing discounts, or demanding better terms regarding the lease, furnishings, and utility bills.
For Montenegro, this shift is significant not only for the housing sector but also for the broader demand model, which in recent years has relied heavily on the influx of foreigners, relocators, and investors. If the number of long-term tenants continues to decline, some landlords may increasingly switch to short-term rentals or adjust their price expectations downward.
https://t.me/relocationrs/2698
In Greece, from April 1, 2026, residential and commercial property rentals will only be payable by bank transfer to the landlord’s account. The measure is enshrined in amendments that postpone the launch date of mandatory cashless payments for rent to April 2026 and tighten controls on the declaration of rental income.
According to explanations provided by the Greek media and the regulations they refer to, payments must be made to an IBAN registered to the owner and declared to the AADE tax service. Payments to third-party accounts (relatives, lawyers, trustees, management companies) will not be recognized for tax purposes, and in the case of joint ownership, each co-owner will be required to provide their IBAN for the correct distribution of income.
Failure to comply with the rules will result in financial consequences for all parties to the transaction. Owners lose the standard 5% tax deduction on rental income; tenants lose their entitlement to housing benefits, including annual rent compensation of up to €800; businesses will not be able to count rent as an expense if they pay outside the banking system (as an example, there is a risk of losing €8,400 in deductible expenses per year when renting €700 per month).
The authorities link the innovation to the task of matching declared rental income with bank transactions and reducing the share of “gray” payments in the rental market, with AADE having to set up data collection from payment service providers to monitor compliance with the regime.
The number of requests for long-term house rentals in January 2026 increased by 18% compared to January 2025, while responses for apartments were 4% less than a year earlier, the press service of OLX Real Estate told Interfax-Ukraine.
According to the company, these figures may indicate that Ukrainians prefer to rent houses due to their need for autonomy. At the same time, the level of supply decreased: by 9% in the house segment and by 12% in the apartment segment.
In January 2026, the median price for long-term house rentals across the country increased by 35% compared to January 2025, reaching UAH 35,000.
Compared to January 2025, the record growth rate was recorded in the Mykolaiv region: +81%, to UAH 14,000. In Zaporizhzhia, prices rose by 48% to UAH 10,000, in Kyiv by 28% to UAH 86,300, and in Cherkasy by 25% to UAH 10,000. The median house rental price decreased only in a few regions of western Ukraine, namely in Ivano-Frankivsk region – by 38%, to UAH 10,000, Khmelnytskyi region – by 18%, to UAH 8,250, and Rivne region – by 13%, to UAH 14,000.
Compared to December 2025, the median rental price for houses remained unchanged in most regions, except for Zakarpattia (+5%), Kyiv (+2%) regions, and Kyiv (+7%).
Demand for house rentals in most regions in January 2026 was higher than in January 2025. The number of reviews increased significantly in Zaporizhzhia (+153%), Ivano-Frankivsk (+120%), Kirovohrad (+42%), Zakarpattia (+32%), Rivne (+31%), and Kharkiv (+24%) regions. On the other hand, demand for house rentals fell significantly in Chernihiv (-43%), Mykolaiv (-34%), and Odesa (-16%) regions.
Comparing January 2026 with December 2025, demand in Ukraine increased by 30%. In Kyiv, the number of responses to house rental ads doubled, and in the region, it increased by 40%.
The median price for long-term apartment rentals in Ukraine as a whole in January 2026 was UAH 13,200, which is 10% higher than in January 2025 and 0.1% higher than in December 2025.
The situation is identical across regions: the median cost of renting an apartment is generally higher this year than in January 2025. The most noticeable growth was in the Kharkiv (+26%, to UAH 6,300) and Zakarpattia (+25%, to UAH 21,000) regions. The only decrease was recorded in the Chernihiv region: -7%, to UAH 6.5 thousand.
Comparing January 2026 to December 2025, the median costs remained unchanged across regions, except for the Zakarpattia region, where the price increased by 10%.
There was a noticeable increase in the number of responses to long-term apartment rentals in Zaporizhzhia (+105%) and Kharkiv (+34%) regions.
However, for the most part this year, searchers are less active in responding to apartment rental ads. A decrease in the number of responses was observed in most regions. The most noticeable decrease was in Chernihiv (by 34%), Odesa (by 28%), Mykolaiv (22%), Sumy, and Ternopil regions (by 13%).
In Kyiv and the surrounding region, the decline in demand compared to last year is 10% and 9%, respectively.
In January 2026, compared to December 2025, there was a slight increase in responses in the western region of the country, in Kyiv and the surrounding region – within 5-8%.
