The IRAV index: Spain’s benchmark for housing lease updates
The tool starts from a clause that refers to the IRAV; switch the option if your lease names the CPI or says nothing.
The IRAV (Índice de Referencia para la Actualización Anual de los Contratos de Arrendamiento de Vivienda) is an index published by Spain’s statistics office, INE, for one purpose only: updating residential leases. Its latest value, for September 2026, is an annual change of 2.54%, against 4.9% for the general consumer price index (IPC) the same month. The series starts in November 2024, at 2.20%, and has stayed in a narrow band since. Article 18 of the Urban Leases Act gives it two roles. If a lease provides for an annual update without naming an index, the IRAV is the index. And for leases signed on or after 26 May 2023, whatever index the clause names, the increase cannot exceed the IRAV for the reference month, which is the latest month published on the update date. For a foreign landlord with a recent lease and a CPI clause, the IRAV is therefore the real ceiling, now combined with the temporary 2% cap.
Rent from November 2026
€969.00
+€19.00 a month · +€228.00 a year
| Reference month | September 2026 |
| General CPI, annual change | 4.9% |
| IRAV, annual change | 2.54% |
| Increase applied | 2.00% |
| New rent | €969.00 |
Assumptions
INE indices. Royal Decree-law 29/2026 has applied since 8 October 2026 and still needs to be confirmed by Congress: if it is repealed, its 2% cap stops applying. Leases signed before 26 May 2023 keep the index they agreed. Method and sources
Checked by Radif Partners · Editorial policy · Method and sources
All published IRAV values
| Month | IRAV | CPI (IPC) |
|---|---|---|
| September 2026 | 2.54% | 4.9% |
| August 2026 | 2.47% | 4.3% |
| July 2026 | 2.49% | 3.6% |
| June 2026 | 2.44% | 3.2% |
| May 2026 | 2.48% | 3.2% |
| April 2026 | 2.40% | 3.2% |
| March 2026 | 2.47% | 3.4% |
| February 2026 | 2.16% | 2.3% |
| January 2026 | 2.14% | 2.3% |
| December 2025 | 2.32% | 2.9% |
| November 2025 | 2.29% | 3.0% |
| October 2025 | 2.25% | 3.1% |
| September 2025 | 2.22% | 3.0% |
| August 2025 | 2.19% | 2.7% |
| July 2025 | 2.15% | 2.7% |
| June 2025 | 2.10% | 2.3% |
| May 2025 | 1.99% | 2.0% |
| April 2025 | 2.09% | 2.2% |
| March 2025 | 1.98% | 2.3% |
| February 2025 | 2.08% | 3.0% |
| January 2025 | 2.19% | 2.9% |
| December 2024 | 2.28% | 2.8% |
| November 2024 | 2.20% | 2.4% |
The IRAV and the 2% cap together
Royal Decree-law 29/2026 did not replace the IRAV; it added a second ceiling. For anniversaries between 8 October 2026 and 31 December 2027, a lease signed from 26 May 2023 goes up by the lowest of three figures: its own index, the IRAV and 2% (or a newly agreed rate). If the rent is above the area’s reference price, nothing at all. See the 2% cap and the freeze and the legal text in the Urban Leases Act, article 18.
Back to the annual rent update in Spain, or compare CPI, IRAV and 2% for your rent.