Javier Medina says he could charge double rent, but nobody would pay it

“If it were up to me, I’d rent them out for twice as much, but nobody pays that,” says Javier Medina, who owns 11 homes that he rents out. The 31-year-old property investor says he began buying homes after leaving his flower shop business. He now says he lives off the income from his properties and has spoken publicly about his path into property and his view of the rental market, as access to housing has become a major economic problem for households.

Appearing on Espejo Público, Medina argued that rents are shaped by what tenants can afford. Asked about his rental prices, he said: “Me, I’d rent it out for double, but it turns out nobody pays that.” He presents tenants’ ability to pay as a limit on rent increases, rather than a decision a landlord can make unilaterally. He has also argued that private landlords play an important role in the supply of rental homes.

To illustrate the income from his properties, Medina said he bought his most recent home for 45,000 euros and currently rents it out for 450 euros a month. He also believes greater legal certainty could help increase the available supply and, in turn, contribute to moderating prices.