The study, conducted by Jorge Galindo and Carles Gómez Llabrés, analyzes listings published on the Idealista real estate portal between September 29 and October 5. Zaragoza recorded a 5% decline, although it was not among the cities with the sharpest drops. The largest reduction occurred in Murcia (-12.5%), followed by Madrid (-9.2%), Valencia (-7.5%), Alicante (-7.2%), Las Palmas (-6.3%) and Palma (-6%).
WHY HAVE RENTAL LISTINGS FALLEN?
The researchers point to the uncertainty generated by the two housing decrees approved by the Council of Ministers on September 29. Among other measures, the provisions included extraordinary extensions of rental contracts, limits on rent increases and greater restrictions for property owners. However, both regulations were repealed on October 2 after Congress rejected their ratification.
During those days, some owners may have chosen to temporarily remove their listings or delay putting their homes up for rent until they knew which rules would ultimately apply. This is one possible explanation put forward by EsadeEcPol, although its authors warn that the data do not make it possible to prove with certainty that the decrees directly caused the decline.
ZARAGOZA RECORDS A SMALLER DECLINE THAN MADRID OR VALENCIA
The situation in Zaragoza differs from that of other major cities. Although the number of advertised homes fell by 5%, the researchers found that larger declines had already occurred during other six-day periods since June. Therefore, the reduction recorded in the Aragonese capital is not exceptional within the usual fluctuations of its market. In Barcelona, for example, the decline was just 0.6%.
HAVE HOMES RETURNED TO THE MARKET AFTER THE REPEAL?
The withdrawal of the decrees did not lead to a widespread recovery in listings during the first weekend after their repeal either. Only Palma and Malaga recovered part of the lost supply, while no significant rebound was observed in the other cities. The researchers nevertheless point out that too little time had passed to draw definitive conclusions.
The analysis also notes that a reduction in listings does not necessarily mean that fewer homes are available for rent. Some properties may have been rented, listed through other channels or temporarily removed from the portal. For this reason, EsadeEcPol considers the results consistent with a preventive withdrawal of supply, but insists that the market will need to be monitored further to determine the true extent of these movements.
