The housing law that will apply to rents from next year includes different types of price increases depending on when each tenant pays. For those who pay six or less euros per square meter, the increase that the owner can apply to them is 4% plus the increase in the Consumer Price Index for 2023. With the current figures, the CPI is in 5.5%. In total, the increase could be 10%. As a practical example, if in a home of 70 square meters for which you pay 420 euros or less, the increase would be 10%. Therefore, if 420 euros were paid, 662 would be paid.
If the rent is equal to or greater than 6 euros and less than 7 euros per square meter, the lessor can increase the rent, at most, according to the general consumer price index. Therefore, with current figures it would be around 5.5%. If the rent is equal to or greater than 7 euros and less than 8 euros per square meter, the lessor can increase the rent by a maximum of 4%.
Finally, all those rents that are paying more than eight euros per square meter may be raised under any circumstances. This means that the rental price will be the same in 2024 as in 2023.
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