Investing in Teruel: 4 €/m²/month in rent and 5.2% gross yield
Buying in Teruel costs 831 €/m² on average and renting goes for 4 €/m² a month, leaving a gross yield of 5.2% before costs and taxes. It sits clearly above the Spanish average (4.2%), with purchase prices below the Spanish average.
4 €/m²/monthRent90 m² home: €323/month
831 €/m²Purchase90 m² home: €74,790
5.2%Gross yieldAnnual rent over purchase price
53/100Momentum50 = flat market
The map
The map of Teruel
Its municipalities, coloured by gross yield. Grey ones publish too little data.
Gross yield< 3%3–4 %4–5 %5–6 %≥ 6%sin datos
Administrative boundaries from the Spanish National Geographic Institute (CC BY 4.0). The Canary Islands are drawn shifted, as on any map of Spain.
The verdict
What the analysis sees
The specific signals the official data leaves about this market, before going into detail.
On gross yield it ranks 2 of 3 among the provinces of its region.
Teruel has 136,197 residents, an average gross household income of €28,085 a year, an approximate unemployment rate of 7% (below the Spanish average). These are signals of how deep housing demand runs, not of the risk of any one tenant.
In favour
Gross yield of 5.2%Above the Spanish average (4.2%) on the same calculation method.
3.9 transactions per 1,000 residentsA market with high turnover: reselling is easier than the national average.
Net migration of 14.1‰More people arrive than leave, above the Spanish average: sustained housing demand.
Approximate unemployment of 7%A stronger labour market than the Spanish average, measured on registered unemployed and contributors.
11 properties analysedWe hold stock for sale here, each with its own investment score.
Against
No notable risks in the available data.
The market
What it costs and what it earns
The market level in Teruel and what it means for a buy-to-let buyer. Per-m² figures are converted to a reference home of 90 m².
19.3 yearsPrice / Rent (PER)Years of rent to pay off the purchase
2.7 yearsAffordabilityHousehold incomes to pay for 90 m²
14%Rent burdenAnnual rent as a share of household income
0.55%Urban IBIHousing-stock-weighted average
Within Teruel municipalities sit on average 38% away from that figure: real dispersion between local markets, not the estimate's margin of error. Drill down to a municipality to see its own.
831 €/m²Purchase price
Spain 2,028 €/m²€/m² of transactions, population-weighted average
4 €/m²/monthRent
Spain 7 €/m²€/m² a month, population-weighted average
5.2%Gross yield
Spain 4.2%annual rent over purchase price, before costs
The contrast
Expensive or profitable
Each municipality with enough data placed by what it costs to buy and what it earns. Top left is cheap and profitable; bottom right is expensive and earns little.
The comparison
Where it stands against the rest
Teruel's percentile among the 52 provinces, computed on the same figure for all of them.
Gross yield5.2%
84
PeorMedianaMejor
Rent level4 €/m²/month
6
PeorMedianaMejor
Momentum53/100
39
PeorMedianaMejor
Within Aragón it ranks 2 of 3 on gross yield.
The demand
Demand, employment and liquidity
The structural depth of the market: how many people live here, what they earn, how much changes hands and what stress it carries. This is market context, never a measure of tenant risk.
3.9Market turnover
Spain 3.3transactions a year per 1,000 residents · more turnover, easier to resell
7%Unemployment (approx.)
Spain 11%registered unemployed over unemployed + social security contributors
€28,085Gross household income
Spain €31,185annual income tax returns (AEAT), population-weighted territorial average
14.1‰Net migration
Spain 12.8‰arrivals minus departures from abroad per 1,000 residents
0.06Repossession pressure
Spain 0.55housing repossessions per 1,000 dwellings of the provincial stock · 2025
The risk
Housing repossessions
A figure the INE only publishes per province: how many urban dwellings end in repossession, against the total stock. It measures market stress, not tenant risk.
0.06Repossessions per 1,000 dwellings2025
3.9Market turnoverTransactions a year per 1,000 residents
236Municipalities in the provinceEach with its own guide
Inside Teruel
The municipalities of Teruel
The 40 most populated with their market level; the remaining 196 are linked below.
TerritoryPurchaseRentGross yieldMomentumAdverts
TeruelIn line with the Spanish average1,691 €/m²6 €/m²/month4.1%54/1001
AlcañizIn line with the Spanish average1,212 €/m²5 €/m²/month4.7%63/1001
AndorraYield above the average785 €/m²4 €/m²/month5.4%21/1001
CalamochaYield above the average795 €/m²4 €/m²/month5.3%71/1001
CalandaYield above the average975 €/m²4 €/m²/month5.0%93/100—
AlcorisaYield above the average652 €/m²3 €/m²/month5.6%78/100—
UtrillasYield above the average518 €/m²3 €/m²/month6.0%14/100—
CellaYield above the average679 €/m²3 €/m²/month5.5%51/100—
Monreal del CampoYield above the average1,076 €/m²4 €/m²/month4.8%90/1001
ValderrobresYield above the average782 €/m²3 €/m²/month5.3%79/100—
Where each figure comes from, over which territory and from what date. Confidence measures data coverage, never investment quality.
Data coverage
100/100
Teruel covers 236 municipalities. Every figure is computed by summing or population-weighting those municipalities, never by averaging their percentages.
official rent series (SERPAVI)1 of 236
series sufficient to measure momentum203 of 236
official appraised value (MIVAU)1 of 236
estimated market level236 of 236
our own adverts10 of 236
When each figure is from
For an aggregate we show the oldest figure from each source, since that is what limits how the whole can be read.
rent
2024
sale
2025
household income
2017
official appraisal
2026Q1
population register
2025
registered transactions
2026Q1
registered unemployment
2026M06
MIVAUAppraised housing value and registered transactions
SERPAVIOfficial reference rent index
INEPopulation register, migration and repossessions
AEATAverage gross household income
SEPE and Social SecurityRegistered unemployment and contributions
CatastroCadastral value, age and IBI rate
InmobliaOur own catalogue of adverts, each with its investment score
An indicative statistical estimate for comparing markets, not an appraisal or an investment recommendation. Gross yield does not deduct costs, IBI, insurance, voids or taxes.
