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In the fourth quarter of 2024, the gross yield on buy-to-let properties reached 7.2%. At the end of 2023, the figure was at 7.1%. According to Idealista's research, even in the worst-case scenario, property yields are twice as high as ten-year government bond yields (3.1%).
Housing remains the only asset that generates profits. Among the regional capitals of Spain, Murcia has the highest yield of 7.6%, followed by Huelva (7.5%), Jaén (7.4%), Lerida (7.3%), Avila, and Castellón de la Plana with 7.2%.
In Zamora, the figure is 6.9%; in Palencia and Guadalajara, 6.8%; and in Almería and Córdoba, 6.7%. Then come the cities of Caceres and Santa Cruz de Tenerife with a yield of 6.6%, as well as Cuenca, Leon and Toledo at 6.5%. At the other end of the spectrum is San Sebastian, with the lowest yield at 3.8%, followed by Cadiz (4.5%), Palma (4.6%), La Coruña (4.7%), and Pamplona (4.8%). Madrid has a profitability of 5%, while in Barcelona this figure reaches 6%.
Commercial property is the most profitable asset in almost all cities. Murcia and Zaragoza recorded the highest profitability among urban centres — 11.8% and 11.6% respectively. Commercial property profitability remains stable, with the highest rental yields recorded in Seville (13.4%) and Vitoria (10.2%).
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