The capital Madrid and another tourist hotspot, Palma de Mallorca, were also big losers, with the average rent in both falling 8%. Student towns like Sevilla and Valencia meanwhile saw rents drop 6% to 7% as classes shifted online.
The supply of both residential and vacation property in Spain has shot up since the pandemic struck in March, with hotels and short-term lettings suffering in the absence of tourists and many locals also seeking to move.
Source: Economy - investing.com
